This excerpt taken from the GMCR 8-K filed Apr 29, 2009.
- Company Raises Estimates for Fiscal Year Net Sales Growth and EPS -
WATERBURY, VT (April 29, 2009) Green Mountain Coffee Roasters, Inc., (NASDAQ: GMCR) today announced its fiscal 2009 second quarter results for the thirteen weeks ended March 28, 2009, reporting very strong top and bottom line growth.
Net sales for the second quarter of fiscal 2009 totaled $193.4 million as compared to $120.9 million reported in the second quarter of fiscal 2008, representing an increase of 60% over the same quarter last year.
Net income for the second quarter of fiscal 2009 increased 118% to $13.0 million or $0.50 per diluted share, from $6.0 million or $0.23 per diluted share in the second quarter of fiscal 2008.
During fiscal 2009s second quarter, 432 million K-Cup® portion packs were shipped system-wide by all Keurig licensed roasters, up 62% over the year-ago quarter. Supporting continued growth in K-Cup demand, during the second quarter of fiscal 2009, 479,000 Keurig brewers were shipped, up 148% over the same quarter in the prior year.
Lawrence J. Blanford, GMCRs President and CEO, said, It is exciting to be sharing such outstanding results today and to deliver the eleventh consecutive quarter with our overall top-line growth being at least 39%. Because of the strength of our results in these first two quarters of our fiscal year, we are raising our sales and earnings estimates for the year as a whole.
Blanford continued, Our success is driven by the winning combination of our outstanding coffees and the Keurig Single-Cup Brewing System. GMCR is the leader in the early revolution of how consumers prepare and enjoy their coffee. We believe the Keurig system is succeeding in growing the single-serve segment of the overall coffee market because it offers quality, convenience, and value.
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. Looking forward, I am confident that our initiatives will continue to fuel GMCRs growth and value through Keurig Single-Cup brewer sales and expanding K-Cup portion pack demand. These initiatives include the acquisition of Tullys wholesale business and brand, the expansion of distribution (see separate release today regarding Walmart), and innovations such as the test market introduction of new portion pack products like Café Escapes and Celestial Seasonings Perfect Iced Tea.
Fiscal 2009 Second Quarter Financial Review