SodaStream beats by $0.13, reports revs in-line (18.89)
Reports Q4 (Dec) earnings of $0.35 per share, excluding restructuring an impairment charges (GAAP EPS -$0.39), $0.13 better than the Capital IQ Consensus Estimate of $0.22; revenues fell 24.7% year/year to $126.5 mln vs the $127.14 mln consensus.
- The decrease in revenue compared to the fourth quarter 2013 was mainly due to lower demand for sparkling water makers and flavors in the U.S. during the holidays, partially as a result of the elimination of discounting and promotional activities that took place in the same period in 2013, and also reflects an adverse foreign currency exchange rate impact of $7.6 million, primarily due to the weakening of the Euro/U.S. Dollar exchange rate by 7%.
- "As we announced, in conjunction with our growth plan, we have begun to reform our operational and organizational structure to better support our new strategy and drive improved efficiencies. While our actions will impact our near-term performance, we believe they will put us on stronger footing for delivering long-term profitable growth and increased shareholder value."
- SodaStream announces the launch of the SodaStream Power Sparkling Water Maker, its latest innovation, which enhances its Source with touch-button technology
- trimmed presence at WMT, M, SHLD as expected and is focusing on expansion of new product lines
- says it will still refrain from providing specific guidance (co did not provide guidance last quarter either)
- was asked about US profitability; co said less mix and more volume will drive profits; co says expects to return to growth in H2 2015 followed by profitability gains; sees FY15 gross margins in line with last year