SodaStream Profit Beats But Sales Fall Short Of Estimates

SodaStream International Ltd. said Wednesday it had net income of $6.05 million, or 29 cents a share, in the first quarter, up from $1.78 million, or 8 cents a share, in the year-earlier period. Excluding restructuring costs, the maker of drink carbonation systems said it had per-share earnings of 40 cents, well ahead of the FactSet consensus of breakeven. Revenue rose to $90.3 million from $118.2 million, below the FactSet consensus of $101 million. Chief Executive Daniel Birnbaum said the company is on track with the restructuring program announced in October and is gearing up for the launch of a new portfolio of sparkling water flavors, which it believes "will resonate strongly with our consumer audience". Shares were slightly lower in premarket trade and are down 5% in the year so far, while the S&P 500 has gained 1.5%.