ExOne Q1 Miss May Be Due to Timing

Shares of The ExOne Company

are trading down as much as 15 percent today after reporting a Q1 revenue miss of ~$2.4 million, as well as making a cut to the year's gross margin guidance. BB&T analyst Holden Lewis says, "headline is far worse than the reality". Additionally, Lewis noted that ExOne's reiteration of year revenue guidance suggests the miss was due to the timing of orders, which he says wouldn't be unusual due to the company's small revenue base and given the "big ticket" nature of ExOne's products.