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Working through a restructuring in a tough market, 3D printer maker 3D Systems ( DDD ) is scheduled to report fourth-quarter earnings before the market open Monday. The report follows that of rival Stratasys ( SSYS ), which on March 3 reported a Q4 loss and big drop in revenue that nevertheless beat expectations on the top and bottom lines. Earnings are also coming from 3D printer maker ExOne ( XONE ), before the market open Wednesday. 3D printer companies, which generated widespread excitement a few years ago on the idea that their products represented an innovative leap in manufacturing processes, have been hammered. Shares of Stratasys and 3D Systems, the two industry leaders, have been crushed since mid-2014, as both have posted disappointing quarterly earnings reports going back more than a year. But 3D printer stocks have rebounded in the past month-plus. 3D Systems stock closed Friday at 11.55, up more than 1%, after hitting its all-time low of 6 on Jan. 20. Stratasys closed at 24.19, up 3%. It hit an all-time low of 14.88 on Jan. 26. ExOne rose 5% to close at 10.93. It hit an all-time low of 6.61 on Jan. 20. 3D Systems expects to report Q4 revenue of about $183 million, down 2% year over year. The consensus analyst estimate is $166.4 million among analysts polled by Thomson Reuters. The consensus on earnings per share minus items is three cents, down 86%. It would be the fourth quarter in a row of EPS deceleration. “Industry conditions remain challenging, and demand may be uneven in the coming periods,” Andy Johnson, the company’s interim CEO and chief legal officer, said in a company statement on Feb. 25. “However, we are confident about the long-term opportunities for our technology and solutions.” 3D Systems was originally scheduled to report Q4 earnings on Feb. 29. The company delayed its report to give it more time to complete work on non-cash goodwill and intangible-asset impairment charges. These accounting changes aim to reflect a more realistic balance between the worth of company assets and their financial value. They also relate to the value placed on intangibles such as brand name recognition and reputation. 3D Systems expects these charges to be $510 million to $570 million but does not expect them to impact cash flow. 3D Systems had a dismal third quarter , as revenue fell 9%, its first year-over-year decline in more than 18 quarters. 3D Systems and Stratasys have made forays into the consumer market without much success. In December, 3D Systems announced that it would end production of its $999 Cubify printer, three years after entering the consumer field. Stratasys entered that market in July 2013 with its $403 million acquisition of MakerBot. It began reorganizing the unit in July and also lowered the book value of MakerBot. Scalper1 News
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