SodaStream Sees 28.5 Percent Revenue Increase For Second Quarter 2013

SodaStream International Ltd. announced its results for the three and six month periods ended June 30, 2013. For the second quarter ended June 30, 2013, revenue increased 28.5 percent to $132.4 million from $103.0 million in the second quarter 2012. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 47.6 percent to $18.0 million from $12.2 million, and Adjusted EBITDA increased 53.9 percent to $21.0 million from $13.6 million in the second quarter 2012.

Net income increased 36.1 percent to $12.9 million compared to $9.5 million in the second quarter 2012, and Adjusted net income was $15.8 million compared to $10.9 million in the second quarter 2012.

Diluted earnings per share increased 33.3 percent to $0.60, compared to $0.45 in the second quarter 2012 and Adjusted diluted earnings per share were $0.74 compared to $0.52 in the second quarter 2012.

Daniel Birnbaum, chief executive officer of SodaStream, commented in a prepared statement, "Our business performed very well during the second quarter, with revenue up 29 percent year-over-year on top of very strong gains a year ago that were fueled by the launch at Wal-Mart. Importantly, operating income grew at a faster pace than revenue as we leveraged expenses to drive earnings per share ahead of expectations. With global first half unit sales of soda makers, gas refills and flavors up 18 percent, 30 percent, and 25 percent respectively, we are making great progress against our plan to grow our installed base and strengthen user loyalty. Our strong momentum in the Americas and Western Europe, combined with improving trends in Asia-Pacific, position us well to achieve our upwardly revised outlook for 2013."

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