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  "documentTitle": "Green Mountain Coffee Roasters (GMCR)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
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  "presentationDate": "2011-10-17 00:00:00",
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  "notes": "The slide provides context for the Van Houtte acquisition and its impact on operating expense ratios.",
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      "text": "Van Houtte’s operating expenses (which include Selling and Operating Expense and General and Administrative Expenses) ran at approximately 40% of net sales",
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      "text": "GMCR completed its acquisition of Van Houtte on December 17, 2010\nVan Houtte’s operating expenses (which include Selling and Operating Expense and General and Administrative Expenses) ran at approximately 40% of net sales",
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      "text": "operating expenses as % of net sales: 40%",
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      "text": "Source: GMCR 8-K filed March 3, 2011 (EX-99.2, EX-99.4)",
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      "text": "Yr Ended 3/29/08, 3/28/09, 4/3/10, 9/25/10; Total Revenues 370,370, 361,465, 381,034, 416,557; Total OpEx 153,652, 154,642, 156,389, 163,657; % sales 41.5%, 42.8%, 41.0%, 39.3%",
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