Green Mountain Coffee Roasters Beats Top And Bottom Line Estimates (GMCR)

Green Mountain Coffee Roasters GMCR reported GAAP net income of $18.6 million or $0.13 per share after the closing bell on Wednesday. The Company’s non-GAAP net income for the third quarter of fiscal 2010 was $25.8 million, or $0.19 per diluted share, representing an increase of 82% from $14.1 million, or $0.12 per diluted share, in the third quarter of fiscal 2009. This compared with analysts' EPS estimates of $0.18. Net sales for the third quarter of fiscal 2010 increased 64% to $311.5 million as compared to $190.5 million reported in the third quarter of fiscal 2009. This beat Wall Street revenue expectations of $307.48 million. In the after hours trading session, GMCR has fallen 0.94% to $28.40. Lawrence J. Blanford, GMCR’s President and CEO, said, “In our fiscal third quarter, through the strong efforts of all our employees, we delivered excellent results on our key financial performance metrics including revenue, gross margin, operating margin and net income. We have now achieved 11 consecutive quarters of better than 40 percent net sales growth. For the first nine months of fiscal 2010 we have produced net sales growth of 70% and non-GAAP earnings per share growth of 89% over the same period for fiscal year 2009.”