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UPDATE 1-Green Mountain Coffee Q3 beats; sees Q4 EPS below mkt
July 28, 2010 / 9:04 PM / 7 years ago

UPDATE 1-Green Mountain Coffee Q3 beats; sees Q4 EPS below mkt

* Q3 adj. EPS $0.19 vs est $0.18

* Q3 sales up 64 pct to $311.5 mln

* Sees Q4 EPS $0.18 to $0.20

July 28 (Reuters) - Green Mountain Coffee Roasters Inc GMCR.O posted better-than-expected third-quarter results on strong sales of its high-margin coffee portion refills, but the company’s fourth-quarter profit outlook came in short of market estimates.

For the third quarter ended June 26, net income was $18.6 million, or 13 cents a share, compared with $14.1 million, or 12 cents a share, a year ago.

Excluding items, the company earned 19 cents a share.

Net sales rose 64 percent to $311.5 million.

Analysts on average were expecting earnings of 18 cents a share, before special items, on revenue of $307.5 million, according to Thomson Reuters I/B/E/S.

Net sales from K-Cup portion packs were up 90 percent to $197 million in the quarter.

The company, which makes the single-cup Keurig brewers, expects a fourth-quarter adjusted profit of 18 cents to 20 cents a share. Analysts were expecting a profit of 21 cents a share.

Shares of the company were up 7 cents at $28.75 in trading after the bell. They closed at $28.67 Wednesday on Nasdaq. (Reporting by Mihir Dalal in Bangalore; Editing by Unnikrishnan Nair)

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