logo
Share SHARE
FONT-SIZE Plus   Neg

Green Mountain Coffee Q2 Profit Meets Estimates; Cuts FY12 Outlook

Green Mountain Coffee Roasters, Inc. (GMCR) reported second-quarter net income attributable to the company of $93.0 million or $0.58 per share, up from $65.4 million or $0.44 per share last year.

Excluding items, non-GAAP net income for the quarter was $101.7 million or $0.64 per share, compared to $71.5 million or $0.48 per share.

On average, 11 analysts polled by Thomson Reuters expected earnings of $0.64 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 37 percent to $885.1 million from $647.7 million a year ago.

Analysts expected revenues of $971.65 million for the quarter.

Looking forward, Green Mountain Coffee Roasters expects third-quarter non-GAAP earnings of $0.48 to $0.53 per share on net sales ranging from $861 million to $897 million. Analysts expect the company to earn $0.72 per share on revenue of $1.05 billion for the third quarter.

For the fiscal 2012 , the company expects non-GAAP earnings of $2.40 to $2.50 per share and net sales of $3.8 billion to $4.0 billion, which represents a net growth of 45% to 50%. Previously, the company expected non-GAAP earnings of $2.55 to $2.65 per share and net sales growth of 60% to 65%.

Analysts expect the company to earn $2.67 per share on revenues of $4.27 billion for the fiscal 2012.

Additionally, Green Mountain Coffee Roasters said that it has reached a multiyear agreement with Eight O'Clock Coffee Company to make Eight O'Clock coffee, Tetley tea, and Good Earth tea available in K-Cup and Vue packs for Keurig Single Cup Brewing systems. Financial terms of the agreement were not disclosed.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Federal Aviation Administration said several pilots complained about pointing of strong green laser beams at planes flying over Long Island. The location was around Farmingdale, during 9.30 pm and 10 pm. Searches are on to locate the exact source of the laser beam. The Federal official suspects that the beam came from a hand-held device. Discount retailer Big Lots, Inc. Friday reported an increase in income from continuing operations for the first quarter, from last year. The company also registered a surge in net income particularly as it had carried a loss from discontinued operations last year. Taco Bell, a division of Yum! Brands Inc, is planning to test delivery of food items on college campuses, the Street reported. The move comes at a time the fast food chain seeks to leverage demand for its popular breakfast and dinner items.
comments powered by Disqus
RELATED NEWS
Trade GMCR now with 
Follow RTT