SodaStream Q3 Net Falls 2.2 Percent; Revenue Up 28.5 Percent
October 30, 2013,
AIRPORT CITY, Israel-Third-quarter net income for SodaStream totaled $16.4 million, down 2.2 percent from the third-quarter net from last year.
Profit in the quarter, which ended on Sept. 30, slipped in spite of a gain in revenue of 28.5 percent, to $144.6 million. SodaStream posted revenue gains of 28.7 percent for its business in the Americas and 43.5 percent in Western Europe. On a product basis, the company's soda-maker starter kits enjoyed a 34 percent boost in revenue, while revenue for its consumables was up 26 percent.
"We continued to execute against our primary objective of expanding our user base in our fastest-growing markets during the third quarter," said Daniel Birnbaum, SodaStream's CEO. "Our progress is being fueled by positive consumer response to our demand-creation efforts and innovative products."
SodaStream said it now expects full-year 2013 revenue to reach $436.3 million, up 30 percent from 2012 revenue. Net income should experience a 23 percent increase as well, to $43.9 million.