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
Federal investigators have closed their probe of a fatal crash that involved a Tesla Motors Inc. car eight months ago. The regulators said they have found no safety defects in the vehicle's automated driving system and that Tesla's Autopilot-enabled vehicles did not need to be recalled. Consumer goods giant Procter & Gamble Co. on Friday reported a profit for the second quarter that more than doubled from last year on a one-time gain and higher margins, while sales edged lower. Both revenue and core earnings per share for the quarter beat analysts' estimates. General Electric Company (GE) reported that its fourth-quarter Industrial operating plus Verticals EPS, a non-GAAP measure, decreased to $0.46 from $0.52 last year. Industrial operating plus Verticals earnings excluding gains & restructuring was $0.50 compared to $0.47. On average, 17 analysts polled...
comments powered by Disqus
Follow RTT