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GREEN MOUNTAIN COFFEE, INC. REPORTS FY 1993 RESULTS

 WATERBURY, VT, Dec. 8 /PRNewswire/ -- Green Mountain Coffee, Inc. (NASDAQ: GMCR, BSE: GMR) reported today net sales for the fiscal year ended Sept. 25, 1993 of $15.7 million, a 17.9 percent increase over fiscal 1992, and a net loss of $2.3 million or $(0.99) per share. This net loss compares to net income of $384,000 or $0.15 per share on net sales of $13.3 million for fiscal 1992. The net loss for fiscal 1993 was anticipated and resulted primarily from non-recurring, non-cash charges to compensation expense of approximately $1.3 million related to an employee stock award plan and the difference between the exercise price and market value of stock options outstanding prior to the time of the company's initial public offering, and other expenses incurred in connection with the company's ongoing expansion into new geographic markets using its multi-channel distribution approach of wholesale, retail and direct mail sales. The company had net income for each of the previous five years.
 On Sept. 28, 1993, the company completed its initial public offering of common stock. Proceeds from the offering are being used to repay indebtedness, fund corporate expansion and better position the company to meet increased demand for specialty coffee and related products.
 Robert P. Stiller, president and chief executive officer stated "Green Mountain Coffee has positioned itself for accelerated growth. We now have the depth of management and the increased production and distribution capacity to offer our customers the best service and product in the industry. For example, our investment in one-way valve bag packaging technology reflects our commitment to deliver the freshest product possible to our customers. It also allows us to expand both the geographic distribution and number of channels through which we can market our product." Robert D. Britt, chief financial officer, added, "We believe that much of the non-recurring expenses needed to position the company for accelerated growth are behind us."
 Green Mountain Coffee, Inc. roasts over 25 high-quality arabica coffees to produce over 80 varieties of coffee that it sells under the Green Mountain Coffee Roasters and Green Mountain Coffee brands. The majority of the company's revenue is derived from its wholesale operations which service over 2,400 wholesale accounts including supermarkets, gourmet shops, convenience stores, restaurants, universities and offices. The company currently operates nine retail stores in Vermont, New Hampshire, Maine, Connecticut and upstate New York. In addition, the company offers a direct mail catalog and has over 30,000 current catalog customers who have made one or more purchases within the past 12 months.
 -0- 12/8/93
 /CONTACT: Claudia Lovell of Green Mountain Coffee, 802-244-5621/
 (GMCR GMR)


CO: Green Mountain Coffee, Inc. ST: Vermont IN: FOD REA SU: ERN

CM-DJ -- NE005 -- 1787 12/08/93 13:00 EST
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Publication:PR Newswire
Date:Dec 8, 1993
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