Despite reporting double-digit growth in both sales and profit, shares in Hansen Natural Corp. were stung Thursday when its first-quarter results missed Wall Street's expectations.
Hansen reported net income late Wednesday of $28.8 million (29 cents per share), a 43 percent jump year-over-year but short of analysts' expectations of 35 cents per share, according to Thomson Financial.
Sales for the Corona-based maker of Monster energy drinks increased 28 percent to $212 million, but also fell short of Wall Street's expectations of $221 million.
Hansen credited strong sales of its Monster drinks for its revenue growth and said its new Java Monster dairy-based coffee drink also performed well.
Shares in Hansen dipped 15 percent to $30.41 in early trading Thursday.
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