Keurig Again Propels Green Mountain in Fiscal First Quarter
February 2, 2012,
WATERBURY, Vt.-The increasing sales of Keurig products provided yet another booster to Green Mountain Coffee Roasters in its fiscal first quarter, bringing a dramatic 4,290 percent gain in net income to $104.4 million.
The company's net sales in the quarter, which ended on Dec. 24, jumped 102 percent to $1.2 billion. The main drivers were a 115 percent rise in sales of Keurig K-Cup Packs, a 76 percent increase in sales of Keurig brewers and a 111 percent pickup in sales from other products and royalties. Keurig products accounted for about 90 percent of the first quarter's sales for Green Mountain, the company said in a statement.
Lawrence Blanford, Green Mountain's president and CEO, said consumers are continuing "to embrace the convenience, choice and consistent experience" provided by Keurig products. "The value of single-serve, at-home brewing seems to be resonating with consumers," Blanford said.