Home carbonated beverages company SodaStream International Ltd. (Nasdaq: SODA) today reaffirmed its full-year guidance, after reporting double-digit revenue growth, but little profit growth, for the third quarter of 2013. Revenue rose 28.5% to $144.6 million for the third quarter from $112.5 million for the corresponding quarter.
GAAP-based net profit fell to $16.4 million ($0.76 per share) for the third quarter from $16.8 million for the corresponding quarter, but non-GAAP net profit rose to $19.3 million ($0.90 per share) from $18.2 million. The company beat the analysts' consensus of earnings per share of $0.75, and was in line with the revenue consensus of $145 million.
In its guidance, SodaStream forecasts 30% revenue growth to $567 million in 2013, and 30% non-GAAP net profit to $65 million.
Western Europe and the Americas continue to be SodaStream's main markets, with $75.5 million and $49.8 million revenue, respectively, in the third quarter.
We continued to execute against our primary objective of expanding our user base in our fastest growing markets during the third quarter," said SodaStream CEO Daniel Birnbaum. "Our progress is being fueled by positive consumer response to our demand creation efforts and innovative products. With unmatched leadership and capabilities in home carbonation, we believe we are on track to continue acquiring new users and deliver strong annual sales and earnings growth for the next several years."
Published by Globes [online], Israel business news - www.globes-online.com - on October 30, 2013
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