Green Mountain Net Falls 78 Percent in First Quarter
February 3, 2011,
Keurig brewers boosted Green Mountain sales
WATERBURY, Vt.--Net income for Green Mountain Coffee Roasters, parent company of the Keurig brand, dropped 78 percent to $2.2 million in its fiscal first quarter, which ended on Dec. 25, 2010.
The decline reflected charges and credits related to Green Mountain's acquisition of Van Houtte, a Canada-based coffee manufacturer; without those charges, the company's net jumped 73 percent to $15.1 million. In addition, gross margin fell 258 basis points to 25.1 percent. Selling, operating, general and administrative expenses rose 59 percent on a dollar basis, but decreased 110 basis points as a percentage of sales to 21.1 percent.