SodaStream reported its first-quarter earnings before the market opened today. For the three-month period ended March 31, SodaStream posted a profit of $0.08 per diluted share, which was down from earnings per share of $0.57 during the same period a year ago. Despite this significant year-over-year drop in earnings, its $0.08 in the latest quarter was better than the $0.01 profit analysts were expecting.
The company said "strong growth" outside the U.S. offset weakness in the U.S. from a "challenging holiday season."
Revenue came in at $118.2 million in the quarter, up from $117.6 million in the year-ago period. Wall Street was looking for revenue of $117.9 million. Unfortunately, beating analysts' estimates on both the top and bottom lines wasn't enough to save the stock from falling more than 3% in pre-market trading on Wednesday. However, as of 9:45 a.m., the stock was up a bit from yesterday's closing price.
Investors may have been eyeing SodaStream's 28% sales decline in the Americas. In this region, SodaStream generated $34.8 million during the first quarter of fiscal 2014, down from $48.3 million a year ago. Revenue in other regions notched double-digit percentage increases.
Nevertheless, SodaStream's chief executive, Daniel Birnbaum, is optimistic about the company's future, saying in the company press release that, "We are confident that our long history leading the evolution of home carbonation continues to provide us with strong competitive advantages and compelling growth opportunities across the globe."
The article SodaStream's U.S. Sales Take a Hit in Q1 originally appeared on Fool.com.Tamara Rutter has no position in any stocks mentioned. The Motley Fool recommends SodaStream. The Motley Fool owns shares of SodaStream. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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