3D Systems Issues Profit Warning, Shares Tumble
Shares of 3D Systems Corporation (NYSE: DDD) are sharply lower in Wednesday's pre-market trading after the company warned that it would miss third-quarter profit and sales forecasts due to production delays.
The company guided earnings per share of $0.16 to $0.19 versus previous estimates of $0.21 and revenues of $164 million to $169 million versus prior consensus of $186 million.
Avi Reichental, President and CEO, said "We are disappointed that we failed to fully capitalize on the robust demand for our direct metal and consumer products during the quarter." He also expects the revenue growth rate to increase.
Shares were trading at $39.35, down 9.3 percent.
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