Caribou Coffee Reports Fourth Quarter And Fiscal Year 2011 Results

Caribou Coffee Company, Inc. (NASDAQ:CBOU), the second largest company-owned premium coffeehouse operator in the United States based on the number of coffeehouses, today reported financial results for the fourth quarter and fiscal year 2011 (periods ended January 1, 2012) and confirmed fiscal year 2012 guidance.

HIGHLIGHTS FOR THE FOURTH QUARTER OF 2011 INCLUDE:

• Consolidated sales increased 18.8%
• Comparable coffeehouse store sales increased 5.6%
• Commercial and Franchise sales increased 68.6%
• Net income attributable to Caribou Coffee Company, Inc. was $4.9 million, or $0.24 per diluted share
• Non-GAAP pro forma net income attributable to Caribou Coffee Company, Inc. was $2.8 million, or $0.14 per diluted share, compared to pro forma net income of $2.6 million, or $0.13 per diluted share for the same period in 2010 (see non-GAAP reconciliation at the end of this release)

HIGHLIGHTS FOR FISCAL YEAR 2011:

• Consolidated sales increased 15.0%
• Comparable coffeehouse store sales increased 4.7%
• Commercial and Franchise sales increased 62.3%
• Net income attributable to Caribou Coffee Company, Inc. was $35.2 million, or $1.69 per diluted share
• Non-GAAP pro forma net income attributable to Caribou Coffee Company, Inc. was $8.7 million, or $0.42 per diluted share, compared to pro forma net income of $5.6 million, or $0.27 per diluted share for the same period in 2010 (see non-GAAP reconciliation at the end of this release)

Speaking on behalf of the Company, Michael Tattersfield, the Company’s President and CEO commented, “Our fourth quarter marked the conclusion of a fantastic year for Caribou Coffee, in which we made progress strategically, financially and culturally. We are pleased to have delivered another solid quarter, one that rounds out a record year of financial performance for Caribou. Looking ahead, we are optimistic about what we can achieve across each of our business lines, but are particularly excited to be resuming meaningful development of company-owned coffeehouses. As always, we will continue to provide the meaningful experiences our guest’s love, while enhancing returns for our shareholders."