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Stratasys Earnings Beat Gives Lift To 3D Printer Market

Stratasys ( SSYS ) posted a first-quarter earnings beat before the market open Monday, sending its stock — and that of rival 3D Systems ( DDD ) — up in early trading. Sales guidance for the year also edged above views. Stratasys reported revenue of $167.9 million, beating the consensus estimate of $164.8 million by analysts polled by Thomson Reuters. That’s down 3% year over year but marks an improvement from the 20% year-over-year drop in the previous quarter. Earnings per share minus items of a penny fell from a 4-cent profit in Q1 2015 but still beat Wall Street expectations for a 4-cent loss. Stratasys beat on earnings during a difficult period for 3D printer companies. Competitor 3D Systems reported Q1 earnings Thursday that showed a third straight quarter of year-over-year declines in sales and missed Wall Street expectations. Stratasys stock was up 6%, above 22, in early trading on the stock market today . 3D Systems stock was up a fraction, near 13. Another 3D printer maker,  Voxeljet ( VJET ), was also up a fraction. Stratasys said it sold 5,125 3D printing and additive manufacturing systems during the quarter. “Although the overall market environment remains challenging, we made significant progress in improving our operating efficiency during the first quarter,” company CEO David Reis said in the earnings release. “We believe the recent refinements to our operating structure will make us more productive and better position us for future growth.” Stratasys guided 2016 revenue at $700 million to $730 million, with the midpoint slightly ahead of the analyst consensus estimate of $713 million. It projects EPS minus items of 17 cents to 43 cents, with the midpoint meeting views of 30 cents. For 2015, Stratasys posted EPS ex items of 19 cents on sales of $696 million.

Stratasys Earnings Will Shed Light On Wobbly 3D Printer Market

3D printer maker Stratasys ( SSYS ) is set to report earnings before the open Monday, after archrival  3D Systems ’ ( DDD ) report on Thursday showed continuing struggles for the sector. The consensus is that Stratasys will post Q1 revenue of $164.8 million, down 4.5% year over year and the third quarter in a row of declines. Analysts polled by Thomson Reuters expect a 4-cent per-share loss minus items, swinging from a 4-cent profit in Q1 2015, and marking the sixth quarter in a row of earnings deceleration. The Q1 earnings  by 3D Systems showed a 5% drop in revenue to $152.5 million, nearly $4 million short of views. It was the company’s fourth straight quarter of revenue deceleration. The company posted flat EPS ex items of 5 cents. Shares of 3D Systems and Stratasys were hammered in 2015, as both posted quarter after quarter of disappointing earnings and sales. Stratasys stock hit a six-year low of 14.88 three months ago and is up nearly 40% since then despite a six-day losing streak. Stratasys stock closed Friday at 21.06, down 1%. 3D Systems has doubled since hitting a five-year low of 6 three months ago, but the stock has also fallen for that last six trading days. 3D Systems fell 3.1% Friday, to 13.16. But despite the struggles of the two market leaders, the 3D printing industry is stronger than it seems, say industry analysts who track the field. Global 3D printer revenue rose 34% last year to $3.3 billion and shipments rose 68% to 133,000 units, according to estimates from research firm Canalys. And globally, 3D printing technology is being increasingly embraced by corporations, governments and universities. But the 3D printer companies await a new, potentially major, rival, as HP Inc. ( HPQ ) plans to enter the market this year.

3D Systems Earnings Show Ongoing Struggle In 3D Printer Market

3D Systems ( DDD ) missed with its Q1 revenue posted early Thursday, its third straight quarter of year-over-year declines in sales, as the 3D printer market resets expectations. Before the open, 3D Systems reported Q1 revenue of $152.5 million, down 5% year over year and missing the consensus of $156.3 million. Excluding the contribution of consumer products and services that the company no longer sells, revenue fell 2%. The company posted flat earnings per share minus items of 5 cents. 3D Systems stock was down nearly 6%, near 14, in afternoon trading in the stock market today , and it touched a seven-week low. Vyomesh Joshi, named CEO last month, sees big market opportunities ahead. “I’ve spent the past month listening to and learning from customers, partners and employees,” commented Joshi said. “I will be focusing on improving quality, reliability and supply chain. The next phase for us is to develop a strategy to drive profitable growth with operational excellence and an appropriate cost structure.” Joshi had been executive vice president of the imaging and printing business of HP Inc. ( HPQ ), formerly part of Hewlett-Packard before its split. HP plans to enter the 3D printer market this year. In the company’s earnings conference call, 3D Systems CFO David Styka said demand for professional 3D printers remained soft last quarter. Revenue from professional printers excluding desktop decreased 23%, on a 50% decline in unit sales. “The decrease in units was partially due to the availability gaps for new MultiJet Printers rolled out during the first quarter,” he said. CEO Joshi, on the call, repeated several times he was in a learning mode, but optimistic ahead. “The other important part that I am learning and that’s the vertical approach where we want to go after health care, aerospace, automobile, and also higher education,” he said, “because, if you think about the universities, we need to get a lot of people trained in understanding the 3D market.” 3D Systems did not give earnings guidance. It and and Stratasys ( SSYS ) are the two largest providers of 3D printers. Stratasys is set to report earnings before the market open Monday. Its shares were down nearly 3% Thursday afternoon. 3D printer makers ExOne ( XONE ) and Voxeljet ( VJET ) are set to report earnings on May 11 and May 13, respectively, both before the market open. Needham analyst James Ricchiuti last week lowered his rating on 3D Systems to hold from buy, “as shares might be pricing in too much,” he wrote. “Notwithstanding solid sequential improvement in Q4 from the publicly traded 3D printing companies, we believe business remains challenging, compounded by the normal seasonal weakness experienced in the March quarter,” Ricchiuti wrote.