logo
Share SHARE
FONT-SIZE Plus   Neg

3D Systems Profit Up, Shares Down On Revenue Miss

3D Systems Corp. (DDD) Monday reported an increase in profit for the fourth quarter, as revenues surged 45 percent and margins strengthened. However, revenues for the quarter fell short of analysts' estimates, while earnings came in ahead of expectations. 3D Systems stock is currently trading down eight percent on the New York Stock Exchange.

The Rock Hill, South Carolina-based maker of 3D printers said revenues for the quarter grew 45.4 percent to $101.6 million from $69.9 million, but fell short of analysts' consensus of $103.86 million. Revenue growth was driven mainly by a 93 percent surge in printers' and other products and 18.8 percent organic growth.

Gross margin advanced to 51.7 percent from 47.1 percent last year, while operating margin rose to 24 percent from 23 percent.

"We are very pleased to report outstanding quarterly and annual results on accelerated printers' sales," said Avi Reichental, 3D Systems' President and Chief Executive Officer.

Net income for the fourth quarter was $10.9 million or $0.19 per share, up from $8.0 million or $0.16 per share last year. 3D Systems' adjusted profit for the three-month period was $22.6 million or $0.39 per share. On average, seven analysts polled by Thomson Reuters expected earnings of $0.38 per share for the quarter.

Looking ahead to the fiscal year 2013, the company expects adjusted earnings of $1.00 to $1.15, on a post-split basis, and revenues of $440 million to $485 million. Analysts currently expect earnings of $1.58 per share on revenues of $442.2 million for the year.

"We are thrilled with the progress we are making on our consumer growth initiative and expect revenue from our consumer products to be meaningful to our revenue in the second half of 2013," said Reichental.

Earlier this month, the company had announced a three-for-two stock split for shareholders of record February 15. The stock split became effective February 22.

DDD is currently trading at $34.92, down $3.05 or 8.02%, on a volume of 10.1 million.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Computer and printer maker Hewlett-Packard Co. said Thursday after the markets closed that its second quarter profit fell 21% from last year, hurt by lower revenue and costs related to the planned separation of the company. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Accounting software maker Intuit reported a plunge in third-quarter profit, hurt by impairment charges, even as results topped Wall Street estimates, driven by growth in small business segment amid a strong tax season. Struggling teen-apparel retailer Aeropostale Inc. (ARO), Thursday said its first-quarter loss narrowed from a year ago, driven largely by stronger margins even as revenues continued to plunge dropped. Nevertheless, the company lost almost one-fifth of its market value in after-hours trade, with the...
comments powered by Disqus
RELATED NEWS
Trade DDD now with 
Follow RTT