by Christopher Freeburn | February 5, 2014 10:31 am
A lower earnings outlook from 3D Systems (DDD), sent other 3D Printing stocks tumbling in Wednesday morning trading.
DDD stock plunged more than 25% after DDD said that it anticipates full year 2013 non-GAAP earnings of between 83 cents and 87 cents per share. That was significantly below prior earnings guidance of between 93 cents and $1.03 per share, and disappointed analysts who had predicted non-GAAP earnings of 96 cents a share, StreetInsider notes.
The warning hit rival 3D printing stocks, sending ExOne (XONE) stock down more than 13% and Stratasys (SSYS) stock down more than 12% in morning trading.
DDD noted that fourth-quarter sales of its professional 3D printing equipment were higher than expected, while consumer and on-demand parts sales were weaker than forecast.
For 2014, DDD said that non-GAAP earnings were expected to fall between 73 cents and 85 cents per share, well below the earnings of $1.27 a share estimated by analysts.
Last month, DDD stock fell sharply after Citron Research released a report warning that DDD would miss earnings estimates in its upcoming quarterly results. XONE stock and SSYS stock were also dragged lower by that report.
DDD recently announced a partnership with Hershey (HSY) to develop 3D printing technology to produce candy.
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