Stratasys (NASDAQ: SSYS) a leading manufacturer of 3D printers, on Wednesday, reported 4% slip in second-quarter revenues to $163.2 million, lower than the Wall Street projection of $168.7 million. The revenues were hurt by the economic weakness in Europe, impacting general spending in the automotive and industrial machinery markets.
Net income was 16 cents per share, compared to 15 cents per share it reported in the year-over period. The Q2 EPS was a cent higher than the analysts’ estimate.
Interim CEO Elan Jaglom said, “We believe that we are well positioned to return to growth in Europe when macro conditions improve, and our new products and platforms are launched and adopted in the market.”
The Israeli company ended its last trading session down 0.32% on Tuesday. SSYS shares have gained 51.8% in the year-to-date period and 46% in the trailing 12 months.
Outlook
For fiscal 2019, the company expects revenues of $670 to $700 million. Guidance on GAAP net loss for this period was lowered to 5-31 cents per share, from the earlier guidance of 22-40 cents per share.
Excluding one-off items, net income for the full year is projected to hit 55-70 cents per share.
Rival 3D Systems (NYSE: DDD) is scheduled to report second-quarter financial results on August 7.
Most Popular
StubHub Holdings set to enter public markets. Here’s what to expect
After a modest start to the year, the IPO market is witnessing an increase in activity led by technology and healthcare companies. StubHub Holdings, a leading online ticket marketplace for
Can Beyond Meat (BYND) overcome its persistent challenges?
Shares of Beyond Meat, Inc. (NASDAQ: BYND) stayed red on Tuesday. The stock has dropped 19% over the past three months. The plant-based meat company continues to struggle in terms
CarMax (KMX) likely to report strong earnings growth for Q4 2025
After reporting robust earnings growth for the third quarter, CarMax, Inc. (NYSE: KMX) is preparing to publish Q4 results next week. Over the years, the company has fostered customer loyalty
