Green Mountain Coffee Roasters, Inc., (GMCR: Quote) reported third-quarter net income attributable to the company of $73.3 million or $0.46 per share, up from $56.3 million or $0.37 per share in the comparable quarter last year.
Excluding items, non-GAAP net income for the quarter was $82.9 million or $0.52 per share, up from $75.7 million or $0.49 per share last year.
On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.50 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the latest quarter rose 21 percent to $869.2 million from $717.2 million last year. Twelve analysts had a consensus revenue estimate of $873.29 million for the quarter.
Looking ahead, the company said that it expects to earn $0.45-$0.50 per share on revenues ranging from $889.9 million to $925.5 million in the fourth quarter. Analysts currently expect the company to earn $0.62 per share on revenues of $952.21 million in the fourth quarter.
For the fiscal year 2012, the company lowered its non-GAAP earnings guidance to $2.21-$2.26 per share on revenues ranging from $3.79 billion to $3.84 billion. Previously the company had expected non-GAAP earnings of $2.40-$2.50 on net sales of $3.8 billion to $4.0 billion for the fiscal year 2012.
Analysts expect the company to earn $2.37 on revenues of $3.87 billion in the fiscal year 2012.
The company also provided outlook for the fiscal year 2013 wherein it expects non-GAAP earnings of $2.55-$2.65 per share on a 15-20 percent growth in sales over fiscal 2012.
For the fiscal year 2013, analysts expect the company to earn $2.97 per share on revenues of $4.72 billion.
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by RTT Staff Writer
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