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Last Update: 09-Nov-11 10:13 ET
SodaStream Tops Third Quarter Expectations; Guides Above Consensus
SodaStream (SODA $37.00 +2.89) reported third quarter earnings of EUR0.37 per share, EUR0.13 better than the Capital IQ Consensus Estimate of EUR0.24.
Revenues rose 38.8% year/year to EUR58.3 million versus the EUR54.5 million consensus.
For the fourth quarter, the company expects fourth quarter revenue to be up ~24% year/year to ~EUR62 million versus EUR59.51 million Capital IQ Consensus Estimate.
Net income on an adjusted basis for fourth quarter 2011 is expected to be in line with fourth quarter 2011 adj. net income of Euro 4.3 million, reflecting an increase in advertising and promotional expenses to support the rollout of new distribution in the United States during the upcoming holiday season.
Gross margin for the third quarter was 53.5%, compared to 56.3% for the same period in 2010. This decrease was mainly due to the growing portion of soda maker starter kit sales in the revenue mix, as part of mgmt's strategy to increase market penetration. Company also announces that it has signed an exclusive distribution agreement in Brazil with Grupo Cassab, a company that has managed global consumer brands in Brazil for more than 80 years. SodaStream products are expected to be available in Brazil during the first quarter of 2012.
Revenues rose 38.8% year/year to EUR58.3 million versus the EUR54.5 million consensus.
For the fourth quarter, the company expects fourth quarter revenue to be up ~24% year/year to ~EUR62 million versus EUR59.51 million Capital IQ Consensus Estimate.
Net income on an adjusted basis for fourth quarter 2011 is expected to be in line with fourth quarter 2011 adj. net income of Euro 4.3 million, reflecting an increase in advertising and promotional expenses to support the rollout of new distribution in the United States during the upcoming holiday season.
Gross margin for the third quarter was 53.5%, compared to 56.3% for the same period in 2010. This decrease was mainly due to the growing portion of soda maker starter kit sales in the revenue mix, as part of mgmt's strategy to increase market penetration. Company also announces that it has signed an exclusive distribution agreement in Brazil with Grupo Cassab, a company that has managed global consumer brands in Brazil for more than 80 years. SodaStream products are expected to be available in Brazil during the first quarter of 2012.
