Shares in Stratasys have fallen slightly today, even as the 3D printing and additive manufacturing company met expectations on Wall Street with its second quarter earnings results.
The Eden Prairie, Minn.–based company posted losses of $6.2 million, or 11¢ per share, on sales of $170 million for the 3 months ended June 30, seeing losses shrink 67% while sales shrunk 1.2% compared with the same period during the prior year.
Adjusted to exclude one-time items, earnings per share were 17¢, well above the 7¢ consensus on Wall Street where analysts were looking for sales of $167.7 million for the quarter.
“We continue to allocate resources towards deepening customer engagement within our key vertical markets, and we are pleased with our progress in developing higher quality revenue opportunities. In addition to these vertical market initiatives, we are pleased with the market reception of our new F123 Series, launched in February of 2017, which has resulted in orders of over 1,000 units to date, and has generated significant interest for rapid prototyping applications among professional users,” CEO Ilan Levin said in a prepared statement.
Stratasys reiterated its previous guidance for the year, expecting to post sales of between $645 million and $680 million, with non-GAAP diluted earnings per share of between 19¢ and 37¢.
“We have made significant progress in developing solutions that target high-value applications within our targeted markets, and we continue to focus on aligning our resources around this long term strategy. We believe this strategy will allow us to help grow the adoption of our products and services over time,” CEO Levin said in a press release.
Shares in Stratasys have fallen 0.1%, at $22.36 as of 1:02 p.m. EDT. Both the Dow Jones Industrial Average and S&P 500 indexes were slightly down for the day.
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