Caribou Coffee reports net income in Q3

Fri. November 06, 2009; Posted: 09:09 AM

Nov 06, 2009 (Datamonitor via COMTEX) -- CBOU | Quote | Chart | News | PowerRating -- Caribou Coffee has reported a net income attributable to the company of $654,000, or $0.03 per diluted share, for the third quarter ended September 27, 2009, compared to a net loss of $8.77 million, or $0.45 per diluted share, in the third quarter of 2008.

For the third quarter of 2009, total net sales increased 3% to $62.74 million, compared to $60.91 million in the third quarter of 2008.

For the third quarter of 2009, total net sales were $186.07 million, compared to $185.85 million in the third quarter of 2008. Net income attributable to the company was $2.17 million, or $0.11 per diluted share, compared to a net loss of $17.6 million, or $0.91 per diluted share, in the same period of 2008.

Michael Tattersfield, president and CEO of Caribou Coffee, said: "This quarter marks the fourth consecutive quarter of positive earnings for Caribou Coffee. These results were driven by strong execution at every level of our business and a fundamental focus on growing our multi channel business, a key component of our future growth strategy. We are focused on becoming a branded coffee company and are making the necessary investments to expand the brand. Our strong balance sheet and cash flow positions the company for future growth."

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