DDD Prints Disappointing Results

3D Systems (NYSE: DDD) 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 targetThe 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.