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Last Update: 10-Nov-11 11:18 ET
Green Mtn Coffee Posts Sharp Fourth Quarter Revenue Miss
Green Mtn Coffee (GMCR $42.06 -24.96) reported fourth quarter earnings of $0.47 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.46.
Revenues rose 90.4% year/year to $711.9 mln vs the $760.48 mln consensus.
The increase in K-Cup portion pack net sales is driven by a 52% increase in K-Cup portion pack sales volume, a 29% point increase in K-Cup portion pack net price realization due to price increases implemented during fiscal 2011 to offset higher green coffee and other input costs, and a 10 percentage point increase in K-Cup portion pack net sales due to the acquisition of Van Houtte. GMCR sold 1.3 million Keurig Single Cup Brewers during the fourth quarter of fiscal 2011.
Inventories were $672.2 million at September 24, 2011 including $52.0 million of Van Houtte-related inventories. This compares to $262.5 million at September 25, 2010.
For the first quarter, the company expects to see earnings in the range of $0.35 to $0.40 versus the $0.33 Capital IQ Consensus Estimate; sees first quarter revenue of $1.063 billion to $1.092 billion versus the $1.05 billion Capital IQ Consensus Estimate.
For fiscal year 2012, the company sees earnings in the range of $2.55 to $2.65 versus $2.55 Capital IQ Consensus Estimate; sees revenue in the range of $4.24 billion to $4.37 billion versus the $4.36 billion Capital IQ Consensus Estimate.
Revenues rose 90.4% year/year to $711.9 mln vs the $760.48 mln consensus.
The increase in K-Cup portion pack net sales is driven by a 52% increase in K-Cup portion pack sales volume, a 29% point increase in K-Cup portion pack net price realization due to price increases implemented during fiscal 2011 to offset higher green coffee and other input costs, and a 10 percentage point increase in K-Cup portion pack net sales due to the acquisition of Van Houtte. GMCR sold 1.3 million Keurig Single Cup Brewers during the fourth quarter of fiscal 2011.
Inventories were $672.2 million at September 24, 2011 including $52.0 million of Van Houtte-related inventories. This compares to $262.5 million at September 25, 2010.
For the first quarter, the company expects to see earnings in the range of $0.35 to $0.40 versus the $0.33 Capital IQ Consensus Estimate; sees first quarter revenue of $1.063 billion to $1.092 billion versus the $1.05 billion Capital IQ Consensus Estimate.
For fiscal year 2012, the company sees earnings in the range of $2.55 to $2.65 versus $2.55 Capital IQ Consensus Estimate; sees revenue in the range of $4.24 billion to $4.37 billion versus the $4.36 billion Capital IQ Consensus Estimate.
