Minneapolis- and Rehovot, Israel-based Stratasys posted losses of -$679,000, or -1¢ per share, on sales of $162.0 million for the three months ended Sept. 30, paring its losses by -93.3% on sales growth of 4.0% compared with Q3 2017.
Adjusted to exclude one-time items, earnings per share were 11¢, 6¢ ahead of Wall Street, where analysts were looking for sales of $161.6 million.
“We are pleased with our results this quarter, reflecting continued strength in our high-end systems orders, utilization rates and our parts services business,” interim CEO Elan Jaglom said in prepared remarks. “The level of engagement we are experiencing with customers in our key verticals is encouraging, as we highlighted at the recent International Manufacturing Technology Show. And we are excited about the innovation we plan to bring to market to drive incremental, long-term opportunities, as we continue to invest in new products and materials across our portfolio of FDM and PolyJet technologies, our new metal additive manufacturing platform, and advanced composite materials.”
Stratasys raised its full-year adjusted EPS guidance to 50¢ to 55¢ per share, up from 30¢ to 50¢ previously, and lowered the top end of its sales outlook to $670 million to $680 million, compared to prior guidance of $670 million to $700 million.
SSYS shares surged 19.5% to $22.78 today in mid-day trading.