Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) posted quarterly profit and sales that missed analysts' expectations, sending its shares plunging 22 percent to $51.99 in after-hours trading on Wednesday.
On a non-GAAP basis, earnings per share nearly doubled to 47 cents from 24 cents in the year-ago quarter.
GAAP earnings increased to $75.82 million or $0.47 per share from $26.99 million or $0.20 per share in the comparable quarter of the previous year.
Net sales surged 91 percent to $711.9 million, with 83 percent from its Keurig Single Cup Brewing system and its recurring portion pack sales, the company said.
Analysts, on average, polled by Thomson Reuters expected earnings of $0.48 per share on revenue of $760.48 million.
Looking ahead for the first quarter, the company anticipates non-GAAP earnings per share to be between 35 cents and 40 cents, on sales growth of 85 percent to 90 percent. Analysts expect earnings of 35 cents for the first quarter.
For fiscal 2012, the company still expects non-GAAP earnings per share in the range of $2.55 to $2.65, while analysts expect $2.62 per share. The company sees net sales growth of 60% to 65% from fiscal 2011
Waterbury, Vermont-based Green Mountain closed Wednesday's regular trading session at $67.02, down 4.6 percent. The stock has been trading in the 52-week range between $29.55 and $115.98.
{$end}
No comments:
Post a Comment