SodaStream Shares Rise In Premarket After Results Beat Expectations

SodaStream International Ltd. shares rose 3.9% in Tuesday premarket trading after the company reported first-quarter results that beat estimates. SodaStream had net income of $6.1 million, or 29 cents per share, compared with $6.0 million, or 29 cents per share, for the same period last year. The FactSet estimate was 11 cents per share. Revenue for the quarter totaled $100.9 million, up from $90.3 million and exceeding the FactSet consensus of $89.0 million. Revenue from sparkling water maker starter kits rose 13% for the quarter, to $29.6 million from $26.2 million. Bank debt decreased 11.7% to $32.5 million from $36.8 million. SodaStream shares are down 31.6% for the past year while the S&P 500 is down 2.7% for the same period.