SodaStream (SODA) Posts Q1 adj.-EPS of 40c

SodaStream (NASDAQ: SODA) reported Q1 EPS of $0.40, $0.37 better than the analyst estimate of $0.03. Revenue for the quarter came in at $104.8 million versus the consensus estimate of $100.94 million.

Q115 GAAP EPS was $0.08.

"The implementation of the restructuring and growth plan we announced in October 2014 is progressing as planned. The first quarter marked the start of a transitional period as we embarked on our global brand and product repositioning around health & wellness," said Daniel Birnbaum, Chief Executive Officer of SodaStream. "We've made good progress preparing for the launch of a completely new portfolio of great tasting, better for you sparkling water flavors later this year that we believe will resonate strongly with our consumer audience. At the same time, the transformation of our manufacturing base and operating structure is creating a more efficient organization. We are accelerating the consolidation of our production activities into our new state-of-the-art plant in Lehavim. During April, we shut down our Alon Tavor facility and commenced plastic injection in Lehavim. Last week we completed the transfer of our last assembly lines from Mishor Adumim to Lehavim and we no longer produce sparkling water makers in Mishor Adumin. We will complete the transition of equipment and exit Mishor Adumim entirely during the third quarter, ahead of schedule. As our restructuring and growth plan unfolds and gains traction, and we move past the challenging foreign currency exchange rate changes, we believe SodaStream will be well positioned to drive sustainable sales gains and greater earnings power in the years ahead."

Adjusted EBITDA was $7.6 million compared to $6.5 million in the first quarter 2014

For earnings history and earnings-related data on SodaStream (SODA) click here.

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