3D Systems Corporation Falls On Weak Q1 Revenue

3D Systems Corporation Falls On Weak Q1 Revenue

3D Systems shares fell 1.28% to $23.90 in pre-market trading Wednesday after the company released its fiscal first-quarter results. On April 24, the 3D printing firm had reported poor preliminary results, so the official figures did not come as a big surprise. 3D Systems said its revenue rose a modest 9% YoY to $160.7 million in March quarter.

3D Systems EPS edges part consensus estimate

That’s slightly higher than the company’s preliminary projections of $158-$160 million revenue. Before the preliminary results were announced on April 24, analysts were expecting $182.78 million in revenue. But they trimmed their estimates to $161.78 million in the past two weeks. It means 3D Systems’ Q1 revenue also missed the revised consensus estimate.

Charlie Munger’s Advice For Finding The Best Investments

Charlie MungerWhen it comes to finding future business champions, Warren Buffett and Charlie Munger have really excelled over the past seven decades. Q3 2021 hedge fund letters, conferences and more One could argue that these two individuals are some of the best growth investors of all time, thanks to their ability to spot companies like Coca-Cola Read More

The Rock Hill-based company said it incurred a GAAP net loss of $13.2 million or 12 cents a share. Non-GAAP earnings came in at $5.2 million or 5 cents a share, compared to the consensus estimate of 4 cents a share. 3D Systems had generated $147.76 million revenue and 15 cents in EPS in the same quarter a year ago.

3D Systems CEO Avi Reichental said that currency headwinds and lower oil prices hurt the company’s revenue. A steep decline in oil prices forced many automotive, healthcare and aerospace clients to delay their purchases. However, its gross margins improved sequentially to 49.1% during March quarter. 3D Systems ended the quarter with $200 million in cash, after paying $78 million for Cimatron acquisition.

3D Systems’ operating expenses jump 46%

The company said revenue from direct metal printers rose 39% YoY, while healthcare revenue jumped 38% from the comparable quarter a year ago. Services revenue went up 31%. But the biggest driver was consumer segment, where revenue rose 65% and the number of printers sold skyrocketed 169%. 3D Systems said revenue from the Americas rose 27% and Asia Pacific revenue was up 20% YoY. But its revenue from Europe, Middle-East and Africa increased only 2%.

Operating expenses increased 46% to $97 million, while R&D expenses shot up 29%. 3D Systems said it had withdrawn its previous full-year guidance due to “marketplace uncertainties,” but did not provide a new guidance.

Updated on

No posts to display