3D Systems Corporation (NYSE:DDD) stock jumped on Thursday following the release of its earnings report for the third quarter of 2016.
3D Systems Corporation reported earnings per share of 14 cents for the third quarter of 2016. This is an increase over its earnings per share of one penny from the third quarter of 2015. It also came in above the earnings per share of 9 cents that Wall Street was looking for.
Revenue reported by 3D Systems Corporation for the third quarter of 2016 was $156.4 million. Revenue reported by the company during the same time last year was $151.6 million. Analysts were expecting DDD to report revenue of $160.16 million in the third quarter of the year.
3D Systems Corporation notes that revenue for the third quarter of 2016 was up 3% from the third quarter of 2015. It attributes this to an increase in 3D printer and material sales. A high demand for its software also helped its revenue increase during the quarter.
3D Systems Corporation reported that it generated $7.2 million of cash from operations in the third quarter of 2016. By the end of the quarter, the 3D printing company had $179.4 million of cash on hand.
“Our focus is to drive operational excellence and build an appropriate cost structure, which will provide capacity to invest into quality, reliability and innovation,” John McMullen, Executive Vice President and CFO of 3D Systems Corporation, said in a statement. “We believe this will position us to drive profitable growth and continued positive cash generation.”
DDD stock was up 4% as of Thursday afternoon and 57% year-to-date.
