Shares of Monster Beverage fell 4.5% in after-hours trade Thursday after the company said earnings were hit hard in the first quarter by the termination of third-party distribution partnerships. The energy drink maker reported net income of $4.4 million, or three cents a share, compared with $95.2 million, or 55 cents, in the year-earlier period. Monster said some $206 million was shaved off earnings due to the distributor terminations. The company terminated many partnership as it readied to close on a long-term distribution deal with Coca-Cola Co. . Once the deal closes, scheduled to happen in the current quarter, Monster said it will present a "unique opportunity," including access to new channels and geographies. Excluding the termination costs and other one-time items, Monster reported earnings per share of 62 cents, below the consensus estimate of 68 cents, according to FactSet. Revenue, adjusted for the acceleration of deferred revenue, was $587 million, up from $536.1 million but below the average analyst estimate of $598 million, according to FactSet. The company also blamed foreign exchange rates, which it said impacted international revenues.
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