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Green Mountain Coffee Q2 Profit Meets Estimates; Cuts FY12 Outlook

5/2/2012 5:03 PM ET

Green Mountain Coffee Roasters, Inc. (GMCR: Quote) 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.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Starbucks Corp. said Thursday after the markets closed that its second quarter profit rose 9.4% from last year, helped by higher revenue. The company's quarterly earnings per share came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. The world's largest specialty coffee retailer also raised its full year earnings outlook. Software giant Microsoft Corp. said Thursday after the markets closed that its third quarter profit fell 6.6% from last year, when results were boosted by special upgrade offer revenues. However, the company's quarterly earnings per share came in above analysts' expectations as did its quarterly revenue. Apple Inc. said Wednesday after the markets closed that its second quarter profit rose 7% from last year, as sales surged and margins improved amid strong sales of its iPhones. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave a slightly downbeat revenue forecast for the current quarter.
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