Monster Beverage Corp., the largest energy drink maker by sales volume in the U.S., reported Wednesday that its net income rose 5.3 percent to $68 million and its gross sales climbed16.6 percent to $545 million in the fourth quarter of 2012.
The Corona-based company, which last year rebuffed claims about the safety of its caffeinated Monster Energy Drink, reported Wednesday, Feb. 27 that the growth of the energy drink market in the United States has softened from previous quarters.
But Rodney Sacks, chairman and chief executive, reiterating in the fourth-quarter report that its Monster Energy brand is safe, noted impressive gains in new international markets. Gross sales outside the U.S. exceeded $500 million, he said.
"The energy brand continues to grow in excess of market growth,'' he said in a statement released Wednesday.
Monster said in a statement its net income for the fourth quarter of 2012 increased to $68 million, or 39 cents per share, from $64.5 million, or 35 cents per share, the year-earlier quarter.
Revenue grew 15 percent to $471.5 million from $410 million the year-earlier quarter. For the year, revenue rose to nearly $2.1 billion, up from $1.7 billion in 2011.
Shares of Monster Beverage rose 67 cents to $49.62 in extended trading following the earnings report.
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