Stratasys, Ltd. (NASDAQ:SSYS) stock was down on Thursday on a poor outlook for 2017.
Stratasys, Ltd. says that it expects revenue for 2017 to be between $645 million and $680 million. This has its high revenue estimate for the year coming in below Wall Street’s revenue estimate of $693.67 million for 2017.
Stratasys, Ltd. also says that it expects earnings per share for the full year of 2017 to range from 19 cents to 37 cents. This also falls below analysts’ estimate for the year, which is sitting at 49 cents. The 3D printing company is also expecting net income for the year to be between $10 million and $20 million.
“As we move into 2017, we continue to invest in achieving our long-term goals,” Ilan Levin, CEO of Stratasys, Ltd., said in a statement. “As we extend our reach into use-case centric applications, we intend to continue to shift resources to build out our capabilities around high-value added applications.”
Stratasys, Ltd.’s outlook for 2017 came along with its earnings report for the fourth quarter of 2016. The earnings report was positive with the company reporting revenue of $175.3 million for the quarter. This was up from the same time last year and also beat out Wall Street’s revenue estimate of $169.45 million for the quarter.
Stratasys, Ltd. also reported earnings per share of 15 cents for the fourth quarter of the year. This is an improvement over its losses per share of one penny during the same quarter of the year prior. It also came in above analysts’ earnings per share estimate of a nickel for the period.
Stratasys, Ltd. is the maker of the Infinite Build 3D printer. This printer is currently being tested out by Ford Motor Company (NYSE:F). Ford says the printer has possibilities for making low-volume parts that weigh much less than those created through normal manufacturing processes.
SSYS stock was down 7% as of Thursday morning.