Green Mountain Spikes on Outlook - TheStreet

Green Mountain Spikes on Outlook

Green Mountain ups its full-year outlook, sending shares soaring.
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NEW YORK(

TheStreet

) --

Green Mountain Coffee Roasters

(SYMBOL)

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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