Monster Beverage Corporation (MNST) has reported a 24.65 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $172.95 million, or $0.30 a share in the quarter, compared with $138.74 million, or $0.22 a share for the same period last year.
Revenue during the quarter grew 16.78 percent to $753.76 million from $645.43 million in the previous year period. Gross margin for the quarter expanded 359 basis points over the previous year period to 66.08 percent. Total expenses were 66.60 percent of quarterly revenues, up from 64.61 percent for the same period last year. That has resulted in a contraction of 200 basis points in operating margin to 33.40 percent.
Operating income for the quarter was $251.73 million, compared with $228.45 million in the previous year period.
Rodney C. Sacks, Chairman and Chief Executive Officer, said: "We are pleased to report continued progress on the strategic alignment of our distribution system with Coca-Cola bottlers, both domestically and internationally. In the United States, we continue to see improvements in the quality of our distribution, particularly in the food service channel, and we transitioned distribution of Monster Energy® drinks to the Coca-Cola bottlers in Wisconsin early in January 2017."
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