This excerpt taken from the GMCR 8-K filed Jul 29, 2009.
- Company Provides First Estimates for Fiscal Year 2010 -
WATERBURY, VT (July 29, 2009) Green Mountain Coffee Roasters, Inc., (NASDAQ: GMCR) today announced its fiscal 2009 third quarter results for the thirteen weeks ended June 27, 2009, reporting outstanding top and bottom line growth.
Net sales for the third quarter of fiscal 2009 totaled $190.5 million as compared to $118.1 million reported in the third quarter of fiscal 2008, representing an increase of 61% over the same quarter last year.
Net income for the third quarter of fiscal 2009 increased 123% to $14.1 million or $0.36 per diluted share, from $6.3 million or $0.16 per diluted share in the third quarter of fiscal 2008.
During fiscal 2009s third quarter, 398 million K-Cup® portion packs were shipped system-wide by all Keurig licensed roasters, up 64% over the year-ago quarter. Supporting continued growth in K-Cup demand, there were 439,000 Keurig brewers shipped during the third quarter of fiscal 2009, up 187% over the same quarter in the prior year.
Lawrence J. Blanford, GMCRs President and CEO, said, We are very pleased with our performance this past quarter. Over the last twelve quarters our overall top-line growth has averaged 56%. We believe our consistently strong top-line growth demonstrates that the quality, convenience and value of the Keurig Single-Cup Brewing System have caused a revolution in how consumers prepare and enjoy their coffee.
Blanford continued, We are in the right place at the right time with our innovative brewing system which has been so well received in the marketplace. Looking forward, we intend to continue leveraging this opportunity through the successful execution of our enabling initiatives that fuel GMCRs growth by driving Keurig Single-Cup brewer sales and K-Cup portion pack demand. To date, these initiatives have included the acquisition of the wholesale business and Tullys® brand from Tullys Coffee Corporation and the integration of that business into our Specialty Coffee business unit, licensing of Keurig single-cup brewer technology for the Cuisinart® and Mr. Coffee® brands, and beverage innovations such as the introduction of new K-Cup portion pack products like Café Escapes and Celestial Seasonings Perfect Iced Teas.
Blanford concluded, Our goal is to build stockholder value by providing consumers with an extraordinary coffee experience while helping to make a positive difference in the world. This success would not have been possible without the tremendous efforts from all of our employees, the
enthusiasm with which our customers and loyal consumers have embraced our system, and the dedication of everyone else who has played an important role in this story. However, there is much more of the story to be told, and, as we look forward, I believe all of these constituencies will continue to play an important role.
Fiscal 2009 Third Quarter Financial Review