DDD Prints Disappointing Results

3D Systems

reported after the close on Thursday, July 31. Second quarter Q2 EPS and revenues both came in below consensus estimates. Revenue for the quarter was $151.5M versus a consensus of $162.2M and organic growth for the quarter was only 10%. Earnings per share (Non GAAP) came in at 16 cents, 2 cents below the consensus 18 cent estimate by analysts. That marks a drop of 20% from the year-earlier quarter and the third quarter in a row of year-over-year declines. Analysts were split on their reaction to the earnings report, although targets were reduced across the board. • Goldman reduced target from $55 to $53, maintained Neutral • Brean reduced target from $75 to $58, Buy maintained • FBR Capital Markets downgraded to Market Perform target price reduced from $83 to $48 • Citigroup maintained a Buy rating and $60 price target The company raised its full-year revenue guidance $5 million from $695 million to $735 million to $700 million to $740 million Full-year guidance of $0.73–$0.85 EPS was reaffirmed. Shares of DDD were trading lower by nearly 2% pre-market at 49. The shares fell over 10% on Thursday.