Sodastream Surges On Strong Q4 Report

February 18, 2016 10:27 AM | 1 min read | Make a Comment
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Shares of
Sodastream International Ltd
SODA
rose by more than 10 percent on Thursday after the company reported its
fourth quarter results. Sodastream said it earned $0.24 per share in the fourth quarter on revenue of $112.9 million. Wall Street analysts were expecting the company to earn $0.17 per share on revenue of $110 million. Sodastream noted that on a constant revenue base, its quarterly revenue would have been $124.4 million. The company added that its adjusted operating income fell to $6.2 million from $8.1 million a year ago but would have totaled $11.5 million on a constant currency basis. Sales of Sparkling Water Maker Starter Kits fell to $41.5 million in the quarter from $53.1 million a year ago while Consumables sales also fell to $70.5 million from $72.5 million a year ago. Gross margin for the quarter fell to 48.0 percent from 50.4 percent a year ago. The company cited foreign exchange rates were attributed to the dip in margins which were partially offset by higher share of CO2 refills in the product mix. Daniel Birnbaum, Chief Executive Officer of SodaStream, commented, "The past year was a period of significant change as we sought to set the company on a course for renewed growth moving forward. We began repositioning SodaStream as a healthy water brand and launched our new portfolio of enhanced better-for-you flavors, completed the consolidation of our manufacturing base in our new state-of-the-art plant in Lehavim, and reconfigured our regional management structure including new leadership in key markets. "There is still work ahead of us in order to position the company for consistent profitable growth, but I am confident that our recent actions have us heading in the right direction and will create value for shareholders over the long-term."
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Posted In: EarningsNewsMoversDaniel BirnbaumHealth & WellnessSodaStreamSodastream EarningsSparkling Water
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