After Hours GMCR Huge Earnings Beat Stock Trading Higher

http://www.StockMarketFunding.com After Hours GMCR Huge Earnings Beat Stock Higher stock market, stocks, futures, stock alert, S&P500, day trading, trends, stock market video, stock trading, investing Green Mountain Coffee Roasters, Inc., (NASDAQ:GMCR - News), a leader in specialty coffee and coffeemakers, today announced its fiscal 2011 second quarter results for the thirteen weeks ended March 26, 2011. Second Quarter Fiscal 2011 Performance Highlights* Net sales up 101% over the same period in fiscal 2010 GAAP EPS of $0.44; Non-GAAP EPS of $0.48 GAAP operating income increases 198% over Q2'10; Non-GAAP operating income improves 178% over the year ago quarter GAAP net income increases 172% over Q2'10; Non-GAAP net income up 147% over Q2'10 Second Quarter Fiscal 2011 Results* Net sales for the second quarter of fiscal 2011 increased 101% to $647.7 million as compared to $322.0 million for the second quarter of fiscal 2010. Under Generally Accepted Accounting Principles (GAAP), net income for the second quarter of fiscal 2011 totaled $65.4 million, or $0.44 per diluted share, representing an increase of 172% as compared to GAAP net income of $24.1 million, or $0.17 per diluted share, for the second quarter of fiscal 2010. The Company's non-GAAP net income for the second quarter of fiscal 2011 increased 147% to $71.5 million, from non-GAAP net income of $28.9 million in the second quarter of fiscal 2010. Second quarter fiscal 2011 non-GAAP net income excludes pre-tax items of: $1.9 million in Van Houtte transaction-related expenses, $11.7 million in amortization of identifiable intangibles related to the Company's acquisitions, $0.4 million in legal and accounting expenses related to the SEC inquiry and pending litigation, and a $3.0 million tax benefit related to the reversal of certain non-deductible acquisition-related expenses incurred in prior quarters which are now deemed deductible in accordance with recently enacted tax regulations. Second quarter fiscal 2010 non-GAAP net income excludes pre-tax items of: $4.8 million in transaction-related expenses for the Diedrich acquisition and $3.1 million in amortization of identifiable intangibles related to the Company's prior acquisitions. On the same basis of presentation, GMCR's non-GAAP earnings per diluted share increased 131% to $0.48 in the second quarter of fiscal 2011 from $0.21 in the second quarter of fiscal 2010. "We believe healthy post-holiday in-store brewer inventory levels and positive word of mouth from enthusiastic Keurig owners combined to help drive a very strong fiscal second quarter for GMCR," said Lawrence J. Blanford, GMCR's president and CEO. The Keurig® Single-Cup Brewing system brews a perfect cup of coffee, tea, hot cocoa or iced beverage in under one minute at the touch of a button. "We believe we are in the early stages of potential Keurig system adoption in North America and continue to work to scale our operations, processes and workforce to meet both the current and expected demands of the business," said Blanford. "The addition of leading, nationally recognized brands like Dunkin' Donuts, Starbucks and Swiss Miss to the Keurig Single-Cup Brewing system expands customer choice within the system, fuels new excitement by current Keurig owners and users, raises system awareness, and has the potential to attract new consumers to the system."