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SodaStream raises guidance

7 Nov, 2012 15:14
שלח תגובה במיילGlobes' correspondent

SodaStream reported strong revenue and profit growth for the third quarter, beating its own expectations.

SodaStream International Ltd. (Nasdaq: SODA) reported strong revenue and profit growth for the third quarter of 2012, beating its own expectations. The company raised its full-year guidance for 2012 and predicts strong growth for next year.

SodaStream's share price jumped 12% in premarket trading, after closing at $34.16 yesterday, giving a market cap of $693 million.

Revenue rose 49% to $112.5 million for the third quarter from $75.7 million for the corresponding quarter of 2011. GAAP-based net profit rose 66% to $16.8 million ($0.80 per share) for the third quarter from $10.1 million for the corresponding quarter, and non-GAAP net profit also rose 66% to $18.2 million ($0.87 per share) from $11.5 million.

SodaStream raised its full-year guidance 46% growth from its $289 million revenue in 2011, compared with its previous guidance of 40% growth. It expects net profit to increase by 59% from the net profit of $27.5 million in 2011, compared with its previous growth forecast of 55%.

SodaStream's revenue in Western Europe, its largest market, rose 33% to $52.6 million for the third quarter from $39.7 million for the corresponding quarter, and revenue growth in the Americas was 61% to $38.7 million from $24 million, and revenue growth in Asia was 145% to $10.9 million from $4.5 million.

SodaStream CEO Daniel Birnbaum said, "We had another very strong quarter highlighted by gains in all geographic regions and product categories with demand well ahead of our expectation. Our growth strategies have yielded excellent financial results year-to-date and position the company for continued expansion in 2013 and beyond. We enter the fourth quarter with strong momentum, especially in the US where we've quickly built a powerful distribution network for our expanding portfolio of soda makers and consumables. Our newest flagship soda maker, the Source, is set to debut at select retailers worldwide."

Published by Globes [online], Israel business news - www.globes-online.com - on November 7, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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