Green Mountain Coffee Roasters, Inc., (NASDAQ: GMCR), a leader in specialty coffee and coffeemakers, today announced its fiscal 2010 fourth quarter and year-end results for the thirteen weeks and fiscal year ended September 25, 2010.
Performance Highlights
Fourth Quarter Fiscal 2010
Net Sales up 73% over 2009
GAAP EPS of $0.20; Non-GAAP EPS of $0.22 1
GAAP Net Income up 92% over 2009
Fiscal 2010
Net Sales up 73% over 2009
GAAP EPS of $0.58; Non-GAAP EPS of $0.70 1
GAAP Net Income up 46% over 2009
Restated Financial Results
As set forth in the Companys Annual Report on Form 10-K for the fiscal year ended September 25, 2010, the Company has restated its previously issued financial statements for the fiscal years ended September 30, 2006, September 29, 2007, September 27, 2008 and September 26, 2009 and the first three quarters of fiscal 2010, including the quarterly data for fiscal years 2009 and 2010 and its selected financial data for the relevant periods. Any comparisons to prior periods reflect restated financial results for those periods. Accordingly, investors should no longer rely upon the Companys previously released financial statements for these periods and any earnings releases or other communications relating to these periods.
Fourth Quarter 2010 Results
Net sales for the fourth quarter of fiscal 2010 increased 73% to $373.1 million as compared to $216.0 million for the fourth quarter of fiscal 2009. GAAP net income for the fourth quarter of fiscal 2010 totaled $27.0 million, or $0.20 per fully diluted share, representing an increase of 92% as compared to GAAP net income of $14.1 million, or $0.11 per diluted share for the fourth quarter of fiscal 2009.
A complete reconciliation of the Companys GAAP to non-GAAP results is provided with this announcement.
The following information was filed by Keurig Green Mountain, Inc. (GMCR) on Thursday, December 9, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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