Green Mountain Coffee Roasters Q2 net income up 118%
Operating income increased by 95% to $22.6m in Q2 of 2009 as compared to $11.6m reported in Q2 of 2008
Green Mountain Coffee Roasters has reported a net income of $13m, or $0.50 per diluted share, for the second quarter ended March 28, 2009, an increase of 118% compared to $6m, or $0.23 per diluted share, in the second quarter of fiscal 2008.
According to the company, net sales for the second quarter of fiscal 2009 totaled $193.4m, compared to $120.9m in the second quarter of fiscal 2008, representing a growth of 60%.
For the first six months of fiscal 2009, net income was $27.37m, or $1.06 per diluted share, compared to $8.88m, or $0.35 per diluted share, for the same period in fiscal 2008. Net sales were $390.33m, compared to $247.32m in the corresponding period of fiscal 2008.
It said that cost of sales increased to 67.9% of total net sales compared to 63.0% for the corresponding quarter last year.
Lawrence Blanford, president and CEO at Green Mountain Coffee Roasters, said: It is exciting to be sharing such results and to deliver the 11th consecutive quarter with our overall top-line growth being at least 39%. Because of the strength of our results in these first two quarters of our fiscal year, we are raising our sales and earnings estimates for the year as a whole.
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