Assistant Professor – Kinesiology – Sports Management

first_imgAn active and well-articulated research agenda, coupled withinterest and ability to secure external grant funding.Experience working with racially diverse students in theclassroom, and an understanding of how historical patterns ofexclusion of groups within higher education, and the profession,shape patterns of participation and outcomes.Willingness to examine and re-mediate one’s instructional,relational, and classroom practices to more effectively engage andsupport historically underserved students.We encourage applicants whose research or scholarly interestsintersect with any of the following: Data Analytics, DesignThinking, Ethnic Studies Education, Health Equity, HealthInfrastructures, and/or Sustainable Futures. Doctorate by date of appointment.Demonstrated ability to teach undergraduate and graduateclasses in Sport Management, as well as core major classes and/orgeneral education classes as needed.Record of publications or strong potential forpublications.Knowledge of disciplinary trends in the field of SportManagement regarding issues that center upon race, gender, sexualorientation, immigration, and underserved communities.Must have academic training grounded in Sport Management, withtheoretical background and research foci that includes one or moreof the following sport management sub-specialties: analytics,economics, E-sports, ethics, facilities and events, finance,globalization, governance, law, marketing, socio-culturalperspectives, or sustainability.Ability and desire to serve on thesis committees, supervisetheses/projects, and advise in both the graduate and undergraduateprograms.Ability and willingness to develop ongoing relationships andinternship opportunities with sport organizations, facilities, andcommunity groups at a variety of levels.Ability to work collegially at both the undergraduate andgraduate levels.Awareness of and sensitivity to the educational goals of amulticultural population as might have been gained incross-cultural study, training, teaching or other comparableexperience. Teach sport management courses at the undergraduate andgraduate levels, supervise theses/projects, serve on thesiscommittees, and advise students at both the undergraduate andgraduate levels. May also be expected to teach core major classes,general education, or support other departmental needs.Develop and sustain an ongoing record of research, scholarship,and/or creative activities, as well as other professionalengagement.Design and teach introductory and advanced level core coursesin Sport Management and Culture, as well as special topics on race,ethnicity, gender, immigration and other inclusive topics.Help to facilitate the growth of the undergraduate program insport management and culture, and propose courses/curricula asneeded.Help to facilitate growth of an innovative graduate sportmanagement program, propose courses/curricula as needed, andestablish internship opportunities with Bay Area sportorganizations.Actively engage in community outreach to increase thevisibility of the sport management programs.Membership and participation in appropriate professionalassociations. Contribute when appropriate to SJSU’s Institute forthe Study of Sport, Society, and Social Change.Conduct research, seek external funding where appropriate,present professional papers, and publish in professionaljournals.Participate in shared governance usually in department,college, and university committee and other serviceassignments.Demonstrated awareness of and experience responding to thestrengths and needs of a student population of great diversity—inage, cultural background, ethnicity, primary language and academicpreparation—through inclusive course materials, teachingstrategies, and advisement. Summary:The Department of Kinesiology at San José State University seeksqualified candidates for a full-time, Assistant Professor positionin Sport Management beginning in the Fall of 2021. Applicants mustdemonstrate the ability to teach at the undergraduate and graduatelevels with the potential for teaching excellence both within theclassroom and through online modalities. In addition, applicantsare expected to show scholarly promise in the form of publicationsin relevant journals, presentations at scholarly conferences, andthe willingness to apply for external funding. The Department ofKinesiology strongly values diversity, equity, and inclusion and iscommitted to creating and maintaining an atmosphere of socialjustice. Candidates from diverse backgrounds and with research inthe area of gender, race, diversity, inclusion, and equity in sportbusiness and management are strongly encouraged to apply. Our goalis to prepare our students in the field of sport management tounderstand structural inequities, including structural racism andsexism, and effect positive change throughout all levels of sportand physical activity.The SJSU Strategic Plan, Transformation 2030, calls upon the campusto: “Gain a national and global reputation for academic excellencecharacterized by scholarly and professional contributions fromfaculty members who are genuine teacher-scholars. The Department ofKinesiology is located in the College of Health and Human Sciences.We have a renewed, ongoing commitment to excellence in teaching andresearch/scholarship and engagement. The campus is poised to bloomand innovate, strengthening our connection to the surrounding SanJosé and Silicon Valley communities and further fulfilling oursocial justice mission of access, equity, opportunity, and success.The research endeavor at both the graduate and undergraduate levelsplays a critical role in preparing students for future careeropportunities, developing highly adaptable skill sets, and creatingmentoring opportunities with faculty members. The university’sstudents bring an inherent creativity that can be harnessed toaddress and solve pressing problems facing society today.The applicant must be committed to teaching and research activitiesof the highest academic and professional caliber, and maintain astudent-centric approach, thus contributing to the development ofstudents as productive, responsible, and caring citizens of theworld. In particular, applicants must have a strong commitment to:(a) teaching and working with a diverse population of students atthe undergraduate and graduate levels, (b) curricular innovation tocomplement and further advance the program, and (c)scholarship/research relevant to their field of practice. (d) Theapplicant should also demonstrate awareness of and sensitivity tothe educational goals of a multicultural population. The idealcandidate will be a highly motivated self-starter, have excellentwritten and oral communications skills, be a team player, and havean interest in developing university-community collaborations. Thecandidate must demonstrate potential for teaching and scholarlyexcellence.Required Qualifications: Preferred Qualifications: Responsibilities: Compensation: Commensurate with qualifications andexperience. See Benefits Summary for details.Starting Date: August 2021Eligibility: Employment is contingent upon proof ofeligibility to work in the United States.Application Procedure:Click Apply Now to complete the SJSU Online Employment Applicationand attach the following documents: Letter of interestCurriculum VitaeStatement of teaching interests/philosophy (1 page) thatdescribes what role faculty play in student success.Statement of research plans (1 page).Diversity Statement (1 page) that discusses best strategies forsupporting students historically marginalized in theprofession.Three references with contact information. Inquiries may be directed to the Department Chair:Dr. Tamar Z. SemerjianE-mail: [email protected]: 408-924-3069About SJSU/Department of Kinesiology:The Department of Kinesiology began as the first public system ofphysical activity in higher education in the West and one of theearliest in the entire US. In common with most programs, it beganas a physical education teacher education program, but in the last50 years has diversified into preparing students for many careersincluding personal training, sport management, athletic training,adapted physical activity, cardiac rehabilitation, physicaltherapy, exercise physiology, coaching, and sport psychology.Our students hail from a variety of backgrounds, which helps tocreate a diverse and active academic environment. The students(approximately 1200 undergraduate and 80 graduate) in ourdepartment are passionate about human movement and research. Theyexplore a variety of topics in our inter-connected programs thatinclude inclusive physical activity in communities, exercisephysiology, rehabilitation sciences, sport management and culture,and preparation for teacher education. We also offer a variety ofcourses in physical activity, physical fitness, exercise, sports,and wellness to the wider campus community.This position is an excellent opportunity for scholars interestedin launching a career at a comprehensive University that is anational leader in graduating historically underserved students.SJSU has achieved both HSI (Hispanic Serving Institution) andAANAPISI (Asian American and Native American PacificIslander-Serving Institution) status. Moreover, 40% of our studentpopulation are first-generation and 38% are Pell-qualified. As aresult, we rank third nationally in increasing student upwardmobility. In fact, SJSU has recently been recognized as the#1 Most Transformative College in the country by Money Magazine.We seek candidates whose research/scholarship, teaching and/orservice has prepared them to contribute to our commitment toengagement and inclusion of culturally diverse audiences in highereducation, and particularly in the area of Sport Management.The UniversitySan José State University enrolls over 35,700 students, asignificant percentage of whom are members of minority groups. Assuch, this position is for scholars interested in a career at anational leader in graduating URM students. The University iscommitted to increasing the diversity of its faculty so ourdisciplines, students, and the community can benefit from multipleethnic and gender perspectives.San José State University is California’s oldest institution ofpublic higher learning. Located in downtown San José (Pop.1,000,000) in the heart of Silicon Valley, SJSU is part of one ofthe most innovative regions in the world. As Silicon Valley’spublic university, SJSU combines dynamic teaching, research, anduniversity-industry experiences to prepare students to address thebiggest problems facing society. SJSU is a member of the 23-campusCalifornia State University (CSU) system.Equal Employment Statement:San José State University is an Affirmative Action/EqualOpportunity Employer. We consider qualified applicants foremployment without regard to race, color, religion, nationalorigin, age, gender, gender identity/expression, sexualorientation, genetic information, medical condition, maritalstatus, veteran status, or disability. This policy applies to allSan José State University students, faculty, and staff as well asUniversity programs and activities. Reasonable accommodations aremade for applicants with disabilities who self-disclose. Note thatall San José State University employees are considered mandatedreporters under the California Child Abuse and Neglect ReportingAct and are required to comply with the requirements set forth inCSU Executive Order 1083 as a condition of employment.Additional Information:A background check (including a criminal records check) must becompleted satisfactorily before any candidate can be offered aposition with the CSU. Failure to satisfactorily complete thebackground check may affect the application status of applicants orcontinued employment of current CSU employees who apply for theposition.Advertised: October 31, 2020 (9:00 AM) Pacific DaylightTimeApplications close:last_img read more

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Green Mountain Coffee reports 64 percent sales growth in Q3

first_img4,018 Thirteen weeks ended June 26, 2010 Weighted average shares outstanding Thirty-nine weeks ended 6/26/10 $0.13 GREEN MOUNTAIN COFFEE ROASTERS, INC.Unaudited Consolidated Statements of Cash Flows(Dollars in thousands) 131,677,459 $0.37 13,081 Acquisition of Diedrich Coffee, Inc. (25,051) 201,783 Commitments and contingencies 12,124 June 26, 2010 $985,792 Attributing a 64 percent net sales growth by the success of the Keurig Single-Cup Brewing System, Green Mountain Coffee Roasters, Inc of Waterbury has reported strong sales and earnings growth. Net sales for the third quarter of fiscal 2010 increased to $311.5 million as compared to $190.5 million reported in the third quarter of fiscal 2009. According to Generally Accepted Accounting Principles, net income for the third quarter of fiscal 2010 totaled $18.6 million, or $0.13 per fully diluted share; non-GAAP EPS of $0.19.Excluding transaction-related expenses incurred in the quarter, and the resulting tax effect of reversing the tax benefit associated with previously incurred acquisition-related expenses, the Company’s non-GAAP net income for the third quarter of fiscal 2010 was $25.8 million, or $0.19 per diluted share, representing an increase of 82% from $14.1 million, or $0.12 per diluted share, in the third quarter of fiscal 2009.1The Company completed its acquisition of Diedrich Coffee Inc. (’Diedrich’) on May 11, 2010 for $35 per share of common stock in a transaction with a total value of approximately $300 million. The recent Financial Accounting Standards Board (’FASB’) pronouncement on business combinations, effective in fiscal 2010 for the Company, requires acquisition-related costs be expensed rather than capitalized. The Company’s fiscal third quarter GAAP net income is inclusive of approximately $4.0 million of non-deductible expenses associated with the Diedrich acquisition incurred during the fiscal third quarter. In accordance with the FASB pronouncement, because the Diedrich acquisition closed during the fiscal third quarter, this quarter’s GAAP net income also reflects the tax effect of reversing the tax benefit of $3.2 million associated with the $8.1 million of acquisition-related costs for the Diedrich acquisition recorded during the first and second quarters of fiscal 2010.During fiscal 2010’s third quarter, 683 million K-Cup® portion packs were shipped system-wide by all Keurig licensed roasters, representing an increase of 72% over the year-ago quarter. Supporting continued growth in K-Cup demand, there were 846,000 system brewers with Keurig®-branded brewing technology shipped during the third quarter of fiscal 2010 compared to 444,000 shipped during the third quarter of fiscal 2009.The Company completed a three-for-one stock split during the third quarter, effected in the form of a stock dividend. Shareholders of record at the close of business on May 10, 2010 received two additional shares of common stock for every one share of common stock held on that date.Lawrence J. Blanford, GMCR’s President and CEO, said, ‘In our fiscal third quarter, through the strong efforts of all our employees, we delivered excellent results on our key financial performance metrics including revenue, gross margin, operating margin and net income. We have now achieved 11 consecutive quarters of better than 40 percent net sales growth. For the first nine months of fiscal 2010 we have produced net sales growth of 70% and non-GAAP earnings per share growth of 89% over the same period for fiscal year 2009.’‘Continued execution of our strategic business initiatives, including most recently, our acquisition of Diedrich, is driving GMCR’s growth and enabling us to advance adoption and awareness of our growing portfolio of compelling brands,’ said Blanford. ‘We believe the inherent strength of our business model, combined with our passionate employees, the strong support of our business partners and our fervent belief that we can transform the way the world views business are key drivers behind our growth and success.Blanford concluded, ‘The coming holiday buying season is shaping up to be another exciting opportunity for us to help more consumers discover and enjoy outstanding beverages with the convenience and choice of the Keurig Single-Cup brewing system. We are looking for a strong kickoff to our fiscal year 2011 and are providing our initial fiscal year 2011 estimate for sales growth in a range of between 44% to 50% and earnings per share of $1.15 to $1.20.’  Fiscal 2010 Third Quarter Financial ReviewKey Business Drivers & MetricsThe two primary drivers of the $121.0 million, or 64%, increase in the Company’s net sales were increases in total K-Cup portion pack net sales and Keurig brewer and accessory sales.Approximately 86% of consolidated net sales in the third quarter was from the Keurig brewing system and its recurring K-Cup portion pack revenue.Net sales from K-Cup portion packs totaled $197 million in the quarter, up 90%, or $93.1 million, over 2009.Net sales from Keurig brewers and accessories totaled $64 million in the quarter, up 69%, or 26.2 million, from the prior year period.For the Keurig business unit, net sales for the third quarter of fiscal 2010, after the elimination of inter-company sales, were $157.2 million, up 74% from net sales of $90.1 million in the third quarter of fiscal 2009.For the Specialty Coffee business unit (SCBU), net sales for the third quarter of fiscal 2010, after the elimination of inter-company sales, were $154.3 million, up 54% from net sales of $100.4 million in the third quarter of fiscal 2009.Costs, Margins and IncomeThird quarter 2010 gross profit increased to 35.2% of total net sales compared to 33.6% for the corresponding quarter in 2009. This was as a result of higher manufacturing gross margin derived from the increase in volume of the Company’s manufactured K-Cups as a percentage of total system volume.During the third quarter, the Company experienced continued higher levels of warranty expense and sales returns related to a quality issue associated with certain brewer models produced primarily in late calendar 2009. As previously disclosed, the Company implemented hardware and software changes which it believes has corrected the issue. The Company reached agreement with its suppliers and will recover approximately $6 million as reimbursement related to this issue. This recovery was reflected in the third quarter cost of sales as a reduction to warranty expense and substantially offsets the higher warranty expense and sales returns costs incurred in the fiscal third quarter.Selling, general and administrative expenses as a percentage of net sales for the third quarter were 23.0% as compared to 21.7% in the prior year. Third quarter 2010 general and administrative expenses include $4.0 million related to the Diedrich acquisition as well as the amortization of identifiable intangibles of $4.3 million due to the Company’s prior acquisitions as compared to $1.5 million in the prior year third quarter.The Company increased its GAAP operating income by 68%, to $38.2 million, in the third quarter of fiscal 2010, as compared to $22.8 million in the year ago quarter, and improved its GAAP operating margin to 12.3% from 12.0% in the prior year period. Excluding the impact of the $4.0 million transaction-related expenses in the third quarter of fiscal 2010, the Company’s non-GAAP operating income was up 85% to $42.2 million and represented 13.5% of sales compared to $22.8 million, or 12.0% of sales in the prior year.Interest expense was $1.5 million in the third quarter of fiscal 2010, compared to $1.1 million in the prior year quarter.Income before taxes for the third quarter of fiscal 2010 increased 70% to $36.7 million as compared to $21.7 million in the third quarter of fiscal 2009.The Company’s tax rate for the fiscal third quarter was 49.5% as compared to 34.7% in the prior year quarter reflecting the tax effect of the recognition of the estimated total $12 million non-deductible acquisition-related expenses incurred during the Company’s first, second and third quarters of fiscal 2010 for the Diedrich acquisition which closed during the Company’s fiscal third quarter.Balance Sheet HighlightsCash and short-term cash investments were $10 million at June 26, 2010, down from $144.2 million at March 27, 2010, primarily due to the Diedrich acquisition.Accounts receivable increased 88% year-over-year to $128.8 million at June 26, 2010, from $68.5 million at June 27, 2009, as a result of continuing strong sales during the third quarter of fiscal 2010, particularly within the retail channel where days sales outstanding is higher than other channels, and due to the recent Diedrich acquisition.Inventories increased 80% to $186.3 million at June 26, 2010 from $103.2 million at June 27, 2009, reflecting the Company’s effort to ensure sufficient inventories of brewers and K-Cups for the fourth quarter of fiscal 2010.Long-term debt increased to $271.4 million at June 26, 2010 from $72.7 million at March 27, 2010 as a result of the Company’s execution of a $140 million term loan used to pay a portion of the Diedrich purchase price.Business Outlook and Other Forward-Looking InformationFourth Quarter and Fiscal Year 2010With one quarter remaining, the Company has refined its outlook for its fiscal year 2010 and is providing its first estimates for its fourth quarter of fiscal 2010. It now expects:Total fiscal fourth quarter consolidated net sales growth of 58% to 63% resulting in total fiscal 2010 consolidated net sales growth of 66% to 68%, compared to the prior estimate of 62% to 65%.Total fiscal 2010 K-Cup portion packs shipped system-wide by all Keurig licensed roasters to increase in the range of 73% to 76%, compared to prior estimate of 73% to 78%.Fiscal fourth quarter non-GAAP operating margin in the range of 13.0% to 13.5%, resulting in a total fiscal 2010 non-GAAP operating margin in the range of 12.1% to 12.5% excluding acquisition-related transaction expenses.Fiscal 2010 interest expense of $5.5 million to $6.5 million.A tax rate of 39.2% for the fiscal year excluding the tax impact of expenses related to the Timothy’s and Diedrich acquisitions.Fiscal fourth quarter fully diluted non-GAAP earnings per share in the range of $0.18 to $0.20 per share, resulting in total fiscal 2010 fully diluted non-GAAP earnings per share in the range of $0.69 to $0.71 per share, excluding any acquisition-related transaction expenses. The fully diluted non-GAAP earnings per share estimate of $0.69 to $0.71 for the 2010 fiscal year includes $15 million pre-tax or $0.07 per diluted share non-cash amortization expenses related to the identifiable intangibles of the Company’s acquisitions.Capital expenditures for fiscal 2010 in the range of $120 to $140 million, as compared to prior estimates in the range of $105 to $125 million.Depreciation and amortization expenses in the range of $44 to $46 million for fiscal year 2010, including $15 million for amortization of identifiable intangibles, up from prior estimates of $40 to $44 million.First Issue of Company Estimates for Fiscal Year 2011The company also is providing its first estimates for fiscal year 2011:Total consolidated net sales growth of 44% to 50%.Total K-Cup portion packs shipped system-wide to increase in the range of 64% to 68%.Fully diluted earnings per share in the range of $1.15 to $1.20 per share, representing an increase in the range of 62% to 74% over fiscal year 2010’s fully diluted non-GAAP earnings per share estimate range of $0.69 to $0.71 per share. The fiscal 2011 estimate includes approximately $22 million, or approximately $0.09 per share, of non-cash amortization expenses related to the identifiable intangibles mentioned above.Use of Non-GAAP Financial MeasuresIn addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), the Company provides non-GAAP operating results that exclude certain charges or credits such as acquisition-related transaction expenses, the one-time operating income related to the settlement of the Company’s Kraft litigation, and non-cash related items such as amortization of identifiable intangibles. These amounts are not in accordance with, or an alternative to, GAAP. The Company’s management believes that these measures provide investors with greater transparency by helping illustrate the underlying financial and business trends relating to the Company’s results of operations and financial condition and comparability between current and prior periods. Management uses the measures to establish and monitor budgets and operational goals and to evaluate the performance of the Company. Please see the ‘GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations’ tables that accompany this press release for a full reconciliation the Company’s GAAP to non-GAAP results.Green Mountain Coffee Roasters, Inc. will be discussing these financial results and future prospects with analysts and investors in a conference call available via the Internet. The call will take place today at 5:00 PM ET and will be available, with accompanying slides, via live webcast on the Company’s website at www.GMCR.com(link is external). The Company archives the latest conference call on the Investor Relations section of its website for a period of time. A replay of the conference call also will be available by telephone at (719) 457-0820, Passcode 2978546 from 9:00 PM ET on July 28th through 9:00 PM ET on Monday, August 2, 2010.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.About Green Mountain Coffee Roasters, Inc.As a leader in the specialty coffee industry, Green Mountain Coffee Roasters, Inc. is recognized for its award-winning coffees, innovative brewing technology, and socially responsible business practices. GMCR’s operations are managed through two business units. The Specialty Coffee business unit produces coffee, tea and hot cocoa from its family of brands, including Tully’s Coffee®, Green Mountain Coffee®, Newman’s Own® Organics coffee, Timothy’s World Coffee® and Diedrich, Coffee People and Gloria Jeans®, a trademark licensed to the Company for use in North America and owned by Gloria Jeans Coffees International Pty. Ltd. The Keurig business unit is a pioneer and leading manufacturer of gourmet single-cup brewing systems. K-Cup® portion packs for Keurig® Single-Cup Brewers are produced by a variety of roasters, including Green Mountain Coffee, Tully’s, Timothy’s and Diedrich. GMCR supports local and global communities by offsetting 100% of its direct greenhouse gas emissions, investing in Fair Trade Certifiedâ ¢ coffee, and donating at least five percent of its pre-tax profits to social and environmental projects. Visit www.gmcr.com(link is external) for more information.Forward-Looking StatementsCertain statements contained herein are not based on historical fact and are ‘forward-looking statements’ within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as ‘anticipate,’ ‘believe,’ ‘could,’ ‘estimate,’ ‘expect,’ ‘feel,’ ‘forecast,’ ‘intend,’ ‘may,’ ‘plan,’ ‘potential,’ ‘project,’ ‘should,’ ‘would,’ and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially from those stated here. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the impact on sales and profitability of consumer sentiment in this difficult economic environment, the Company’s success in efficiently expanding operations and capacity to meet growth, the Company’s success in efficiently and effectively integrating Timothy’s and Diedrich’s wholesale operations and capacity into its Specialty Coffee business unit, the Company’s success in introducing and producing new product offerings, the ability of lenders to honor their commitments under the Company’s credit facility, competition and other business conditions in the coffee industry and food industry in general, fluctuations in availability and cost of high-quality green coffee, any other increases in costs including fuel, Keurig’s ability to continue to grow and build profits with its roaster partners in the At Home and Away from Home businesses, the Company experiencing product liability, product recall and higher than anticipated rates of warranty expense or sales returns associated with a product quality or safety issue, the impact of the loss of major customers for the Company or reduction in the volume of purchases by major customers, delays in the timing of adding new locations with existing customers, the Company’s level of success in continuing to attract new customers, sales mix variances, weather and special or unusual events, as well as other risks described more fully in the Company’s filings with the SEC. Forward-looking statements reflect management’s analysis as of the date of this press release. The Company does not undertake to revise these statements to reflect subsequent developments, other than in its regular, quarterly earnings releases.-Tables Follow-GREEN MOUNTAIN COFFEE ROASTERS, INC.Unaudited Consolidated Statements of Operations(Dollars in thousands except per share data) (14,949)Net income $0.09 – 131,677,459 $816,650 28,597 119,010,138 (43,127) 320,208 137,681,766 12,708 – – Net Sales General and administrative expenses $5,030 Patent litigation settlement (1,495) 38,187 $0.40 Other long-term liabilities – Accrued compensation costs 27 Diedrich Coffee, Inc. Net Sales (323)Interest expense Net cash provided by operating activities (18,165) – $985,792 Cash and cash equivalents at beginning of period $0.12 Goodwill – 137,898,253 – Additional paid-in capital 131,677,459 (25,051)Net income Other short-term liabilities $190,509 – $41,507 28,597 Cash and cash equivalents Patent Litigation Settlement ====== (1,080)  Income before income taxes (3,992) $985,792 Weighted average shares outstanding $- Thirty-nine weeks ended June 27, 2009 (3,376) 590,174 112,775,280 36,719 Income tax expense 18,570 – 137,898,253 144,835 137,681,766 (9,123)Deferred income taxes Liabilities and Stockholders’ Equity 401,428 66,558 $- Proceeds from borrowings of long-term debt 128,758 $- Basic income per share: Cost of Sales 665,584 36,719   Operating income (232,830) – (1,080) – (Gain) loss on futures derivatives Acquisition- related Transaction Expenses – $0.13 13,054 Patent litigation settlement Income tax expense – – Timothy’s Coffees of the World, Inc. Retained earnings Receivables $(10,361) 53,375 – 12,819 10,151 401,428 – $- $55,750 12,708 – 386,416 64,081 3,257 $0.20 Basic income per share: – Other long-term assets 49,558 – (5,626) ====== 137,681,766 – Current liabilities: 1,700 $1,927 79,772 GREEN MOUNTAIN COFFEE ROASTERS, INC.GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations(Dollars in thousands) 73,013 Acquisition- related Transaction Expenses 21,657 50,000 $190,509 Accrued expenses – (39) (163)Excess tax benefits from equity-based compensation plans Timothy’s Coffees of the World, Inc. $- $18,554 $- – $55,750 General and administrative expenses 126,428 $580,841 (7,517)Net income Tax benefit (expense) from exercise of non-qualified options   and disqualified dispositions of incentive stock options Net income – – Acquisition- related Transaction Expenses Net Sales   Operating income – Stockholders’ equity: Preferred stock, $0.10 par value: Authorized – 1,000,000 shares; No shares issued or outstanding – – (12,124) Provision for doubtful accounts Diluted income per share: (7,517) – – 25 Income tax benefit (expense) (42) Gross Profit – $0.37 241,811 36,478 Cash and cash equivalents at end of period $- Total liabilities and stockholders’ equity $41,507 Net Sales 15,474 Thirty-nine weeks ended June 26, 2010 Thirty-nine weeks ended June 27, 2009Cash flows from operating activities: – $12,124 $0.05 (7,517) Diedrich Coffee, Inc. 20,379 17,264 (1,870)ESOP unallocated shares, at cost ‘ 38,061 shares at June 26, 2010, and September 26, 2009 (17,000) 46,277 (17,000) Thirty-nine weeks ended June 26, 2010 168 Net income – 327 Non-GAAP (188) 13,178 Interest expense General and administrative expenses – $- 112,775,280 Acquisition of Timothy’s Coffee of the World Inc. 112,044 $8,981 $1,197,019 – Intangibles, net $0.01 (14,003)Inventories Net income – (3,851) GAAP – (6,342) $241,811 – $(0.09) (43,127)Net income – (1,500) (3,494)  Income before income taxes Accrued compensation costs (1,495) 131,677,459 $31,146 – – $7,399 12,124 Thirteen weeks ended 6/26/10 Cash flows from investing activities: Proceeds from sale of short-term investments (17,000) $41,507 137,681,766 $- 70,375 111,397,302 117,318,258 Weighted average shares outstanding 21,657 – Long-term debt 144,835 (41,451)Capital expenditures for fixed assets – (29,027)Proceeds from disposal of fixed assets Other income (expense) 22,215 Cost of sales 85,469 64,081 Basic income per share: Net change in revolving line of credit 57,001 9,497 – $8,981 – 3,992 (1,359) 22,776 Selling and operating expenses Gross Profit (205)Proceeds from issuance of common stock $311,514 (84,386) $(0.09) 6,759 280 Excess tax benefits from equity-based compensation plans 5,626 Gross Profit Net cash provided by financing activities – $580,841 $- 66,558 Other expense Other expense – $816,650 Net income – $4,100 Fixed asset purchases included in accounts payable and not disbursed at the end of each period: $12,549 $0.42 1 A complete reconciliation of the Company’s GAAP to non-GAAP results is provided with this announcement.ContactsGreen Mountain Coffee Roasters, Inc. 7.28.2010 $19,058 Total current liabilities $210 6,639 109,731 – $0.53 Acquisition- related Transaction Expenses 119,010,138 Basic income per share: – 1,927 72,903 33,165 $- $7,208 99,600 $311,514 131,677,459 140,000 21,275 (154,208) 940 192,912 Deferred income taxes, net 421 Adjustments to reconcile net income to net cash   provided by operating activities: $0.09 21,657 Acquisition of certain assets of Tully’s Coffee Corporation 9,517 – Amortization 372 – Thirty-nine weeks ended 6/27/09 General and administrative expenses $0.13 $0.13 – – $- Acquisition- related Transaction Expenses Thirteen weeks ended 6/27/09 Accrued expenses $- $1,197,019 6,351 (15,640)Income tax receivable, net (1,080)center_img $1,533 111,397,302 38,187 117,318,258 Net income 28,597 (1,927) GREEN MOUNTAIN COFFEE ROASTERS, INC.GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations(Dollars in thousands) (18,478) (1,495)  Income before income taxes – Loss on disposal of fixed assets 25,267 401,428 33,165 21,544 57,381 – 131,303,879 – – $18,554 441,875 Non-GAAP Weighted average shares outstanding $0.27 46,277 Noncash investing activity: – – 91,559 $- 42,179 207 102,470 – – – $55,750 $- Gross profit 2,500 540,612 137,898,253 137,898,253 – Net (decrease) increase in cash and cash equivalents – Changes in assets and liabilities: $0.05 $- $0.19 Weighted average shares outstanding 25,267 $0.35 (74)Total stockholders’ equity Acquisition- related Transaction Expenses 4,127 Non-GAAP Timothy’s Coffees of the World, Inc. Diedrich Coffee, Inc. (217) (3,494)Income before income taxes 665,584 137,162 102,470 GAAP Cost of Sales 665,584 46,277 – $0.42 58,852 22,776 320,208 – 16,611 (74) 320,208 Weighted average shares outstanding 49 126,428 – GAAP – Income tax payable – (35,325) 119,010,138 – 98,877 – Net cash used for investing activities 111,397,302 1,788 4,892 Basic income per share: 9,123 356,071 $- 522 117,318,258 11,500 Receivables, less allowances of $8,852 and $4,792at June 26, 2010, and September 26, 2009, respectively Proceeds from payment of note receivable (39) $0.13 (70,326) 804 Depreciation 117,318,258 5,681 27 201,783 (43,127) 72,903 –   Operating income – Other current assets – Weighted average shares outstanding 2,514 Income tax benefit (expense) 201,783 – – Total current assets 131,303,879 131,303,879 131,303,879 Deferred income taxes, net – 5,157 137,294 201,603 112,775,280 1,927 Income tax receivable 50,000 112,928 2,971 – 137,681,766 Net income $0.40 $0.01 – (3,376) $0.51 Cash flows from financing activities: – Accounts payable 131,677,459 112,775,280 Patent Litigation Settlement Non-GAAP 3,296 – – Other expense Income tax benefit (expense) – – GAAP Cost of Sales 126,428 $0.28 (3,494) – 55,853 – – – 119,010,138 GREEN MOUNTAIN COFFEE ROASTERS, INC.GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations(Dollars in thousands) 64,081 Repayments of long-term debt Total assets (3,750) 111,397,302 131,303,879 Short-term investments (217)Interest expense 218,821 Capital lease obligations – 457,617 Weighted average shares outstanding 3,979 Net sales 26,599 ===== 191,880 1,071 – 92,873 70,375 6,061 117,318,258 – Diluted income per share: – – Selling and operating expenses 135,981 187 131,303,879 Gross Profit $0.12 $14,140 – Inventories Accounts payable 112,775,280 $- (1,940)Deferred compensation and stock compensation $14,140 $- – $- Patent Litigation Settlement 3,861 12,708 33,165 – 40,711 252,380 – 225,481 179,413 152 (323) (39)Interest expense $25,762 (18,412)Net income – Weighted average shares outstanding September 26, 2009Assets $0.12 119,010,138 119,010,138 137,898,253 $- – Diluted income per share: – Fixed assets, net 587 179,413 Net income – Acquisition- related Transaction Expenses 662,133 112,775,280 Timothy’s Coffees of the World, Inc. $0.14 17,769 $580,841 – 116,521 – – 109,731 Selling and operating expenses – – 126,864 – – – – Net income Net income Accumulated other comprehensive loss Selling and operating expenses Selling and operating expenses Debt assumed in conjunction with acquisitions – Current portion of long-term debt (3,376)  Income before income taxes General and administrative expenses (491,814) 3,992 – 186,262 92,873 137,681,766 ===== Net income – Deferred financing fees $0.14 Diedrich Coffee, Inc. GREEN MOUNTAIN COFFEE ROASTERS, INC.Unaudited Consolidated Balance Sheets(Dollars in thousands) – (18,165) (17,000)Operating income – $190,509 (323)Interest expense – 17,000 36,049 – Other expense – – (217) 111,397,302 Thirteen weeks ended June 27, 2009 Other long-term assets, net – $14,140 10,230 137,898,253 27 98,877 Patent Litigation Settlement (305,261) $69,801 Common stock, $0.10 par value: Authorized – 200,000,000 shares; Issued ‘ 131,783,168 and 130,811,052 shares at June 26, 2010, and September 26, 2009, respectively GREEN MOUNTAIN COFFEE ROASTERS, INC.GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations(Dollars in thousands) $- Restricted cash and cash equivalents Acquisition- related Transaction Expenses Weighted average shares outstanding Diluted income per share: 92,873 Diluted income per share: 253 – 109,731 Net income – $- $- Cost of Sales 144,835 111,397,302   Operating income 117,318,258 – 22,776 Current assets: – 179,413 $0.35 3,216 – – $311,514 Other current assetslast_img read more

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Are millennials delusional? Half say they’ll cover the cost of college for their kids

first_imgLet’s start with some good news: The percent of parents saving for college is rising. In a new survey Fidelity Investments found that 69% of people with children under 18 were saving; that’s up from 64% last year. Another smart move? More than half of the savers are using tax-advantaged 529 accounts.Millennial parents, which Fidelity is defining as those born between 1981 and 1997, turn out to be the most aggressive with 74% reporting that they are saving for their kids’ college. Plus, 46% of them say they plan to cover the full cost of college for their children, compared to 35% of the broader group surveyed.It makes sense that this generation has an above-average desire to shield their offspring from the cost of college. Many of them have student debt themselves, including 56% of the 642 surveyed by Fidelity. This generation has been a part of, and even leaders of, a nationwide conversation about the downsides of indebtedness. In fact, a debate continues about whether student debt is causing delayed marriage, delayed home buying and delayed parenthood among young Americans. continue reading » 13SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Read more on Are millennials delusional? Half say they’ll cover the cost of college for their kids