Green Mountain Coffee Roasters Inc. reported net income of $6.3 million for the third quarter, a 72% increase over $3.7 million last year.
The direct marketer posted net sales of $118.1 million for the quarter ended June 28, a 43.3% increase over $82.4 million in the prior year.
The Waterbury, VT firm reported that its consolidated cost of sales increased to 64% of total net sales compared to 58.6% last year.
Management attributed this primarily to a significant increase in sales of Keurig at home single-cup brewers as a percentage of total net sales (which have lower gross margins than the company’s other products).
In addition, higher green coffee and other commodity costs and higher manufacturing costs due to the continued capacity investment in the firm
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