SodaStream International Ltd. (NASDAQ: SODA) is seeing its stock battered this morning after earnings. The report showed that revenues increased 32% to Euro 66.1 million and its adjusted net income rose about 21% to Euro 5.1 million. The U.S. translation was sales of $85.7 million and $0.32 EPS. Thomson Reuters had estimates of $0.21 EPS and $62.95 million but we are holding off on translations because of reporting differences with this company being based in Israel.
Gross margin for the fourth quarter of 2011 was 57.3%, compared to 54.3% for the same period in 2010.
The company showed growth in the Americas as revenues increased 70%; unit sales of soda makers increased 8% to 767,000 while unit sales of flavors increased 24% to 4.6 million. The company further noted that unit sales of CO2 refills increased 27% to 3.4 million.
America is now the largest single market with sales growth at 104% for the year, unit sales of soda makers up 113% and CO2 refills and flavors up 98% and 132%, respectively.
Guidance appears to be where the damage is: full year 2012 revenue is expected to increase approximately 28% over 2011 revenue and net income is expected to increase by about 42%.
SodaStream shares are down 13% at $41.30 in pre-market trading and the 52-week range is $27.85 to $79.72.
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