Mar 1, 2018 | By Benedict
A double dose of big news from Stratasys, which has announced a new metal 3D printing technology alongside its full year 2017 financial results. Its revenue for 2017 was $668.4 million, compared to $672.5 million in 2016, which resulted in falling shares yesterday.
New Stratasys metal additive manufacturing platform
Stratasys is one of the most important companies in additive manufacturing, and any time it announces a new 3D printer, you have to take note—even when the news is bundled together with the company’s yearly financial results.
The company today revealed the development of a new metal 3D printing process that has been “developed internally over the past several years” and which incorporates Stratasys’ proprietary jetting technology.
Stratasys says the new metal 3D printing tech is designed provide the values of additive manufacturing for short-run production while overcoming material limitations of currently available metal additive manufacturing systems.
Target customers will include those looking to make pilot-series parts, small batches during product ramp up and end-of-life, and “customized, lightweight, and complex parts.”
The 3D printer will process commonly used powders, including aluminum, at an economically competitive cost-per-part and throughput.
“We are extremely excited to announce our development of this new additive manufacturing platform, targeting short-run production applications for a variety of industries, including automotive, aerospace, defense, machining, and metal foundries,” said Ilan Levin, CEO of Stratasys.
“We believe that this platform will meaningfully expand our addressable markets for the long term and provide our customers with an effective means to realize the values of additive manufacturing for powder metallurgy applications.”
More details on the new Stratasys metal 3D printing technology are set to be revealed at RAPID + TCT, April 23-26.
Stratasys posts Q4 and full year 2017 financial results
That’s the fun stuff, but perhaps the bigger news coming from Stratasys HQ is the company’s financial results for 2017, which were better than many predicted but still saw the company’s stock fall yesterday.
Q4 2017 results
Stratasys’ revenue for the fourth quarter of 2017 was $179.3 million, compared to $175.3 million for the same period last year. Its Non-GAAP net income for the quarter was $8.4 million, or $0.16 per diluted share, compared to a Non-GAAP net income of $7.8 million, or $0.15 per diluted share, reported for the same period last year.
That sounds fine, but under GAAP accounting standards things aren’t so rosy: Stratasys’ GAAP net loss for the quarter was $10.0 million, or ($0.19) per diluted share, compared to a loss of $14.8 million, or ($0.30) per diluted share, for the same period last year.
Full year 2017 results
For 2017 as a whole, Stratasys recorded revenues of $668.4 million compared to $672.5 million for fiscal 2016. That meant a Non-GAAP net income of $24.2 million, or $0.45 per diluted share, compared to a non-GAAP net income of $14.8 million, or $0.28 per diluted share, for 2016.
But in GAAP terms, Stratasys’ net loss for fiscal 2017 was $40 million, or ($0.75) per diluted share, compared to a loss of $77.2 million, or ($1.48) per diluted share, for fiscal 2016.
Levin said the “improved profitability and healthy cash generation in [Q4] demonstrates the success of our alignment of resources to support our strategic roadmap.”
Consequences
Despite performing better than many on Wall Street had expected, Stratasys’ financial results resulted in its shares falling 16.48 percent yesterday, largely because of its GAAP net loss and financial guidance for 2018.
Stratasys stated its 2018 revenue guidance at $670 to $700 million, with an expected GAAP net loss of $41 to $25 million, or ($0.75) to ($0.46) per diluted share.
Posted in 3D Printer Company
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