Green Mountain Coffee Roasters Jumps on Q3 Earnings Results

Shares of Green Mountain Coffee Roasters GMCR are trading higher in the after-hours following the release of the company's Q3 earnings results. Currently, shares are bid $103.01, at $103.33, up some 17%; they ended the regular session lower by 4.29%, at $88.11. Green Mountain Coffee Roasters reported Q3 Adjusted EPS of $0.49 on revenues of $717.2 million. Revenues increased 127% year over year, while non-GAAP income rose 167% year over year. The company raised its full year outlook, saying it sees FY2011 EPS in the range of $1.63-1.67; this is up from $1.43-1.50. "In addition to continued strong consumer adoption of the Keurig(R) Single-Cup Brewing system, we believe our third quarter benefitted from our first-ever significant spring advertising and brand support programs, designed to raise awareness of the Keurig Single-Cup Brewing system and of our Brew Over Ice(TM) Teas and Coffees, perfect for the summer months," said Lawrence J. Blanford, GMCR's president and CEO. Green Mountain Coffee Roasters, Inc. is engaged in the specialty coffee and coffee maker businesses.