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Fresh From the Roaster

Volume 2 · Issue 2

October · November · December1997


Bob Stiller, President & CEOLetter from Bob Stiller
President & CEO,
Green Mountain Coffee Roasters

Dear Roaster Reader,
Vermont is in the midst of my favorite season. The hillsides surrounding us here in Waterbury have been ablaze in the bright colors of autumn. Now, many of the leaves have fallen -- the annual precursor of the snow which will follow. As you will read in this issue, our business has continued to expand over the past few months. Our growth with Mobil Oil Corporation On the RunSM convenience stores will continue on a nationwide basis, our our international sales effort is introducing Green Mountain CoffeeTM to new customers around the world every day. The new addition to our distribution and production facility is nearing completion, as is the beneficio and hydroelectric project we funded in the Chanchamayo area of Peru. Our new company-owned retail store in South Portland opened in October, just as we introduced two new limited edition seasonal coffees: Autumn Harvest Blend and Holiday Blend. Green Mountain Coffee is now available at all Staples outlets across the U.S. We have continued to aggressively increase the penetration of Green Mountain Coffee into the workplace by expanding our network of office coffee service distributors.
As we look to the New Year, I thank you for your continued support, and wish you and your family a wonderful autumn and holiday season.

Sincerely,

Bob Stiller

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GMCR relocates retail store in So. Portland
NEW LOOK, FOCUS & PRODUCTS

Green Mountain has moved its South Portland, Maine retail store location from John Roberts Road to 343 Gorham Road in the Cornerbrook Center Complex across from the Maine Mall. The new location is the company's first to combine in its design a slice of Vermont, a relaxing and inviting family orientation, and an emphasis on specialty coffee beverages and their creation.

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Third Quarter Financial Results!
For the twelve months ended July 5, 1997, net sales increased 25.5% to $10,817,000 reported for the comparable 1996 period. Net income for the twelve weeks was $1,000 or $0.00 per share, compared to net income of $149,000 or $0.04 per share, reported for the comparable year-ago period. The latest quarter's results reflect the impact of the Company's increase in selling, sales support and marketing expenses associated with the Company's increased expansion efforts which commenced in March of 1996. This year-over-year net income decline was anticipated by the Company, the securities analyst that follows the Company and other industry observers.

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GMCR Office Coffee Service Business Continues to Expand
The demand for high quality coffee in the workplace has continued to fuel the expansion of Green Mountain's Office Coffee Service (OCS) segment. Many employers and businesses have found that providing employees with high-quality coffee eliminates the need for employees to leave the office in search of a good cup of coffee.
Early in 1997, five OCS companies were distributing Green Mountain Coffee to offices, primarily in the Northeast. Today over twenty-five distributors are placing Green Mountain Coffee in workplaces from Chicago to South Carolina and northward.

 

Peruvian Project Nears Completion
Just over a year ago, Green Mountain Coffee Roasters added Peruvian Organic Select™ to its product line. This certified organic coffee from the Chanchamayo area of Peru was recently designated as one of the company's Stewardship coffees.
In December of 1996, Deb Randall and Rick Peyser of Green Mountain visited Peru to meet with the farmers who grow Organic Peruvian Select. This coffee is grown on jungle hillsides where it is heavily shaded by lush canopies of native trees. While the Chanchamayo area is rich in natural beauty, the population of this remote region is economically challenged, and coffee processing facilities are generally quite primitive.

Shortly after returning to Vermont, Green Mountain received a proposal from sixteen farmers in this area who were seeking funding to build a beneficio (processing mill) and a hydroelectric plant to provide the mill and surrounding homes with needed electrical power. Working with Eco Foundation of San Diego, Green Mountain provided the necessary funding. The project which is nearing completion, will meet the immediate needs of the farmers and their families, and will fund additional projects in the area. Eco Foundation will receive a few cents per pound from the farmers for each pound of coffee processed at the new beneficio, which, in turn, will be redirected to other projects in this area where Organic Peruvian Select is grown.

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On the Run at Mobil TMBrews Green Mountain Coffee Coast-to-Coast

Green Mountain Coffee Roasters has signed a five-year agreement to provide coffee to Mobil Oil Corporation's new On The RunSM convenience stores nationwide. Currently Green Mountain Coffee is served at over 900 Mobil company-operated and Mobil dealer locations throughout the Northeast, Florida, Michigan, Illinois, Wisconsin, California and Arizona. Mobil reports that there are 183 On The RunSM locations in operation, with 1,200 planned by 2002. Green Mountain Coffee will be introduced in all new On The RunSM locations.

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Autumn Harvest Blend

Early this fall, Green Mountain is introducing two new limited edition coffees: Autumn Harvest Blend and Holiday Blend. Autumn Harvest Blend is a sumptuous and colorful blend of light and dark roasts. It will be available from mid-September through the end of October in 10-oz. valve bags, and in master packs and 2.2-oz. fractional packages for wholesale customers. Limited edition thermal travel mugs and long-sleeved T-shirts have been designed to support the introduction of this seasonal coffee.
Holiday Blend, which is a balanced, intricate blend of light and dark Stewardship coffees, will be available in 10-oz. bags from mid-October through the New Year's holiday.


Fresh From the Roaster is published quarterly by
Green Mountain Coffee Roasters
33 Coffee Lane,
Waterbury, VT 05676


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Last revised: November 06, 1997.