NEW YORK (
) -- Shares of
rose in extended trading on Monday after the Israeli provider of home beverage carbonation systems posted a plus-50% jump in quarterly earnings in its first-ever report as a public company.
The company said its adjusted earnings totaled 3.9 million euros, or 31 euro cents per share, for the three months ended Sept. 30, up from a year-ago equivalent profit of 2.6 million euros, or 21 euro cents.
SodaStream's adjusted results exclude discontinued management fees related to the cancellation of a management fee agreement related to the company's initial public offering. Revenue jumped 52% year-over-year to 42 million euros in the latest quarter from 27.7 million euros in the same period a year earlier.
SodaStream said it sold 449,000 soda makers in the third quarter, up 57.4% from 285,000 in the same period a year ago. Its CO2 refills swelled to 2.6 million in the quarter from 2.1 million last year.
The stock was last quoted at $43.85, up 5.4%, on volume of around 125,000, according to
"We view the increased sales of soda makers -- the razor -- as a significant indication of SodaStream's long-term growth potential and the successful execution of our growth strategy to achieve higher household penetration," said Daniel Birnbaum, the company's CEO, in a statement. "Over time, this will lead to increased sales of our higher margin consumable products -- soda flavors, CO2 refills and carbonation bottles -- the razor blade."
The company also added that it plans to expand its marketing efforts headed into the holiday season in the United States in particular. SodaStream went public earlier this month, selling 5.4 million shares at $20 each.
Written by Michael Baron in New York.
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