Categories Earnings, Technology

3D Systems stock gains as Q4 earnings beat amid strong printer sales

Shares of 3D Systems Corp. (DDD) moved up Thursday after the company reported higher earnings and revenues for the fourth quarter, supported by further strong growth in the demand for printers. Earnings also exceeded Wall Street’s prediction.

Adjusted profit rose to $0.10 per share from $0.05 per share in the fourth quarter of 2017. The improvement was spurred by a 2% growth in revenues to $180.7 million. Product revenue jumped 10.5% to $133.1 million, more than offsetting a 9% decline in services revenue. Driving the top-line growth, printer unit sales more than doubled during the quarter.

On a reported basis, net loss narrowed sharply to $4.14 million or $0.04 per share from $10.13 million or $0.08 per share a year earlier, helped mainly by a significant tax benefit. Contributing to the improvement in bottom-line performance, operating expenses dropped 2% to $89.6 million.

Contributing to the improvement in bottom-line performance, operating expenses dropped 2% to $89.6 million

“Our improved operational foundation, execution and unmatched portfolio focused on production solutions, position the company very well to drive continued and increasingly profitable growth in 2019 and beyond,” said CEO Vyomesh Joshi.

During the quarter, the management made significant investments in new product development and IT infrastructure. The cost optimization measures initiated in the early part of 2018 started yielding results in the second half.

Also read: HP stock plunges on muted Q1 results

There are multiple product launches in the cards this year and going forward the focus will be on investments in materials innovations and software growth opportunities. Also, the cost-cutting program will continue in the coming months, with the goal of better cash generation.

Shares of 3D Systems gained 35% since the beginning of 2019 and 23% in the past twelve months. The stock closed Thursday’s regular session lower but gained more than 3% in the after-hours.

 

Earnings Calendar: Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

McCormick (MKC) expects pricing to drive sales growth for the full year of 2022

Shares of McCormick & Co. Inc. (NYSE: MKC) were up on Thursday after the company beat sales estimates for the third quarter of 2022. Adjusted earnings, however, decreased from the

STZ Infographic: Highlights of Constellation Brands’ Q2 2023 earnings results

Constellation Brands, Inc. (NYSE: STZ) announced second-quarter 2023 earnings results on Thursday, reporting a 12% increase in net sales. Comparable earnings, adjusted for one-off items, climbed 33% year-over-year to $3.17

Conagra Brands (CAG) Q1 earnings beat estimates on higher revenues

Packaged Foods company Conagra Brands Inc. (NYSE: CAG) on Thursday said its first-quarter profit increased supported by a 10% revenue growth. Earnings also came in above the consensus forecast. At $2.90

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top