GMCR Posts 28.5 Percent Net Gain in Q1
February 6, 2014,
WATERBURY, Vt.-Keurig brand parent Green Mountain Coffee Roasters (GMCR) began its fiscal year with a 28.5 percent jump in net income, which totaled $138.2 million.
Expenses controls helped fuel the bottom-line growth. Operating expenses in the quarter, which ended on Dec. 28, were virtually flat in dollars and declined 56 basis points to 17.1 percent. Gross margin was bolstered by 216 basis points to 33.5 percent.
GMCR's net sales benefited from what Brian Kelley, president and CEO, termed "our best holiday season ever. The top line gained 3.6 percent to $1.4 billion, and Kelley said GMCR "achieved record brewer volume, revenue and retail sell-through despite a challenging holiday season for many retailers." The company posted a record 5.1 million Keurig system brewers sold during the quarter.