3D Systems Up 7% After Beating Earnings Estimates

Shares of 3D Systems

are up 7% after the company beat earnings estimates. The company announced non-GAAP adjusted earnings of 27 cents per share for the fourth quarter of 2011 and GAAP earnings of 16 cents per share. Revenue increased 35% to $69.9 million for the fourth quarter of 2011 and 44% to $230.4 million for the full year. Printer units grew 190% for the quarter and 242% for the year resulting in record printer revenue and units shipped. "We are very pleased with our continued strong performance and record quarterly and annual results," said Abe Reichental, 3D Systems' President and Chief Executive Officer. "We are thrilled that our print materials revenue topped $20 million for the quarter and $70 million for the full year on tripling printer units that we sold to manufacturers and consumers alike, underscoring the power of our recurring revenue engine and the value of our differentiated approach."