Geo Week News

May 13, 2013

3D printer maker posts record Q1 earnings, sales


Stratasys says portfolio of 130 3D printing materials is industry’s widest since June 2012

3D printer manufacturer Stratasys Ltd. on Monday reported record first quarter earnings of $17.6 million, or $0.43 a share, a 40 percent increase over pro forma results last year, on sales of $98.2 million, up 18 percent.

The Minneapolis, Minn.-based company’s results beat analysts’ expectations on earnings per share by $0.06 and non-GAAP revenue also beat estimates – the tenth time in the past 11 quarters.

Stratasys manufactures 3D printers and materials for prototyping and production. Its patented FDM and PolyJet processes produce prototypes and manufactured goods directly from 3D CAD files or other 3D content.

The company said its line of over 130 3D printing materials has been the widest in the industry since June 2012 and includes more than 120 proprietary inkjet-based photopolymer materials and 10 proprietary FDM-based thermoplastic materials.

“Our record first quarter results reflect a continuation of the strong worldwide demand we are observing for our innovative products and services,” said CEO David Reis. “Strong sales of our higher-margin products help drive a significant increase in non-GAAP gross margin.”

Non-GAAP gross margins improved to 59 percent for the first quarter from a pro forma non-GAAP 56.7 percent in the first quarter last year.

Stratasys said it invested a net amount of $10.8 million in R&D expense during the first quarter, representing 11 percent of sales. On a combined basis, the company has shipped a cumulative 30,984 systems worldwide as of March 31.

Stratasys Ltd. (NASDAQ: SSYS) was formed in 2012 by the merger of 3D printing companies Stratasys Inc. and Objet Ltd., based in Minneapolis, Minn. and Rehovot, Israel.

“Our plan to integrate the combined sales and marketing organization that resulted from our game-changing merger is ahead of schedule,” said Reis.

The company has a global network of more than 260 resellers and independent sales agents that sell Stratasys products and services worldwide.

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