Mar 14, 2016 | By Kira
Just eleven days after Stratasys surprised Wall Street with its higher-than-expected fourth quarter and full year 2015 financial report, 3D Systems (DDD) has come to steal the thunder. The California-based 3D printer manufacturer today released its belated Q4 and full year 2015 results, which revealed an unanticipated 2% increase in total revenues and caused shares to surge by as much as 15% in pre-market trading sessions today.
In the fourth quarter, 3D Systems’ revenue actually decreased by roughly 2.2% compared to the same period in 2014. However, the $184.3 million in revenue was still $17 million more than consensus estimates had originally predicted. The company also reported a GAAP loss of $5.32 per share ($595.4 million net) and non-GAAP earnings of $0.19 per share within the quarter.
The end of 2015 was indeed an interesting time for the company, which saw CEO Avi Reichental step down, share prices drop to just $9.29, and later, the $999 Cube 3D printer discontinued for good. Indeed, the company attributes a $27.4 million charge to inventory and purchase commitments related to the end-of-life of the Cube 3D printer and a shift away from consumer products in general.
However, looking at the full year 2015 financial results, 3D Systems’ managed to grow its overall revenue by 2% to $666.2 million, with earnings per share (EPS) of $0.27. Again, these numbers trumped analyst’s expectations, which predicted EPS of just $0.11 and total revenues of $646.55 million.
“While market conditions remain challenging and uncertain, timing of healthcare and other industrial orders as well as contributions from acquisitions supported revenue during the quarter,” said Andrew Johnson, Interim President, Chief Executive Office Officer and Chief Legal Officer of 3D Systems.
Unlike Stratasys, 3D Systems did not provide any formal guidance, however the 3D printer manufacturer remains confident in its current strategy: “We believe that by leveraging our domain expertise, partner and customer relationships and advanced technology we are well positioned to capitalize on meaningful opportunities in key verticals,” said Johnson. “We are continuing an extensive and comprehensive review of our business and strategy and taking steps to better prioritize our resources and focus our investments.”
So far this year, 3D Systems has introduced the ProX DMP 320 direct metal 3D printer, which can print chemically-pure titanium, stainless steel, and nickel super alloy parts. It has also opened a state-of-the-art Healthcare Technology center to showcase and develop its medical 3D printing solutions. Both are clear signs that 3D Systems is committing itself more fully to the industrial and commercial 3D printer markets where growth is undeniably apparent.
3D Systems' ProX DMP 320 metal 3D printer
Though the 3D printing market seems to have suffered loss after loss in 2015, both Stratasys and 3D Systems’ recent financial reports indicate a more hopeful, if not downright optimistic outlook for the year to come. Indeed, today’s higher-than-expected results were good news for the industry all around: while 3D Systems’ shares jumped up 15%, shares of other 3D printing companies, including Stratasys and ExOne also rose by more than 2%.
Posted in 3D Printer Company
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Alex wrote at 3/15/2016 3:16:22 PM:
3DSYSTEMS is based in Rock Hill, South Carolina.
Tim wrote at 3/14/2016 6:41:00 PM: