SodaStream Takes a Bath After Earnings & Guidance (SODA)
SodaStream International Ltd. (NASDAQ: SODA) is seeing its stock battered this morning after earnings. The report showed that revenues increased 32% to Euro 66.1 million and its adjusted net income rose about 21% to Euro 5.1 million. The U.S. translation…
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SodaStream International Ltd. (NASDAQ: SODA) is seeing its stock battered this morning after earnings. The report showed that revenues increased 32% to Euro 66.1 million and its adjusted net income rose about 21% to Euro 5.1 million. The U.S. translation was sales of $85.7 million and $0.32 EPS. Thomson Reuters had estimates of $0.21 EPS and $62.95 million but we are holding off on translations because of reporting differences with this company being based in Israel.
Gross margin for the fourth quarter of 2011 was 57.3%, compared to 54.3% for the same period in 2010.
The company showed growth in the Americas as revenues increased 70%; unit sales of soda makers increased 8% to 767,000 while unit sales of flavors increased 24% to 4.6 million. The company further noted that unit sales of CO2 refills increased 27% to 3.4 million.
America is now the largest single market with sales growth at 104% for the year, unit sales of soda makers up 113% and CO2 refills and flavors up 98% and 132%, respectively.
Guidance appears to be where the damage is: full year 2012 revenue is expected to increase approximately 28% over 2011 revenue and net income is expected to increase by about 42%.
SodaStream shares are down 13% at $41.30 in pre-market trading and the 52-week range is $27.85 to $79.72.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
