SodaStream profit up from Wal-Mart sales

 

Boosted by its launch at US retail chain, Israel-based manufacturer of beverage carbonation systems says its 2nd-quarter net income jumped 36%.

Associated Press

SodaStream International Ltd. says its second-quarter net income jumped 36%, boosted by strong demand fueled by its launch at Wal-Mart Stores Inc.

BDS has boycotted SodaStream because some of its machines are built in contested territory. Meanwhile, the company employs hundreds of Palestinians.

The company raised its revenue and profit outlook, pushing shares higher in morning trading.

SodaStream makes beverage carbonation systems that enable consumers to easily transform tap water into carbonated soft drinks and sparkling water.

The Israel-based company said that net income was $12.8 million, or 60 cents per share, for the three-month period ended June 30. That compares with $9.4 million, or 45 cents per share, in the year-ago period.

Adjusted to exclude stock-based compensation expense, quarterly earnings per share were 74 cents. Revenue rose 26% to $132.4 million from $103 million.

Analysts, on average, expected a profit of 67 cents per share on $129.6 million in revenue, according to a FactSet poll.

SodaStream said its sales of soda maker starter kits rose 25% to $49.9 million, while sales of consumables, including gas refills and flavors, grew 28% to $78.9 million. Sales of other products more than doubled to $3.6 million.

The company now expects full-year revenue to increase about 30% from 2012 revenue of $436.3 million. That would mean revenue of $567.2 million. It previously expected annual growth of 27%. Analysts expect full-year revenue of $558 million.

SodaStream also said it expects net income to grow 23%, up from 20%, and adjusted net income to grow 30%, up from 27%. The company did not provide per-share estimates.

 

View original Ynet publication at: http://www.ynetnews.com/articles/0,7340,L-4413062,00.html

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