November 12, 2008 / 11:07 PM / 10 years ago

UPDATE 1-Green Mountain Q4 profit doubles on K-Cup sales

* Q4 profit doubles, beats estimates by $0.07

* Strong sales of Keurig brewers, K-Cup portion packs

* Q4 revenue beats estimates by $5.3 mln

* Sees fiscal 2009 revenue above estimates

* Shares up 5 percent

Nov 12 (Reuters) - Coffee company Green Mountain Coffee Roasters Inc GMCR.O reported a two-fold rise in quarterly profit as it shipped more Keurig brewers and K-Cup portion packs, and forecast revenue above market estimates for the current financial year, sending its shares up 5 percent.

The company, which saw a 62 percent rise in its shipments of K-Cup portion packs in the fourth quarter ended Sept. 27, said it expects to sell more than double the amount of At Home Single-Cup Keurig brewers and K-Cups during this holiday season in retail stores.

For the quarter, the Waterbury, Vermont-based company earned $7.1 million, compared with $3.6 million a year ago. Net sales rose 45 percent to $134.8 million.

The Keurig segment, which sells single cup brewing system, coffee and tea in K-Cups mainly in domestic wholesale and retail markets, contributed $74.6 million to Green Mountain’s revenue in the quarter.

Green Mountain acquired Keurig in June 2006 and the segment has been boosting its incremental sales over the quarters.

The company, which recently settled a patent lawsuit with Kraft Foods KFT.N, said it will record a pre-tax gain of $17 million or 38 cents a share related to the settlement in fiscal 2009.

Shares of the company were up $1.40 at $27 in trading after the bell. They had closed at $25.60 Wednesday on Nasdaq.

For the alerts, please double click on [ID:nWNAB2525] . (Reporting by Dhanya Skariachan in Bangalore; Editing by Himani Sarkar)

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