Coffeemaker producer Keurig Green Mountain reported second-quarter fiscal 2014 net sales of $1.1 billion, up 10% from the second quarter of fiscal 2013. Net income for 2Q fiscal 2014 was $162.1, up 22% from $132.4 million in 2Q fiscal 2013.
Keurig Green Mountain sells coffee makers, as well as specialty coffees and other beverages using its brewing system.
The company said double-digit sales and earnings growth in its fiscal second quarter came on the heels of a strong holiday season.
Brewers and accessories sales in 2Q of fiscal 2014 recent quarter was 137.6 million, up 9% from $126.8 million in 2Q of fiscal 2013. The remainder of sales were from sales of portion packs and other packaged coffees/beverages.
The company reported that 1.8 million Keurig system brewers were sold in the fiscal quarter—1.7 million units were sold by Keurig and 0.1 million were sold by the company's licensed brewer partners.
Keurig net sales for the first six months of its 2014 fiscal year were $2,489.7 million, up 6% from $2,343.9 million in the first half of its fiscal year 2013. Net income in the first half was $300.3 million, up from 25% $240.0 million.
Keurig President and CEO Brian Kelley commented on company expectations: "Short term, we are focused on successfully introducing our Keurig 2.0 hot system; adding a number of additional brands as new Keurig partners; and, preparing for the launch of our Keurig cold system in fiscal year 2015."
Kelley added that, longer term, continued investment in innovation, including new product development, expected to maintain a pipeline of new products and drive financial performance.
The company expects fiscal 2014 net sales growth in the high single digits compared to fiscal year 2013. Capital investment is expected to be in the range of $350 million to $400 million.
Third quarter net sales growth is expected to be in the high single digits compared to the third quarter of fiscal 2013.
to Daily News