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NEW YORK (CNNMoney.com) -- Shares of Green Mountain Coffee Roasters tumbled Friday after the company lowered its outlook and said it would no longer provide specific figures for its K-Cup individual serving sales.
More than 80% of Green Mountain's sales come from K-Cups and its Keurig machines.
Late Thursday, the Waterbury, Vt.-based coffee company said "investors should not rely" on its previously announced outlook for K-Cup shipments, which had been for a 64% to 68% increase in 2011.
Green Mountain (GMCR) also said it was "broadening" its outlook for fiscal 2011. It lowered the bottom end of its projected profit range, changing its earnings-per-share range to between $1.19 and $1.29 from the prior $1.24 to $1.29.
The company said it lowered its outlook "to allow for expected volatility in coffee prices and flexibility to support anticipated new product launches."
At the same time, Green Mountain reported a 73% jump in fourth-quarter sales to $373 million. The company also reported a 97% jump in earnings, to 22 cents a share.
Shares of Green Mountain have been having a good year, rising 21% from the start of the year, but it's been a rocky few months for the company. In September, the Securities and Exchange Commission began investigating the company over Green Mountain's "revenue-recognition practices with one of its fulfillment vendors."
Last month, the company said it would restate three-years worth of earnings, citing accounting errors.
Shares of Green Mountain fell almost 10% in trading Friday. ![]()






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