SodaStream Beats Q4 Expectations As Profits Improve, Revenue Falls

Shares of SodaStream International rose 1.8% in premarket trade Thursday, after the beverage company beat fourth-quarter earnings and revenue expectations. Net income for the quarter hit $2.83 million, or 13 cents per share, compared with a loss of $8.19 million, or 39 cents per share during the same period a year ago. Adjusted earnings per share for the fourth quarter were 24 cents, well above the FactSet consensus of 17 cents. SodaStream reported revenue fell to $112.9 million in the quarter, compared with $126.5 million last year. Revenue was better than expected, the FactSet consensus was $110 million. The company said the decrease in revenue from the previous year was mostly due to weakened foreign currencies, relative to the U.S. dollar. The company is also in transition from soda to a healthy water brand. Chief Executive Daniel Birnbaum said while they've begun to see benefits, there is still plenty of work to do to sustain profitable growth.