UPDATE: Green Mountain Coffee Posts Upbeat FQ4 Results, Raises FQ1 Forecast
Green Mountain Coffee Roasters (NASDAQ: GMCR) reported better-than-expected fiscal fourth-quarter results and issued upbeat forecast for fiscal first quarter.
Green Mountain's quarterly earnings surged to $91.9 million, or $0.58 per share, from $75.4 million, or $0.47 per share, in the year-ago period. Excluding special items, the company earned $0.64 per share, versus analysts' estimates of $0.48 per share.
Its total revenue rose 33% to $946.7 million from $711.9 million. However, analysts had expected revenue of $902.7 million.
Green Mountain projects adjusted earnings of $0.62 to $0.67 per share for its first quarter on revenue of $1.32 billion to $1.37 billion. However, analysts were expecting earnings of $0.57 per share on revenue of $1.28 billion.
Green Mountain shares surged 21.59% to $35.20 in after-hours trading.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.