In general, affected employees would be considered for qualified regular or flexible positions that may be available in the future. For those employees whose positions are eliminated, GMCR is offering outplacement services and severance based upon years of service in order to support the transition.
GMCR manufactures all of the licensed, Keurig Brewed® certified K-Cup® and Vue® packs for use in its Keurig® Single Cup coffee makers in nine facilities in North America: Castroville, California; Knoxville, Tennessee; Windsor, Virginia; Essex, Waterbury and Williston, Vermont; Sumner, Washington; Montreal and Toronto, Ontario. In addition, the Company conducts research and development for its beverages and its Keurig® Single Cup systems in Waterbury, Vermont and Burlington, Reading and Wakefield, Massachusetts and employs administrative and support staff in a number of locations including South Burlington, Vermont.
On February 6, 2013, GMCR reported revenue growth of 16% in its fiscal first quarter 2013, with GAAP earnings per share growth of 6% and non-GAAP earnings per share growth of 27% over the same prior year period. As of September 29, 2012, the end of its fiscal year 2012, GMCR employed approximately 6,000 regular and temporary employees in the U.S. and Canada combined including approximately 1,200 employees added from external hires during its fiscal year 2012.
About Green Mountain Coffee Roasters, Inc.As a leader in specialty coffee and coffee makers, Green Mountain Coffee Roasters, Inc. (GMCR) (NASDAQ: GMCR), is recognized for its award-winning coffees, innovative Keurig ® Single Cup brewing technology, and socially responsible business practices. GMCR supports local and global communities by investing in sustainably-grown coffee, and donating a portion of its pre-tax profits to social and environmental projects. GMCR routinely posts information that may be of importance to investors in the Investor Relations section of its website, including news releases and its complete financial statements, as filed with the SEC. The Company encourages investors to consult this section of its website regularly for important information and news. Additionally, by subscribing to the Company’s automatic email news release delivery, individuals can receive news directly from GMCR as it is released. Forward-Looking Statements Certain information contained in this filing, including statements concerning expected performance such as those relating to net sales, earnings, cost savings, acquisitions and brand marketing support, are “forward-looking statements”. Generally, these statements may be identified by the use of words such as “may,” “will,” “would,” “expect,” “should,” “anticipate,” “estimate,” “believe,” “forecast,” “intend,” “plan” and similar expressions intended to identify forward-looking statements. These statements may relate to: the expected impact of raw material costs and our pricing actions on our results of operations and gross margins, expected trends in net sales and earnings performance and other financial measures, the expected productivity and working capital improvements, the ability to maximize or successfully assert our intellectual property rights, the success of introducing and producing new product offerings, ability to attract and retain senior management, the impact of foreign exchange fluctuations, the adequacy of internally generated funds and existing sources of liquidity, such as the availability of bank financing, the expected results of operations of businesses acquired by us, our ability to issue debt or additional equity securities, our expectations regarding purchasing shares of our common stock under the existing authorizations, and the impact of the inquiry initiated by the SEC and any related litigation or additional governmental inquiry or enforcement proceedings.
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