Sales of the company's single-cup Keurig Brewers, boosted Green Mountain Coffee Roasters, Inc., (NASDAQ: GMCR) quarterly earnings 89%, according to results released today for the company's second quarter, ending March 29, 2008.
Approximately 193,000 Keurig brewers were shipped, up 130% from 2Q07. The Green Mountain Coffee segment shipped over 155 million K-Cup portion packs, which was 68% more than the year-ago quarter.
Net sales for 2Q08 were up 46% to $120.9 million as compared to $82.9 million reported in 2Q07.
Net income for the quarter was $6.0 million or $0.23 per diluted share, up 89% from $3.1 million or $0.13 per diluted share in 2Q07.
Analysts polled by Thomson Financial predicted a profit of 21 cents per share on revenue of $115.8 million.
Lawrence J. Blanford, President and CEO, said, "Looking forward, we believe we are at the crest of a new wave in coffee making, with Keurig leading the introduction of single-cup brewing to coffee, tea and hot cocoa lovers."
About Green Mountain Coffee Roasters, Inc.
Green Mountain Coffee Roasters, Inc. is recognized as a leader in the specialty coffee industry for its award-winning coffees, innovative brewing technology and socially responsible business practices. GMCR manages its operations through two wholly owned business segments: Green Mountain Coffee and Keurig.
