SodaStream Beat Street Expectations; Raises 2012 Outlook

Retail Reuters

Israel's SodaStream International Ltd (SODA) posted second-quarter profit above Wall Street expectations on strong growth in the United States and western Europe, and the company raised its outlook for the year.  

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U.S.-listed shares of the company were up 8% in premarket trading. They closed at $41.25 on Tuesday on the Nasdaq.

SodaStream, which sells a system that lets consumers make carbonated drinks at home, now expects 2012 profit to grow 55% and revenue 40%. It had previously forecast profit growth of 50% and an increase in revenue of 33%.

Net income increased to $9.5 million, or 45 cents per share, from $6.6 million, or 32 cents per share, a year earlier.

Excluding items, the company earned 52 cents per share. Revenue jumped 49% to $103 million.

Analysts on average had expected earnings of 46 cents per share on revenue of $90.6 million, according to Thomson Reuters I/B/E/S.