News
Green Mountain reports 3Q results
August 1, 2007
WATERBURY, Vt. —Green Mountain Coffee Roasters Inc. announced its fiscal third-quarter results for the 13 weeks ended June 30, 2007.
Net income for the fiscal third quarter of 2007 increased to $3.7 million compared to $2 million for the same period last year.
Net sales for the third quarter totaled $82.4 million as compared to $47.8 million reported in the 3Q '06.
Green Mountain Coffee Segment
Net sales for the third quarter of 2007 were $60.3 million as compared to $45.9 million reported in the same period last year. Dollar sales growth was strongest in the channels that benefit from the Keurig single-brew system including office coffee service (OCS), consumer direct and reseller channels. Green Mountain Coffee K-Cup shipments of coffee, tea and hot cocoa increased 42 percent over the prior period. Coffee pounds shipped by channel is as follows:
- The consumer direct channel continued its strong growth, up 42 percent in coffee pounds shipped. The majority of this growth was related to the sales of K-Cups to consumers for use with Keurig Single-Cup Brewers.
- The resellers channel increased 147 percent in coffee pounds shipped. This channel includes Green Mountain Coffee K-Cup sales to Keurig for its developing business in retail department stores and on Keurig.com.
- The foodservice channel increased 15 percent in coffee pounds shipped with the majority of this increase driven by sales to McDonald's restaurants in New England and Albany, N.Y., as well as to other existing customers.
- The supermarket channel coffee pounds shipped increased 6 percent with increased coffee pounds growth from both existing customers and new customers.
- The company experienced a 15-percent gain in shipments of certified Fair Trade and organic coffees, including co-branded Newman's Own Organics coffees. Certified Fair Trade and organic coffees represented 28 percent of total company volume.
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