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ExOne ( XONE ) late Tuesday became the third 3D printer maker to report better-than-expected earnings for its most recent quarter, adding more hope for a turnaround in the beleaguered industry, even though 3D printer stocks fell Wednesday. After the market close Tuesday, ExOne reported Q4 revenue of $16.2 million, topping expectations of $14.7 million. Revenue rose 2.5% year over year, reversing three straight quarters of revenue deceleration. The company lost eight cents per share minus items, but that was seven cents better than the consensus estimate of analysts polled by Thomson Reuters. 3D Systems ( DDD ) and Stratasys ( SSYS ), the two largest providers of 3D printers, both also beat expectations with their Q4 earnings reports. ExOne stock initially rose as much as 7.5% in the stock market today , hitting an 11-month high near 14, but it closed Wednesday down 6.3%, at 12.12. That’s up from an all-time low of 6.61, touched on Jan. 20. Stratasys stock fell 8.6% Wednesday to 23.25, while 3D Systems fell 5.1% to 14.44. 3D Systems and Stratasys had soared over a two-year period that ended as 2013 came to a close. ExOne went public in February 2013 with shares priced at 18. The stock had traded above 70 in early January 2014, then headed downhill. All three gave back their gains starting in 2014 as the promise of 3D printing seemed to fade with disappointing quarterly earnings reports. 3D Systems stock hit its record low of 6 set on Jan. 20. Stratasys touched a record low of 14.88 set on Jan. 26. Some analysts continue to hold a cautious tone on 3D printing stocks. After Stratasys reported its Q4 earnings, Cowen analyst Robert Stone said that its visibility was still limited, though he raised his price target on the company to 23 from 19. 3D Systems, in its Q4 earnings release, said that industry conditions remain challenging. But Terry Wohlers, president of Wohlers Associates, which provides technical, market and strategic analysis on the 3D printer market, is upbeat. He says that corporations, governments and universities have embraced 3D printing technology. “If you look at the industry through the lens of investors and share price, that will give you a distorted view of what’s happening in the 3D printer market,” Wohlers told IBD. Scalper1 News
Scalper1 News