3D Systems Corporation Stock Falls on Loss Following Year-Ago Profit

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3D Systems Corporation (NYSE:DDD) reported its latest quarterly earnings results after the bell Wednesday, which were below its year-ago totals.

3D Systems CorporationThe company unveiled adjusted earnings at a loss of 3 cents per share, which was below the profit of six cents per share it brought in during the year-ago period. Analysts were calling for adjusted earnings of a penny per share for the company’s first quarter of fiscal 2018.

3D Systems also brought in revenue of $165.9 million for the period, which was stronger than the company’s revenue of $156.4 million from the year-ago first quarter. The Wall Street consensus estimate called for quarterly revenue of $159.6 million.

CEO Vyomesh Joshi said in a statement that the company’s revenue growth was attributed to growing printer sales, on-demand manufacturing, health care and software. 3D Systems brought in printer revenue that was 24% higher than the year-ago period, while its printer unit sales increased by 44%.

The company’s GAAP gross profit margin was 46.9% — down by 4.4 percentage points year-over-year — while its operating expenses were up by $6.1 million to $95.4 million. Its SG&A expenses gained 5% year-over-year to $69.5 million, R&D expenses gained 13% to $25.9 million and 3D Systems’ cash and equivalents at the end of the quarter were $121.6 million.

“While we still have work to do, we believe our investments in go-to-market, process improvements and better execution worldwide are starting to show returns,” the Joshi said.

DDD stock fell about 2.3% after the bell Wednesday.


Article printed from InvestorPlace Media, https://investorplace.com/2018/05/3d-systems-corporation-ddd-4/.

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