Farmer Brothers Co. reported unaudited consolidated earnings results for the first quarter ended September 30, 2009. For the quarter, the company reported loss from operations of $2,499,000, income before taxes of $2,595,000 and net income of $2,199,000 or $0.15 per basic and diluted share on net sales of $112,127,000 against loss from operations of $4,255,000, loss before taxes of $12,581,000 and net loss of $6,085,000 or $0.42 per basic and diluted share on net sales of $66,524,000 for the same period a year ago. Non-GAAP operating cash flow was $4,948,000 against $424,000 for the same period a year ago. Net sales increased 69%, driven by the addition of $43.7 million in net sales from the DSD Coffee Business that the company acquired from Sara Lee Corp., and the year-over-year increase of $2.7 million in net sales by Coffee Bean Intl. (CBI). The result in fiscal 2010 includes an increase in non-cash charges of $2.5 million for the depreciation and amortization primarily related to the recently completed CBI facility in Portland and the capital improvements in the Torrance facility, as well as non-cash compensation expenses. The company's net income included an increase in the value of its portfolio of preferred stocks, included in the company's total other income of $5.1 million that reflected net realized and unrealized gains in the first quarter, an improvement over last year's total other loss of $8.3 million.

Farmer Brothers Co. reported unaudited earnings results for the fourth quarter and year ended June 30, 2009. The company reported a net loss for its fourth fiscal quarter ended June 30, 2009 of $25.6 million or $2.00 per share, compared with a net loss in last year's fourth quarter of $4.0 million or $0.28 per share. For the quarter, the company reported loss from operations of $9.5 million and net sales of $113.06 million compared to loss from operations of $7.9 million and net sales of $66.9 million for the same period a year ago. For the full fiscal year, the Company reported a net loss of $33.3 million or $2.29 per share, compared with fiscal 2008 net loss of $7.9 million or $0.55 per share. Net sales increased 28% from $266.5 million in fiscal 2008 to $341.7 million in fiscal 2009. The company experienced higher pretax losses from operations of $15.2 million in fiscal 2009 compared with $10.6 million for fiscal 2008. For the year, the company reported loss before income taxes of $18.9 million compared to loss before income taxes of $15.3 million a year ago. For the year, the company reported Non-GAAP adjusted operating cash flow of $10.6 million compared to Non-GAAP adjusted operating cash flow of $4.6 million a year ago. For the year, the company reported capital expenditures of $38.9 million (including $11.2 million investment in the CBI plant) and the company reduced its debt from the $29.5 million it incurred to purchase the DSD Coffee Business to $8.9 million at the end of August 2009.

On August 26, 2009, Carol Farmer Waite, one of the Class III Directors of Farmer Brothers Co. and a member of the Nominating Committee, declined to stand for re-election at the upcoming 2009 Annual Stockholders Meeting.