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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): March 4, 2004
HANSEN NATURAL CORPORATION
(Exact name of registrant as specified in charter)
DELAWARE 0-18761 39-1679918
(State or other (Commission (IRS employer
jurisdiction of file number) identification no.)
incorporation)
1010 Railroad Street 92880-5471
Corona, California (zip code)
(Address of principal executive offices)
(Registrant's telephone number, including area code): (909) 739-6200
Item 5. Other Events and Regulation FD Disclosure
On March 4, 2004, the Registrant issued the press release atached
hereto as Exhibit 99.1.
The following exhibits are filed as part of this report:
Exhibit Description
- ------- ------------
99.1 Press Release
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 4, 2004
HANSEN NATURAL CORPORATION
By: /s/ HILTON H. SCHLOSBERG
------------------------
Hilton H. Schlosberg
Vice Chairman of the Board of
Directors, President and Chief
Financial Officer
HANSEN BEVERAGE COMPANY
1010 Railroad Street
Corona, CA 92882
Phone: 909/739-6200
Fax: 909/739-6210
NEWS RELEASE
Contacts: Rodney Sacks
Chairman and Chief Executive
Officer
(909) 739-6200
Hilton Schlosberg
Vice Chairman
(909) 739-6200
HANSEN BEVERAGE COMPANY AWARDED EXCLUSIVE CONTRACT TO SUPPLY 64 oz. SHELF
STABLE READY-TO-DRINK (RTD) 100% APPLE AND 100% APPLE GRAPE JUICES FOR
CALIFORNIA STATE WIC PROGRAM
Corona, CA - March 4, 2004 -- Hansen Natural Corporation (NASDAQ:HANS)
today announced that its wholly-owned subsidiary, Hansen Beverage Company, has
received official confirmation that it has been awarded an exclusive three-year
contract by the State of California Department of Health Services ("DHS"), under
the DHS's Women, Infants and Children Supplemental Nutrition Program ("WIC") to
supply 64 oz. shelf stable ready-to-drink ("RTD") 100% apple and 64 oz. shelf
stable RTD 100% apple grape juices.
The company said the three-year agreement will have a further one-year
extension option subject to agreement between the company and the State of
California DHS. The company bid the lowest net cost per unit in terms of the
wholesale price, less a rebate to the State.
The company expects to sign formal written agreements in due course with
the State of California DHS in accordance with the bid process. Delivery of the
first juices to the trade persuant to this contract is expected to commence
prior to the scheduled July 12, 2004 start date for the contract.
Under the contract the company will be the exclusive supplier for 64 oz.
shelf stable RTD 100% apple juice to the WIC program. At the present time, the
company is one of a number of suppliers who supply apple juice under the current
WIC program on a non-exclusive basis. The company will also be the exclusive
supplier for the blended fruit juice category with Hansen's(R) 64 oz. shelf
stable RTD 100% apple grape juice. This will be a new category of fruit juice
available to WIC participants.
The WIC contract is expected to expand distribution of Hansen's(R) 64 oz.
shelf stable RTD 100% apple and 64oz. shelf stable RTD 100% apple grape juices,
with a resultant increase in exposure for the Hansen's(R) brand generally.
WIC-approved items are stocked by the grocery trade and by WIC-only stores.
Products are purchased by WIC participants with vouchers given by the WIC
Program. The DHS has estimated that approximately 24.5 million units per year of
64 oz. shelf stable RTD 100% apple juice and 5.4 million units per year of 64
oz. shelf stable RTD 100% apple grape juice will be supplied pursuant to this
contract. Based upon these estimates from the DHS, which the company has not
independently verified or confirmed, this new contract could result in
incremental net sales for the products concerned in excess of $20 million per
annum. The gross and net profits that the company expects to earn from the sales
of juices pursuant to this contract will be lower than the gross and net profits
earned by the company from the sales of such juices in the ordinary course of
business.
Hansen Natural Corporation markets and distributes Hansen's(R) Natural
Sodas, Signature Sodas, fruit juice and soy Smoothies, Energy drinks,
Energade(R) energy sports drinks, E20 Energy Water(R), functional drinks,
Sparkling Lemonades and Orangeades, multi-vitamin juice drinks in aseptic
packaging, Junior Juice(R) juice, iced teas, lemonades and juice cocktails,
apple juice, cider and juice blends, as well as nutrition bars, Blue Sky(R)
brand carbonated beverages, Monster Energy(TM) brand energy drinks, and Lost(R)
Energy(TM) brand energy drinks. The company's subsidiary Hard e Beverage Co.
markets and distributes Hard e malt beverages. Hansen's can be found on the Web
at www.hansens.com.
Certain statements made in this announcement may constitute "forward
looking statements" within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such statements include, but are not limited to, the expectations of
management with respect to revenues, gross and net profits to be generated by
the WIC award. Management cautions that these statements are qualified by their
terms/or important factors, many of which are outside of the control of the
company, that could cause actual results and events to differ materially from
the statements made herein, including, but not limited to, the following:
Changes in consumer preferences, changes in demand that are weather related,
particularly in areas outside of California, competitive pricing pressures,
changes in the price and/or availability of raw materials for the company's
products, the availability of production and/or suitable facilities, the
marketing efforts of the distributors of the company's products, most of which
distribute products that are competitive with the products of the company, the
introduction of new products, as well as unilateral decisions that may be made
by grocery chain stores, specialty chain stores, club stores and other customers
to discontinue carrying all or any of the company's products that they are
carrying at any time. Management further notes that the company's plans and
results may be affected by any change in the availability of the company's
credit facilities and the actions of its creditors.