3D Systems sees quarterly revenue growth as competitors fall behind

3D Systems Corporation (DDD) reported a revenue growth of 6% to $165.9 million during the first quarter of 2018 compared to the prior-year period, driven by the printers, healthcare and software businesses.

GAAP net loss for the quarter was $20.9 million or $0.19 per share while the adjusted net loss was $3.4 million or $0.03 per share. Revenue numbers beat analyst expectations while adjusted EPS missed estimates.

Printer revenue grew 24% while printer unit sales rose 44%. The company saw growth in software, on-demand manufacturing, and healthcare solutions.

3D Systems continues to make strategic investments in organizational and operational improvements and during the first quarter, the company put in place a cost optimization plan to drive efficiencies.

The company’s competitor Stratasys Ltd. also reported Q1 2018 results today with revenues of $153.8 million and GAAP net loss of $0.24 per share. Stratasys’ revenue dropped from last year mainly due to underperformance in North America related to high-end system orders.