Stratasys Reports Second Quarter Beat And Guidance Hike; 3D Sector Also Higher
Stratasys (NASDAQ: SSYS) reported its second quarter results Thursday morning, which provided a boost to the entire 3D printing sector.
Stratasys earned $0.55 per share, beating the consensus estimate of $0.45. Revenue of $178.46 million also topped analyst expectations of $156.61 million. Product revenue rose 70 percent year over year to $154.1 million, services revenue rose 50 percent from a year ago to $24.4 million, while MakerBot sales rose 63 percent from last quarter to $17.6 million.
During the quarter, Stratasys generated $4.8 million in cash from operations and currently holds $577.9 million in cash and equivalents, amounting to $11.70 per share.
Stratasys announced that it expects fiscal 2014 revenue to be in a range of $750 million to $770 million from a previous guidance of $660 million to $680 million. The company also raised its organic revenue growth forecast for 2014 to at least 30 percent, versus a previous guidance of at least 25 percent.
Long term, Stratasys is aiming for at least 25 percent of its annual growth to be organic, up from a prior guidance of at least 20 percent.
Shares of Stratasys were trading recently at $115.44, up 16.7 percent.
When 3D Systems reported its second quarter results on July 31 -- highlighted by a 24 percent drop in consumer revenue from the previous quarter -- shares of Stratasys, ExOne and Voxeljet all traded lower in sympathy.
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