3D Systems Corporation (NYSE:DDD) released the results from its most recently completed quarter, posting non-GAAP earnings of 15 cents per share on $147.76 million in revenue, a 45% increase. Analysts had been expecting earnings of 15 cents per share on $147.76 million in revenue. GAAP earnings per share were 5 cents.
Breaking down 3D Systems’ results
The 3D printing company reported $28.8 million in backlog at the end of the quarter, including $17.9 million in printer orders. 3D Systems Corporation (NYSE:DDD) reported strong demand for its direct metal printers, which is still greater than the company’s capacity. Gross profits rose 41%, while gross margins fell 130 basis points to 51.1% year over year.
Revenue from 3D printers and other products rose 53% to $60.8 million, while revenue from print materials increased $41% to $40.4 million. Services revenue increased 38% to $46.6 million, while revenue from healthcare rose 53% to $21.7 million. Revenue from the company’s consumer products increased 150%, rising to $9.7 million.
3D Systems continues acquisition frenzy
Earlier this month, 3D Systems Corporation (NYSE:DDD) acquired medical device maker Medical Modeling. The company also signed an agreement to buy Latin American sales and service platform Robtec. 3D Systems also moved forward on its 3D printer platform and materials for Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG)’s Project Ara program and is now running Staples, Inc. (NASDAQ:SPLS)’s 3D printing experiences in Los Angeles and New York.
“We believe that 3D Printing is on the cusp of accelerated design and manufacturing adoption, and the ultimate measure of our success will be the value we create from our market share and scale gains over time,” said 3D Systems Corporation (NYSE:DDD) President and CEO Avi Reichental in a statement. “While our stepped up strategy and investments continue to pressure our quarterly earnings, we believe that our actions set the stage to substantially compress the time required to deliver greater value. Accordingly, we expect operating leverage to resume in the second half of 2015 and be fully restored the following year.”