by Christopher Freeburn | February 25, 2013 9:59 am
Shares of 3D Systems (NYSE:DDD) plunged more than 15% in Monday morning trading after the company disclosed weaker-than-expected fourth-quarter sales.
The manufacturer of three-dimensional printer equipment posted quarterly earnings of $10.9 million, up from $8 million in the same period during the prior year. Adjusted EPS came to 39 cents. That topped the 26 cents a share that Wall Street had expected, Reuters noted.
Though fourth-quarter revenue rose 45% over the previous year, hitting $101.6 million, that fell short of the $103.9 million that analysts had forecast.
The company had previously announced a three-for-two stock split, which became effective on Friday.
3D Systems’ customers include Ford (NYSE:F), Hasbro (NASDAQ:HAS) and Northrop Grumman (NYSE:NOC), among other major manufacturers across diverse sectors.
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