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SodaStream Reports Q2 Revenue Gains, Income Decline

SodaStream International Ltd., today reported revenue for the second quarter of $141.2 million, a 6.6% gain over revenue of $132.4 million for the comparable year-earlier period. The company’s net income dropped to $9.2 million for the quarter, down from $12.9 million for the second quarter of 2013.

“The second quarter was highlighted by record gas refills including unit growth in all regions underscoring the global appeal and stickiness of our home carbonation system. Our total business in our Western Europe, Asia Pacific, and CEMEA regions all posted solid increases in the second quarter as our product and marketing strategies are leading to increased household penetration and user activity.” said Daniel Birnbaum, SodaStream CEO. “In the U.S., soda maker volumes remained under pressure as we struggled to drive consumer demand and retailers worked through excess inventory carried over from the holiday season. We are lowering our U.S. soda maker sales projections for the back half of the year while we reposition our brand behind health & wellness and refine our product line and marketing message to better promote this important consumer benefit. We are confident this strategy will have a positive long-term impact on our U.S. performance. Our revised plan for 2014 also includes operating expense reductions aimed at protecting profitability until growth trends improve.”