WATERBURY — Green Mountain Coffee Roasters Inc. has reported positive first-quarter results.
The Waterbury-based company said Wednesday its net sales were $1.3 billion for a 13-week period ending Dec. 29, up from $1.158 billion for the same quarter the previous year.
“Our strong first-quarter performance underscores the connection consumers have to their Keurig brewers; the soundness of our business model; and the value inherent in our brand portfolio,” said Brian P. Kelley, GMCR’s president and CEO, in a statement.
Single-serve portion packets made up the bulk of sales, amounting to $863.7 million worth of product, a 21 percent increase from the same period the previous year. Sales of brewers and accessories totaled $377.3 million, an increase of 14 percent. Other products and royalties decreased by 12 percent to $98.1 million.
The number of brewers sold was 4.95 million, an increase of 18 percent over the prior year period, but that amount doesn’t include returns.
Kelley, a former Coca-Cola executive who started at the end of last year, said there is untapped potential for the Keurig single-serve brand in the U.S. and globally. The company has formed an international business unit.
“We are in the early days of a marked evolution in how consumers purchase, prepare and customize hot beverages in their homes,” Kelley said in the statement.MORE IN Vermont News
- Most Popular
- Most Emailed
- RICHARD'S POOR ALMANACK: On this day in 1927, striking Colo. miners attacked with machine guns by state police; 1877, Thomas Edison announces invention of the phonograph, 1959, Alan Freed fired by WABC 770 AM for accepting payola to promote records.
- RICHARD'S POOR ALMANACK: On this day in 1863, President Abraham Lincoln delivers short speech in Gettysburg, Pa.; in 1984, a Pemex LNG facility destroyed by series of gas explosions, 600 people are killed; in 1998, Senate builds fire under Bill Clinton.
- RICHARD'S POOR ALMANACK: On this day in 1831 – Independent South American super-state, Gran Colombia, dissolved; 1856 - Fort Buchanan built to control Apache warriors; 1970 - William Calley Jr. goes on trial after 1968 massacre at My Lai, Vietnam.
- RICHARD'S POOR ALMANACK: Wisconsin Sen. Joe McCarthy takes advantage of Cold War jitters and builds a tidy little fiefdom for himself on Capitol Hill. It's all good, but pride goes before you know darn well what. The junior senator is damaged going down.
- RICHARD'S POOR ALMANACK: On this day in 1927, Leon Trotsky is expelled from the Soviet Communist Party, leaving Joseph Stalin in control of the Soviet Union; in 1970, Oregon DOT tries to dynamite a dead whale off a beach with a rather shocking result.
- RICHARD'S POOR ALMANACK: In 1972, Southern Airways Flight 49 is hijacked, the crew and passengers held for ransom. The hijackers want $10 million and passage to Cuba. In 2007, in Santiago, Chile, King Juan Carlos of Spain loses patience with Hugo Chavez.