SodaStream shares lose fizz after profit warning

SodaStream International, the Israeli at-home soda machine maker said to be looking for a buyer, estimated third-quarter revenue below market expectations, raising fears that weak results could put off potential suitors.

The company’s US-listed shares fell as much as 22 per cent yesterday to $21.61, the lowest since the stock’s debut in November 2010.

Sales of the company’s soda machines have remained weak in the US as consumers opt for healthier drinks such as juices and teas over sodas.

Bloomberg reported in July that SodaStream was in talks with an investment firm to be taken private in a deal valuing the company at $828 million.

The company estimated operating income of about $8.5 million, less than half the $18 million it had posted a year earlier. – (Reuters)