Israeli home beverage carbonated systems company Sodastream International Ltd. (Nasdaq: SODA; TASE: SODA) saw its share price rise over 20% in trading on Nasdaq, giving the company a market cap of $2.43 billion, after posting strong second quarter financial results.
The company reported $171.5 million revenue, up 31.3% from $130.6 million in the corresponding quarter of 2017. Net profit was $26.1 million ($1.14 per share), up 81.7% from $14.4 million ($0.64 per share) in the corresponding quarter of 2017.
Sodastream CEO Daniel Birnbaum said, "We are extremely pleased to be reporting the most successful quarter in our Company's history. The product, distribution and marketing initiatives we are executing across our global portfolio of markets continue to propel our business to new heights and strengthen our foundation for future growth."
He added, "Most notably, sales of sparkling water maker units increased 22% to over 1 million in the second quarter and sales of gas refill units grew 17% to an all-time record 9.7 million. These results underscore the progress we are making towards our primary strategic objectives of expanding household penetration and increasing usage of our home carbonation system. I believe we are now positioned better than ever to drive continued growth and increased shareholder value over the long-term, especially as SodaStream is a great alternative to single-use plastic bottles which are being revealed as a hazard not only to the environment but also to human health."
Published by Globes [online], Israel business news - www.globes-online.com - on August 1, 2018
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