Hansen’s Shares Fall After Report

Shares of Hansen Natural Corp. sank Monday, after the drink maker reported a second-quarter profit that met but did not exceed analysts’ expectations.

Hansen’s shares fell $10.40 to $29.85, its biggest drop in 10 years. The stock has traded in a 52-week range between $9.89 and $52.72.

The company posted profit of $28.2 million, or 28 cents a share, up from $15.2 million, or 16 cents, a year earlier. Sales for the quarter rose 82.6% to $156 million, beating Wall Street expectations of $152.5 million.

Although the 28 cents a share profit was in line with average predictions by analysts polled by Thomson Financial, Wall Street expected Corona-based Hansen to show profit on the high end of predictions.

“The street was expecting them to be upper-end consensus range 34 cents,” said Canaccord Adams analyst Stephen Colbert in a telephone interview. “That being said, it was still a strong earnings release.”

In a research note to clients Monday, Citigroup analyst Gregory Badishkanian wrote that the company has beaten analyst estimates by 17% to 42% in the last four quarters.

“We think investors were expecting a beat this quarter as well,” he wrote. “In addition, high multiple stocks have seen meaningful corrections on even good results.”