Caribou Coffee Q4 Net Sales Increase 12.4%
Caribou Coffee has reported net sales of $76.47m for the fourth quarter ended January 3, 2010, an increase of 12.4% compared to $68.05m for the same quarter previous year.
For the quarter, EBITDA improved 10.8% to $6.8m compared to $6.1m during the same quarter previous year. The year-over-year EBITDA increase was primarily due to improved performance within retail coffeehouses and growth in the commercial and franchise segments.
Net income for the quarter was $2.97m or $0.15 per diluted share compared to $1.26m or $0.07 per diluted share for the previous year quarter.
Coffeehouse sales were $64.6m, an increase of 6.8% compared to $60.5m for the same period last year.
Commercial sales were $9.6m in the fourth quarter of 2009 compared to $5.4m in the year ago quarter, an increase of 76.6% as a result of higher sales to existing and new customers. Franchise sales were $2.3m in the fourth quarter of 2009 compared to $2.1m in the same quarter of the prior year.
For the fiscal 2009, net sales increased 3.4% to $262.54m in fiscal 2009 compared to $253.89m in the prior year. Net income for the year was $5.14m or $0.26 earnings per diluted share compared to net loss of $16.34m or $0.87 loss per diluted share for the previous year.
Michael Tattersfield, president and CEO of Caribou Coffee, said: “This quarter concludes a successful year of positive revenue and earnings growth for Caribou Coffee. These results highlight our strategy to diversify and strengthen our business model by expanding beyond our retail coffeehouse business into a multi-channel branded coffee company.
“With a successful growth strategy in place, strong cash flow and secure financial position, we are confident in our ability to deliver shareholder value for our investors and rewarding experiences for our team members and customers.”
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