April 30, 2013
Reuters reports today that 3D printer maker 3D Systems Corp had a 31 percent jump in quarterly revenue as 3D Systems sold 81 percent more printers and gross margin expanded 250 basis points.
Shares in the company were up about 3 percent in premarket trading on Tuesday.
Net income fell to $5.9 million, or 6 cents per share, from $6.2 million, or 8 cents per share, a year earlier. Excluding items, the company earned 21 cents per share.
Analysts expected it to earn 21 cents per share on revenue of $101.6 million, according to Thomson Reuters I/B/E/S.
The rapid prototyping industry, enjoying strong demand, is capable of growing by more than 20 percent annually for the "foreseeable future," Piper Jaffray analyst Troy Jensen wrote in a pre-earnings note.
3D Systems has faced criticism ealier that short-seller Citron Research called the technology over-hyped and the company's stock overvalued in a February report.
3D Systems shares have risen 83.4 percent in the last year. They closed at $35.77 on the New York Stock Exchange on Monday.
Posted in 3D Printing Company
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