SodaStream International Ltd. (SODA), a manufacturer of home beverage carbonation systems, reported that its first-quarter net income increased about 19.5% to $12.1 million from $10.1 million in the first quarter 2012. Earnings per share increased 18.8% to $0.57, compared to $0.48 in the prior year.
Adjusted net income was $14.5 million up from$11.5 million last year. Adjusted earnings per share were $0.68 compared to $0.55 in the prior year quarter.
Total revenue increased 33.9% to $117.6 million from $87.9 million in the first quarter 2012.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.54 per share on revenues of $113.11 million for the quarter. Analysts' estimates typically exclude special items.
The company now expects full year 2013 net income on an Adjusted basis, which excludes share-based compensation expense, to increase approximately 27% over the Adjusted net income of $50.0 million reported in 2012, up from its previous guidance of 25%.
The Company expects full year 2013 net income to increase approximately 20% as compared with its net income of $43.9 million in 2012, up from its previous guidance of 18%.
The Company now expects full year 2013 revenue to increase approximately 27% over 2012 revenue of $436.3 million, up from its previous guidance of 25%.
The Company now expects full year 2013 Adjusted EBITDA to increase approximately 36% over 2012 Adjusted EBITDA of $61.1 million, up from its previous guidance of 34%.
Analysts expect the company to report earnings of $2.47 per share on revenues of $547.79 million for fiscal 2013.
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