UPDATE 2-Green Mountain Q4 beats Street, Q1 EPS view disappoints

* Q4 EPS $0.34 vs est $0.33

* Q4 sales rises 65 pct to $222.2 million, beats est

* Q1 EPS outlook $0.11-$0.15 lags est $0.19

* Shares fall 12 pct after the bell (Adds analyst comments, background)

By Mihir Dalal

BANGALORE, Nov 11 (Reuters) - Green Mountain Coffee Roasters Inc (GMCR.O) posted higher-than-expected quarterly results, on strong sales of its Keurig single-cup brewers and their attendant K-cup refills, but shares fell 12 percent as its first-quarter earnings outlook fell short of expectations.

The company expects first-quarter earnings of 11 cents to 15 cents a share on sales growth of 61 to 66 percent. Analysts on average were expecting earnings of 19 cents a share, according to Thomson Reuters I/B/E/S.

"There is some confusion (among investors) over the first-quarter guidance. We would not be sellers on this guidance," said Janney Montgomery Scott analyst Mitchell Pinheiro.

The earnings outlook seems to be below consensus on lower-than-expected operating margins, said Pinheiro.