Reuters: Global Markets: Green Mountain shares fall on weak sales outlook

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Green Mountain shares fall on weak sales outlook Feb 6th 2013, 22:00 Wed Feb 6, 2013 5:00pm EST (Reuters) - Green Mountain Coffee Roasters Inc (GMCR.O) forecast current-quarter sales below Wall Street expectations and said growth would slow in its coffee and espresso maker business, sending its shares down 10 percent in after-market trade. The company, which makes the Keurig single-cup coffee brewer and the K-Cups that go with it, said it expected sales to grow by 14 percent to 18 percent in the second quarter. According to a Reuters calculation, this would result in second-quarter sales within a range of $1.01 billion to $1.04 billion, which would miss analyst expectations of $1.06 billion, according to Thomson Reuters I/B/E/S. Waterbury, Vermont-based Green Mountain lost some ground to lower-cost rivals in 2012 after some Keurig patents expired. Founder and Chairman Robert Stiller was also demoted after a margin call forced him to sell stock when it was prohibited. The company said first-quarter profit rose to $107.6 million, or 70 cents per share, from $104.4 million, or 66 cents per share, a year earlier. On an adjusted basis, the company earned 76 cents per share. Sales rose 15.6 percent to $1.34 billion in the key holiday shopping period. Analysts on average had expected the company to earn 65 cents, on revenue of $1.33 billion in the first quarter. Shares of Green Mountain closed at $48.94 on the Nasdaq on Wednesday. (Reporting by Martinne Geller in New York, Arpita Mukherjee and Chris Peters in Bangalore; Editing by Maju Samuel) Link this Share this Digg this Email Reprints

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