Green Mountain Coffee Roasters, Inc., a leader in specialty coffee and coffee makers, announced a 16% gain in first quarter net sales to $1.34 billion, up from $1.16 billion for the same period of 2012. For the quarter, the company reported a 21% gain in single-serve pack sales to $863.7 million, up from $715.7 million in 2012’s period.
The company’s reported brewer sales were also up double digits, growing from $330.4 million in 2012’s first quarter to $377.3 million for the comparable 2013 fiscal period. On a less positive note, the company reported a 12% decline in “other products and royalties” income, from $112.1 million in 2012 to $98.1 million for the fiscal first
“Our strong first quarter performance underscores the connection consumers have to their Keurig brewers; the soundness of our business model; and, the value inherent in our brand portfolio,” said Brian P. Kelley, GMCR’s president and CEO. “While the GAAP earnings comparison was affected by a non-recurring gain on the sale of Filterfresh in the first quarter of fiscal 2012, our non-GAAP earnings per share of $0.76 grew 27%.”