Keurig Boosts Green Mountain Fourth Quarter
December 10, 2010,
WATERBURY, Vt.--Sales of Keurig brewers and K-Cup portion packs fueled Green Mountain Coffee Roasters, Keurig's parent company, to huge gains in sales and profits in the fourth quarter.
Green Mountain's net income rose 92 percent in the quarter to $27 million, and the company reported a 73 percent gain in net sales, which totaled $373.1 million. In its statement on the results, Green Mountain said Keurig brewers and K-Cups represented about 90 percent of its overall sales in the quarter, which ended on Sept. 25. K-Cup sales increased 115 percent in the quarter, and unit shipments were 80 percent up over the fourth quarter of last year. Brewer sales increased 48 percent in the quarter.
For the fiscal year as a whole, Green Mountain logged a 46 percent increase in net income to $79.5 million, and grew sales by 73 percent to nearly $1.4 billion. The company is projecting a 45 to 53 percent gain in net sales for fiscal year 2011.