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
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