3D printer maker Stratasys Inc. (Nasdaq: SSYS) has raised its full-year guidance after reporting revenue and profit growth for the third quarter of 2013. Revenue rose 20% to $106.7 million for the second quarter from the pro-forma revenue of $88.7 million for the corresponding quarter of 2012 (calculated as if the Stataysis-Objet merger had already taken place).
GAAP-based net loss narrowed to $2.8 million ($0.07 per share) for the second quarter from $6.9 million for the corresponding quarter, and non-GAAP net profit rose 32% to $18.6 million ($0.45 per share) from $14.1 million. The company beat the analysts' consensus of earnings per share of $0.44 on $105.5 million revenue).
Following the merger with MakerBot, Stratasys raised its full-year revenue guidance from $430-455 million to $445-480 million, but lowered its non-GAAP earnings per share guidance from $1.80-1.95 to $1.75-1.80. The analysts' consensus is earnings per share of $1.92 on $440.6 million revenue.
Stratasys invested $10.3 million in R&D during the second quarter. It shipped 32,245 systems worldwide through the end of June.
"We sustained positive momentum in the second quarter as global demand for our products and services remained strong,” said Statasys CEO David Reis. "With our critical Stratasys-Objet merger-integration activities nearly complete, we can now focus more intently on leveraging our combined sales and marketing organization to drive faster growth. Manufacturing applications remain one of the critical drivers of this growth, which was highlighted by the sizable order we received from a leading manufacturer for Fortus systems during the quarter. In addition, we are excited about our announced plan to merge with MakerBot, which we believe will accelerate our growth within the rapidly expanding segment for desktop 3D printers.”
Published by Globes [online], Israel business news - www.globes-online.com - on August 8, 2013
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