3D Systems Reports Mixed Q3 Results, Reiterates Full Year Guidance

reported its third quarter results Monday morning. The 3D printer manufacturer earned $0.18 per share in the quarter, a penny better than analysts expected. Revenue grew 23 percent from a year ago to $166.90 million, but still fell short of the $167.71 million analysts expected. Shares were up 2.8 percent at $35.45 in the pre-market session. 3D Systems saw a strengthening demand for its products as the company's order book increased by $14 million to $46 million, which includes a $4 million increase in printer orders in hand compared to the second quarter order book. The company noted in its

that "strengthening demand for the company's leading design and manufacturing products was not enough to overcome the revenue shortfall that resulted from the company's manufacturing constraints for direct metal printers and the delayed availability of its newest consumer products." 3D Systems saw its organic growth rate slow to 12 percent for the quarter. The company's CEO Avi Reichental noted that the availability gaps have been “resolved” and the company expects its revenue growth rate to improve. 3D Systems reiterated prior guidance and expects its full year fiscal 2014 revenue to be in a range of $650 million to $690 million. The company expects its GAAP earnings per share to be $0.18 to $0.28 and non-GAAP earnings per share to be $0.70 to $0.80.