Tony Perkins, president of the Christian conservative Family Research Council (FRC), has claimed that Starbucks' support for gay marriage has led to billions in losses.

In a radio bulletin, Perkins gave the National Organization for Marriage's (NOM) “Dump Starbucks” boycott campaign credit for the coffee giant's recent financial woes.

“It didn't take long for Starbucks to lose bucks over marriage,” Perkins says in the bulletin. “In January, Starbucks CEO Howard Schultz said endorsing same-sex marriage would be good for business. Boy was he wrong! Siding with radical homosexuals has its price in this country. And in Starbucks' case, the cost is about ten billion dollars. That's how much the coffee giant lost in stock value since the campaign to 'Dump Starbucks' got underway. In the last eight months, the company's missed sales projections and watched stocks dive from $61 to $48, for a loss of more than $10.2 billion. How many companies will fall for the lie that endorsing same-sex marriage will help business? J.C. Penney's tried it. Target's tried it. Now Starbucks. And every time, there's a reason to believe that alienating millions of customers will directly affect a company's bottom line.”

He added: “On the flip side, look at Chick-fil-A. They found out that supporting traditional values pays just as many cultural dividends as financial ones.”

What Perkins neglected to mention is that that $60.67 record high was reached on April 13, nearly 4 months after the company endorsed gay nuptials and 6 months after it came out against the Defense of Marriage Act (DOMA). And while the company's stock price did plummet in August, it has since recovered to $50.84 as of Thursday, which is $13.09 higher than last year. In fact, Starbucks stock has a positive trendline going back as far as 2009.