3D printer maker Stratasys Inc. (Nasdaq: SSYS) predicts revenue and profit growth in 2014, after reporting record results for 2013.
Full-year revenue rose to $486.7 million from $359.1 million (pro forma) in 2012. GAAP-based net loss was $26.9 million in 2013, compared with a net profit of $8.5 million in 2012, and non-GAAP net profit rose to $82.1 million ($1.95) from $59.7 million.
Fourth quarter revenue rose 62% to $155.8 million from the $96.4 million pro forma revenue (as if the Stratasys-Objet merger had closed on January 1, 2012) for the corresponding quarter of 2013. GAAP-based net loss narrowed to $2 million ($0.04 per share) for the fourth quarter from $3.5 million for the corresponding quarter, and non-GAAP net profit rose to $25.8 million ($0.50 per share) from $16.3 million.
In its guidance, Stratasys predicts GAAP-based net profit of $10.5-$19.9 million ($0.20-0.38 per share) and non-GAAP net profit of $113-119 million ($2.15-2.25 per share) on $660-680 million revenue. It says that operating expenses will grow because of investments in R&D and in sales and marketing.
"Our fourth quarter results reflect the ongoing realization of revenue synergies from the Stratasys-Objet merger, as well as the rapidly growing demand for additive manufacturing and 3D printing solutions we are observing worldwide,” said Stratasys CEO David Reis. “We experienced strong organic growth driven by demand across multiple product lines, as well as an impressive contribution from MakerBot."
Published by Globes [online], Israel business news - www.globes-online.com - on March 3, 2014
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