Green Mountain Coffee Roasters
is in the green after upping its 2010 forecast.
While the company reported a 13% decline in first-quarter earnings late Wednesday, last year's results were boosted by a $17 million gain related to a patent litigation settlement.
Green Mountain now expects full-year earnings in the range of $1.95 to $2.05 a share, up from a previous estimate of $1.85 to $1.95 a share.
During the quarter, Green Mountain earned $12.5 million, or 27 cents a share, compared with $14.4 million, or 37 cents, in the year-ago period. Analysts expected the company to earn 16 cents a share.
Sales surged 77% to $349.4 million from $197 million, boosted by the sales of Keurig single-cup portion packs, Keurig brewer and accessories.
Shares are jumping 8.6% to $6.86 in afternoon trading.
-- Reported by Jeanine Poggi in New York.
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