Thursday November 21st, 2013 - 9:09AM
Green Mountain Coffee Roasters today announced 16% revenue gains to $4.4 billion for the 2013 fiscal year, with fiscal fourth quarter gains of 22% to $1.0 billion.
"We had a strong end to an excellent year, driven by continued consumer passion for the Keurig brewing system," said Brian P. Kelley, GMCR's president and CEO. "Our 16% annual revenue growth and 22% revenue growth for the fourth quarter were driven by robust brewer sales and continued portion pack sales momentum. We also continued to deliver solid operating results, growing non-GAAP earnings per share by 56% in the fourth quarter and 45% for the fiscal year. Importantly, for the year, free cash flow generation of $603 million was nearly eight times last year's $77 million."
For the 52-week period ended September 28, 2013 the company reported portion pack sales of $3.187 billion, up 18% from sales of $2.708 billion for the comparable year-earlier period. For the same period the company reported brewer and accessory sales grew 9% from $759.8 million in fiscal 2012 to $827.6 million in fiscal 2013. The company’s income from royalties and “other products” saw a 9% decline, from $390.5 million in fiscal to 2012 to $343.2 million in fiscal 2013.