Hansen Natural Misses Estimates; To Report Full Earnings 'As Soon As Practicable'

Hansen Natural reported it increased net sales in the first quarter by 38% to $165 million, below both Reuters and Thomson Financial consensus estimates of $168 million. Due to an ongoing SEC investigation into options backdating at the company, Hansen will report quarterly earnings "as soon as practicable." A Hansen-appointed committee found no backdating wrongdoing, but is still undecided as to whether the company will have to restate past results. In addition to missing sales estimates, the company reported gross margins dropped to 51.5% from 52.6% on increases in material and transport costs, as well as changes in its product mix. Hansen reported cash and cash equivalents, including short-term investments, of $178.7 million at quarter's end, up from $133.5 million at the end of the previous quarter. The company will hold a conference call with investors at 11:30 A.M. Pacific time.

Sources: Press Release, Reuters, AP, MarketWatch,
Commentary: More Downside in Store for Hansen Natural? • 5 Revenue Drivers To Push Hansen Natural Northward • Cramer's Take on HANS
Stocks/ETFs to watch: Hansen Natural Corp. (HANS). Competitors: The Coca-Cola Company (KO), Pepsico, Inc. (PEP)
Related: Hansen Investor Relations

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