GMCR reports 102% increase in net sales in Q1 2012

Green Mountain Coffee Roasters, Inc., (GMCR) announced on 1 February net sales of over $1.1 billion in the first quarter results for the fiscal year 2012 In the thirteen weeks ended December 24, 2011, GMCR saw an increase in net sales by 102% over the year ago quarter, which were recorded at $574.1 million. 
“North American consumers continue to embrace the convenience, choice and consistent experience provided by the Keurig Single Cup Brewing system and, as evidenced by our strong holiday sales, are encouraging friends and family to do the same,” said Lawrence J. Blanford, GMCR's President and CEO in a press release. “We believe our sales in the period were, in part, the result of our efforts to ensure strong in-stock positions on store shelves as well as due to growing awareness of the Keurig brand which was aided by our nationwide advertising and strong in-store merchandising.” The release noted that with increasing consumer adoption, the Keurig Single Cup Brewing system, supported by GMCR’s growing family of owned and non-owned beverage brands in K-Cup packs, is changing the way North America brews its coffee and other beverages. “The value of single-serve, at-home brewing seems to be resonating with consumers,” added Blanford. “According to NPD Group, in calendar 2011, sales of single-serve coffee makers accounted for 50 per cent of the total dollars consumers spent overall in the coffee maker category. The Keurig Single Cup Brewing system has set the bar for consumers’ single-cup experience, and drove an estimated 35 per cent unit share of all coffee makers during the October through December 2011 period according to NPD.” In GAAP figures, the company’s performance led to earnings per share (EPS) of $0.66 compared to first quarter fiscal year 2011 EPS of $0.02. Operating income of $145.8 million compared to first quarter fiscal year 2011 operating income of $23.3 million. Net income of $104.4 million compared to first quarter fiscal year 2011 net income of $2.4 million.