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Portion Packs Drive Green Mountain Fiscal Q2 Sales Increases

Green Mountain Coffee Roasters, Inc. has announced that net sales for its fiscal second quarter, ended March 30, were $1 billion, up 14% from sales of $885 million for the year-earlier period. For the first half of the company’s fiscal year, GMCR reported net sales of $2.34 billion, up 15% from sales of $2.04 billion in the prior year’s first half.
“Our fiscal second quarter results demonstrate the leverage inherent in our business model,” said Brian Kelley, GMCR’s president and CEO. “Specifically, strong sales of our single-serve packs drove 14% revenue growth and 45% non-GAAP earnings per share growth in the quarter. Our industry-leading single-serve business— made up of single-serve packs, Keurig brewers and accessories— grew a healthy 16% in our second fiscal quarter contributing to strong earnings growth and significant free cash flow generation. We expect the Keurig brewer installed base in U.S. households to grow between 25% to 30% in fiscal 2013 with volume of our single-serve packs growing proportionately with the anticipated brewer installed base.”
On a segment basis, the company reported net single-serve pack sales for the fiscal second quarter of $794 million, up 21% from sales of $655 million in the prior-year period. For its brewers and accessories, the company reported second quarter net sales of $126.8 million, down 10% from net sales of $140.2 million in the year-earlier period.