Sodastream Fizzing Higher On Strong Earnings

Sodastream International Limited

shares are popping higher this morning, gaining more than 9% after the maker of soda machines reported better than expected earnings. The Israeli-based company reported earnings of 22 euro cents per share on revenues of 45.1 million euros. The company also raised its sales outlook for 2011, saying it now sees sales rising 30%, as opposed to 25%. Wall Street was expecting 15 euro cents per share on 42.2 million euros in revenue. The company said soda maker unit sales increased 99% to 592,000. "We experienced strong growth in each of our geographic regions in the first quarter of 2011, led by the Americas where sales were up 153%," commented Daniel Birnbaum, Chief Executive Officer of SodaStream. "After a very successful holiday season in the U.S., we continued to see strong demand for our soda makers as well as strong sell-through of our consumables. These trends are positive indicators that our U.S. strategy to build brand awareness and consumer adoption is succeeding. In addition, we continue to extend our reach into new and established markets around the world. Our heightened outlook for the year reflects our optimism as we pursue global growth opportunities through 2011 and beyond." At last check, shares of Sodastream were up $4.09 to $47.82, a gain of 9.35%‎.