Green Mountain Coffee Roasters, Inc. announced its first quarter fiscal year 2013 results for the 13 weeks ended December 29, 2012.
“Our strong first quarter performance underscores the connection consumers have to their Keurig® brewers; the soundness of our business model; and, the value inherent in our brand portfolio,” Brian P. Kelley, GMCR’s president and CEO said in a prepared statement. “While the generally accepted accounting principles (GAAP), earnings comparison was affected by a non-recurring gain on the sale of Filterfresh in the first quarter of fiscal 2012, our non-GAAP earnings per share of $0.76 grew 27 percent.”
“The Keurig® Single Cup brewing system is a powerful breakthrough for the beverage business, with significant untapped potential in the U.S. and globally. We are in the early days of a marked evolution in how consumers purchase, prepare and customize hot beverages in their homes,” said Kelley. “With a robust innovation pipeline and a growing awareness and commitment to the Keurig® brand, GMCR is well positioned to continue to lead this disruptive shift in consumer behavior.”
Business Outlook and Other Forward-Looking Information
“For the remainder of the year, we expect to see continued year-over-year gross margin improvement due to lower green coffee costs and ongoing brewer quality improvements,” said Kelley. “While we expect growth will continue to moderate in the overall total coffee and espresso maker category, we also expect our share of the category to continue to increase driving further expansion of our installed Keurig® brewer base. Consistent with our previous outlook, we estimate total fiscal year 2013 net sales growth in the range of 15 percent to 20 percent over fiscal year 2012.”