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3D Systems ( DDD ) reported better-than-expected fourth-quarter earnings Monday morning, as did rival Stratasys earlier in the month, sending both stocks up and suggesting hard times in the 3D printer market might be coming to a close. 3D Systems reported revenue of $183.4 million, in line with company estimates but well above Wall Street’s consensus estimate of $166.4 million. Revenue, though, fell 2% from the year-earlier quarter and marked the second quarter in a row of revenue deceleration, though Q4 was better than Q3’s 9% decline. The company reported earnings per share minus items of 19 cents, far above the consensus of 3 cents, as polled by Thomson Reuters. The company didn’t provide guidance. The results follow the Q4 earnings report from rival Stratasys ( SSYS ) this month, which also beat expectations , as did its guidance for 2016. Together, the results from the biggest 3D printer compaies suggest the field might finally be recovering from a rough couple of years. 3D printer maker ExOne ( XONE ) is scheduled to report earnings before the market open Wednesday. 3D Systems stock was up 27%, at an eight-month high above 14.50, in morning trading in the stock market today . Stratasys stock was up 7%, near 26. ExOne stock was up 6.5%, near 11.50. “While market conditions remain challenging and uncertain, timing of health care and industrial customer orders as well as contributions from acquisitions supported revenue during the quarter,” 3D Systems interim CEO Andrew Johnson said in the company’s earnings release. Scalper1 News
Scalper1 News