MILAN - Green Mountain Coffee Roasters Inc. said Wednesday its fiscal third-quarter profit more than doubled on higher sales. Still, revenue fell slightly short of market expectations.
For the third quarter ended June 27, the Waterbury, Vermont-based company's earned US$14.1 million, or 36 cents per share, from US$6.3 million, or 16 cents per share, in the same period a year earlier.
Revenue soared to US$190.5 million, up 61 percent, from US$118.1 million a year ago below Wall Street's forecast of US$194 million.
During the third quarter the company shipped 398 million K-Cup portion packs, up 64% from a year ago. In addition, 439,000 Keurig brewers were shipped, a 187% increase, the company said.
The company opened a production facility last fall in the Forks of the River Industrial Park in east Knox County.
The 334,000-square-foot facility on 31 acres along Water Plant Road was built outside New England in order to support Green Mountains growth across the country.