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Green Mountain Q4 Profit Triples On Higher Revenue

Posted On: 11/16/2011

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office coffee service, OCS, vending machine business, Green Mountain Coffee Roasters, Green Mountain fourth-quarter profit, Keurig single-cup brewers, Starbucks, Dunkin' Brands Group

WATERBURY, VT -- Green Mountain Coffee Roasters saw fourth-quarter profit nearly triple as sales rose 91%. The maker of Keurig single-cup brewers said it earned $75.4 million, or 47¢ a share, for the quarter that ended Sept. 24, up from $27 million, or 20¢ per share, a year earlier.

Sales jumped 91% to $711.9 million, compared with $373.1 million in the prior-year period. Keurig K-Cup sales climbed 91% to $475.5 million, and sales of brewers and accessories rose 40% to $115.1 million. Green Mountain sold 1.3 million Keurig brewers in the quarter, up from 1.2 million a year ago.

Sales of bagged coffee and other products more than tripled to $120.3 million.

Starbucks Corp. and Dunkin' Brands Group Inc. partnered with Green Mountain earlier this year to sell their coffee brands in K-Cups for the Keurig machine. Starbucks K-Cups started selling in grocery and retail stores earlier this month.

The company's profit margin rose during the quarter, aided by price hikes that helped offset higher costs of unroasted beans.

Green Mountain earned $201 million, or $1.36 a share, for the full fiscal year, versus $138.8 million, or 58¢ per share, in fiscal 2010. Revenue rose 95% to $2.65 billion. The company reiterated its forecast for fiscal 2012 earnings of $2.55 to $2.65 a share.