3D printer maker Stratasys Inc. (Nasdaq: SSYS) today raised its guidance after reporting record revenue and profits for the third quarter of 2013. Revenue, including $11.4 million from MakerBot since August 15, rose 39% to $126.1 million for the third quarter from $90.9 million for the combined Stratasys and Objet pro forma revenue for the corresponding quarter of 2012. Organic growth, excluding MakerBot rose 26%.
GAAP-based net loss (including MakerBot) widened to $6.6 million ($0.16 per share) for the third quarter from $2.8 million for the corresponding quarter, and non-GAAP net profit (including MakerBot) rose to $20 million ($0.45 per share) from $16.6 million.
Cash, investments and bank deposits totaled $616.5 million at the end of the third quarter.
Stratasys raised its full-year revenue guidance to $470-490 million from $455-480 million but raised its GAAP loss per share estimate to $0.55-0.83 from $0.49-0.76. It forecasts non-GAAP earnings per share of $1.75-190.
"Organic revenue growth accelerated in the third quarter as synergies resulting from the merger between Stratasys and Objet continued to develop. We observed strong growth across multiple product lines that address an expanding range of applications,” said Stratasys CEO David Reis. With the completion of the MakerBot acquisition in the third quarter, we believe Stratasys is now the clear leader in the desktop 3D printer category, one of the fastest growing segments within our industry."
Reis concluded, “As we enter the fourth quarter, we believe the acceleration in our organic growth rate, combined with the positive impact from our recent acquisition of MakerBot, will contribute to a strong finish to the year. Looking beyond 2013, we are well positioned to sustain our positive momentum as we accelerate our rate of new product introductions, and prepare to capitalize on additional inorganic growth opportunities. In addition, our industry remains ripe for growth as new and innovative applications continue to emerge for our technology. We are very excited about the future."
Published by Globes [online], Israel business news - www.globes-online.com - on November 7, 2013
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