UPDATE 2-Hansen Q1 beats Street, gains market share
* EPS $0.44 vs. $0.37 estimate
* Net sales up 15.1 percent
* Monster Energy drinks continues to gain market share
* Shares up 9 percent after market
(Adds conference call details, updates share movement)
May 7 (Reuters) - Hansen Natural Corp HANS.O, which sells the Monster Energy drink, posted first-quarter profit that came in ahead of market expectations as sales of its energy drinks continued to outperform in the category and gain market share.
Shares of the company rose 9 percent to $41.39 in trading after the bell. They closed at $38.06 Thursday on Nasdaq.
Hansen, which has doubled its share in the U.S. energy-drink market since its launch there in 2002, has a distribution agreement with Coca-Cola Co (KO.N: Quotazione) and its bottler under which the beverage giant released Monster in the six Western European countries and parts of the United States.
In a bid to further grow its global footprint, the company said it is had recently entered distribution agreements with Schweppes Australia Pty Ltd. Continua...