Shares of Green Mountain Coffee Roasters (GMCR) rose up to 25% in after hours trading. The specialty coffee and tea producer, known for its Keurig business, reported its fourth quarter results after the market close.
Fourth Quarter Results
Green Mountain Coffee Roasters reported fourth quarter revenues of $946.7 million, up 33% on the year. Sales were driven by the fact that Green Mountain's fourth quarter had an extra week, and came in much higher than analysts expectations of $902.7 million.
Gross margins fell 230 basis points to 33.4% as a result of higher manufacturing costs due to the ramp-up of the manufacturing base.
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