SodaStream Q3 Revenue Disappoints, Stock Falls

SodaStream International Ltd (NASDAQ: SODA) announced Wednesday its results for the three-month period ended September 30, 2014.

According to the press release, revenue was $125.9 million, below estimates of $131.74 million and below the $144.6 million reported in the third quarter 2013.

Diluted earnings per share were $0.45, above the average estimate of $0.39 and below the $0.76 reported in the third quarter 2013.

EBITDA was $15.7 million compared to $21.9 million in the third quarter 2013 and net income was $9.5 million compared to $16.4 million in the third quarter 2013.

"As we previously announced, our third quarter performance was pressured by challenging selling conditions for soda makers and flavors primarily in the U.S.," said Daniel Birnbaum, Chief Executive Officer of SodaStream.

Birnbaum noted that “we are introducing a comprehensive growth plan that will serve as our blueprint for returning SodaStream to profitable growth. We are fully committed to getting the company back on track and leverage the unique opportunity we have to fulfill our role in the transformation underway in the beverage industry."

SodaStream International Ltd traded at $21.15 in the premarket, down 3.51 percent.