SodaStream predicts 25% growth in 2013

2012 revenue rose 51% to $436.3 million and non-GAAP net profit rose to $50 million.

SodaStream International Ltd. (Nasdaq: SODA) predicts further strong growth in 2013 after reporting double-digit growth for the fourth quarter and full year of 2012.

Fourth quarter revenue rose 55% to $132.9 million from $85.7 million for the corresponding quarter of 2011. GAAP-based net profit rose 41.6% to $7.5 million ($0.36 per share) from $5.3 million for the corresponding quarter of 2011, and non-GAAP net profit rose to $9.4 million ($0.45 per share) from $6.7 million.

Full-year revenue rose 51% to $436.3 million from $289 million in 2011. GAAP-based net profit rose 60% to $43.9 million ($2.09 per share) in 2012 from $27.5 million in 2011, and non-GAAP net profit rose to $50 million ($1.34 per share) from $32.9 million ($2.39 per share).

SodaStream beat the analysts' consensus of $0.39 earnings per share on $121.5 million for the fourth quarter and $2.14 earnings per share on $424.9 million revenue for the year.

In its guidance, SodaStream predicts 25% revenue growth to $545 million in 2013. It forecasts 25% GAAP-based net profit growth to $62.5 million, and 18% non-GAAP net profit growth to $54.9 million.

"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," said SodaStream CEO Daniel Birnbaum.

"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."

SodaStream attributed its 47% inventory growth from $76.6 million at the end of 2011 to $112.7 million at the end of 2012 to acquisition of the company's Nordics and Canadian distributors and to its business growth.

Published by Globes [online], Israel business news - www.globes-online.com - on February 20, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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