SodaStream fizzles after weakness in the U.S.

|About: SodaStream International (SODA)|By:, SA News Editor

SodaStream (SODA) reports a sharp drop in U.S. sales during Q1 after a "challenging" holiday set the stage for a drop in demand.

Sales of consumables rose 11% in Q1 to help offset a 10.8% falloff in revenue from soda maker starter kits.

Geographic growth: Americas -28% to $34.8M; Western Europe +17% to $62.5M; Asia-Pacific +28%; Central & Eastern Europe, Middle East, Africa +34% to $9M.

SodaStream's gross margin rate fell 220 bps to 52.3% due to the shift in product mix and F/X swings.

SODA -5.1% premarket