SodaStream Reports Record Fourth Quarter Results

SodaStream International Ltd., a leading manufacturer of home beverage carbonation systems, announced its results for the three and twelve month periods ended Dec. 31, 2012. For the fourth quarter ended Dec. 31, 2012 the company's total revenue increased 55.2 percent to $132.9 million from $85.7 million in the fourth quarter 2011. Its net income increased 41.6 percent to $7.5 million compared to $5.3 million a year ago, and adjusted net income was $9.4 million compared to $6.7 million in the prior year. Diluted earnings per share increased 38.5 percent to $0.36, compared to $0.26 in the fourth quarter 2011 and adjusted diluted earnings per share were $0.45 compared to $0.32 in the prior year.

For the year ended Dec. 31, 2012, SodaStream reported its total revenue increased 51.0 percent to $436.3 million from $289.0 million in 2011. Net income increased 59.6 percent to $43.9 million compared to $27.5 million a year ago, and adjusted net income was $50.0 million compared to $32.9 million in the prior year. Diluted earnings per share increased 56.0 percent to $2.09, compared to $1.34 in 2011 and adjusted diluted earnings per share were $2.39 compared to $1.60 in the prior year.

"Our fourth quarter performance was marked by significant growth in all major areas of our business and represents a strong finish to another record year," said Daniel Birnbaum, chief executive officer of SodaStream, in a prepared statement. "Our efforts throughout 2012 to increase global awareness of our brand and category and expand our retail presence culminated in a very successful holiday season. For the first time ever we exceeded 1 million soda makers sold in a quarter, resulting in approximately 3.5 million soda makers for the year. Notably, U.S. sell-through of soda makers and consumables exceeded expectations, continuing our growth trajectory in the world's biggest soda market. We believe the growing strength of our brand equity driven by our new branding campaign, strategic partnerships and innovative product portfolio, including our newest soda maker, the Source, all set the stage for continued growth in 2013 and beyond."

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