* Q1 EPS $0.27 vs est $0.16 * Q1 revenue rises 77 pct to $349.4 mln
* Says preparing to answer FTC about proposed Diedrich buy
* Shares up 2.7 pct after the bell (Recasts; adds conference call details)
BANGALORE, Jan 27 (Reuters) - Green Mountain Coffee Roasters Inc GMCR.O posted higher-than-expected quarterly results, driven by increased sales of the high-margin coffee refill packs used in its single-cup brewers, and raised its full-year outlook.
On a conference call with analysts, the company, which had beaten Peet’s Coffee & Tea Inc PEET.O in a bidding war to buy Diedrich Coffee Inc DDRX.O last year, said it was preparing answers to the questions raised by the antitrust division of the U.S. Federal Trade Commission.
Earlier this month, the Waterbury, Vermont-based company received requests for additional information from the FTC relating to its proposed acquisition of Diedrich. [ID:nSGE60C0JW]
A company executive also said its full-year outlook did not include the potential impact from the Diedrich business. [ID:nWNAB9164]
It expects the deal to close in early 2010.
The company posted first-quarter net income of $12.5 million, or 27 cents a share, compared with $14.4 million, or 37 cents a share, a year ago.
For the first quarter ended Dec. 26, net sales rose 77 percent to $349.4 million.
Analysts on average were expecting earnings of 16 cents a share, before special items, on revenue of $330.3 million, according to Thomson Reuters I/B/E/S.
Its single-cup Keurig brewers and their attendant K-Cup coffee refills made up about 87 percent of overall sales. The company sells the brewers at cost to consumers and makes profit on sale of the refills. Total K-Cup net sales doubled this quarter. Shares of the company were up 3 percent at $82.49 after the bell. They closed at $80.02 Wednesday on Nasdaq. (Reporting by Mihir Dalal in Bangalore, Editing by Saumyadeb Chakrabarty, Anne Pallivathuckal)