July 31 - Specialty coffee company Green Mountain Coffee Roasters Inc's third-quarter earnings beat analysts' expectations, boosted by strong sales of its coffee and Keurig single-cup brewing systems, and forecast 2008 and 2009 earnings above analysts' estimates.
The company expects 2008 earnings, before special items, of 90 cents to 92 cents a share, and net sales to grow 44 to 46 percent.
Analysts were expecting earnings before items of 77 cents a share, on revenue of $497.8 million, according to Reuters Estimates.
For 2009, Green Mountain expects earnings before items of $1.30 to $1.40 a share, and net sales to grow between 40 to 45 percent. Analysts are expecting earnings of $1.13 a share, on revenue of $667.4 million.
The company, which sells coffee, cocoa, and tea to wholesale customers also forecast fourth-quarter earnings between 19 cents and 21 cents a share, and sales growth of 37 to 41 percent.
Analysts are expecting earnings, before items, of 21 cents a share, on revenue of $131.3 million.
Green Mountain reported third-quarter earnings of $6.3 million, or 25 cents a share, compared with $3.7 million, or 15 cents a share, a year ago.
Net sales rose 43 percent to $118.1 million. Analysts were expecting earnings of 21 cents a share, on revenue of $119.1 million.
Shares of the Waterbury, Vermont-based company closed at $38.52 Wednesday on Nasdaq.