Green Mountain's (GMCR) 127% Revenue Growth and 167% Profit Growth Makes For a Good Brew
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People love their coffee and, as strong results from Green Mountain Coffee (NASDAQ: GMCR) illustrate, they really love their single-cup home brewing systems.
Green Mountain reported impressive numbers across the board.
Net sales rose 127 percent to $717.2 million, versus the consensus of $606.8 million. Non-GAAP net income increased 167 percent to $75.7 million. Non-GAAP EPS rose to $0.49, also well ahead of the consensus of $0.37.
CEO Lawrence Blanford said the company saw continued strong consumer adoption of the Keurig Single-Cup Brewing system. In addition, Blanford said its first-ever significant spring advertising and brand support programs helped drive results.
Blanford said he is excited and humbled by the opportunity seen ahead as the company prepares for Holiday 2011.
The company sees fourth-quarter fully diluted non-GAAP earnings per share in the range of $0.44 to $0.48 per share, versus the consensus of $0.43. Net sales for the quarter are expected to grow 100% to 105%.
For 2012, the company sees consolidated net sales growth of 60 to 65 percent and non-GAAP earnings per share of $2.55-$2.65 versus the consensus of $2.15.
Shares of Green Mountain are up 18 percent in the after-hours session; the stock last traded at $104.20.
Green Mountain reported impressive numbers across the board.
Net sales rose 127 percent to $717.2 million, versus the consensus of $606.8 million. Non-GAAP net income increased 167 percent to $75.7 million. Non-GAAP EPS rose to $0.49, also well ahead of the consensus of $0.37.
CEO Lawrence Blanford said the company saw continued strong consumer adoption of the Keurig Single-Cup Brewing system. In addition, Blanford said its first-ever significant spring advertising and brand support programs helped drive results.
Blanford said he is excited and humbled by the opportunity seen ahead as the company prepares for Holiday 2011.
The company sees fourth-quarter fully diluted non-GAAP earnings per share in the range of $0.44 to $0.48 per share, versus the consensus of $0.43. Net sales for the quarter are expected to grow 100% to 105%.
For 2012, the company sees consolidated net sales growth of 60 to 65 percent and non-GAAP earnings per share of $2.55-$2.65 versus the consensus of $2.15.
Shares of Green Mountain are up 18 percent in the after-hours session; the stock last traded at $104.20.
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