SodaStream shares are down by over 20% this morning after the home carbonator maker reported disappointing year-end figures.
The Israeli firm said net income came in at $US52.5 million, down from a previous estimate of $US65 million, and fiscal year 2013 revenues of $US562 million, down from a forecast of $US567 million.
“Despite achieving all-time record sales, we failed to deliver our profit targets and are disappointed in our fourth quarter performance… These preliminary results reflect a challenging holiday selling season in the U.S. and several factors, mostly from the second half of the quarter that negatively impacted our gross margin,” Daniel Birnbaum, Chief Executive Officer of SodaStream, said in a statement.
The company recently announced Scarlett Johansson as its first global brand ambassador.
At $US39.70, the stock is down 49% from its 52-week high of $US77.80.
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