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Last $22.94 USD
Change Today +1.29 / 5.96%
Volume 28.4K
As of 8:10 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

farmer bros co (FARM) Key Developments

Farmer Bros Co. Launches Signature Line of Metropolitan(TM) Single Cup Coffees

Farmer Brothers Co. is launching a single-serving cup option under its Metropolitan brand. The new Metropolitan single cup coffee range will complement the Company's diverse line of signature single cup offerings. Metropolitan single cups are made with 100% Arabica beans and roasted for peak flavor, offering to drinkers a freshly-brewed cup of coffee with gourmet taste. The cups are compatible with all 1.0 and 2.0 single cup brewing systems and are now available to foodservice outlets, health care institutions, universities, offices and more, nationwide. Metropolitan offers a complete line of gourmet coffees, featuring classic blends, premium espressos and seasonal flavors. Among the many exceptional products is a direct trade line of coffees. The direct-trade buying model through which these coffees are purchased is built on sustainable sourcing, healthful farming practices and paying a premium price for excellent coffees. These principles permeate the entire path these coffees follow through production, and the company believe that direct-trade program has a lasting positive effect on farmers, their families and their communities.

Farmer Brothers Co. Announces Executive Changes

On May 18, 2015, Farmer Bros. Co. announced the appointment of Scott W. Bixby as the company's Senior Vice President, General Manager Direct Store Delivery, effective as of May 27, 2015. Effective July 1, 2015, Thomas W. Mortensen, Senior Vice President of Route Sales, will retire from the company after more than 36 years of service to the company. Mr. Mortensen will remain an employee through his retirement date of July 1, 2015 and transition his duties and responsibilities to Mr. Bixby upon commencement of Mr. Bixby's employment with the company on May 27, 2015. In connection with and effective upon his retirement as Senior Vice President of Route Sales, Mr. Mortensen's employment agreement and change in control severance agreement previously entered into with the company will terminate. Mr. Bixby served as Vice President, Customer Development for Hill's Pet Nutrition from 2013 to May 2015. Mr. Bixby's responsibilities included all US customer sales relationships, e-commerce, customer service, consumer services, retail marketing, and multi-functional customer development.

Farmer Brothers Co. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2015

Farmer Brothers Co. reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2015. For the quarter, the company reported net sales of $132.507 million compared to $125.525 million a year ago primarily due to increases in sales of coffee and other beverage products resulting primarily from the effects of pricing and product mix changes. Loss from operations was $1.405 million compared to $2.075 million a year ago. Loss before taxes was $2.790 million compared to income before taxes of $2.702 million a year ago. Net loss was $2.572 million or $0.16 per basic and diluted share compared to net income of $2.506 million or $0.16 per basic and diluted share a year ago. Adjusted EBITDA was $8.829 million compared to $11.117 million a year ago. Non-GAAP Net income excluding restructuring and other transition expenses was $1.0 million, and non-GAAP Net income excluding restructuring and other transition expenses per common share-diluted was $0.06. For the nine months, the company reported net sales of $413.300 million compared to $398.183 million a year ago. Income from operations was $4.701 million compared to $6.589 million a year ago. Income before taxes was $3.071 million compared to $9.925 million a year ago. Net income was $2.839 million or $0.17 per diluted share compared to $9.021 million or $0.57 per diluted share a year ago. Adjusted EBITDA was $31.378 million compared to $35.717 million a year ago. Capital expenditures for purchases of plant, property and equipment were $13.6 million as compared to $19.3 million in the first 9 months of the prior fiscal year.

Farmer Brothers Co. to Report Q3, 2015 Results on May 07, 2015

Farmer Brothers Co. announced that they will report Q3, 2015 results on May 07, 2015

Farmer Brothers Co., Q3 2015 Earnings Call, May 07, 2015

Farmer Brothers Co., Q3 2015 Earnings Call, May 07, 2015

 

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