3D printer manufacturer Stratasys reported its first-quarter 2013 results before markets opened yesterday with an increase in revenue from $44.96 million to $97.21 million compared to Q1 2012.
Adjusted diluted earnings per share (EPS) were $0.43 compared to $0.32 in Q1 2012, which compared to the Thomson Reuters estimates for EPS of $0.38 and $98.07 million in revenue.
“Strong sales of our higher-margin products help drive a significant increase in non-GAAP gross margin, and a 40% increase in non-GAAP net income in the first quarter over last year. We are pleased with our strong start to 2013.”, said David Reis, the company’s chief executive officer.
However, on a general accepted accounting principles (GAAP) basis, Stratasys poster a quarterly net EPS loss of $0.40, compared to a GAAP net loss of $0.23 in Q1 last year. The company;s guidance for the full 2013 financial year predict an adjusted EPS of $1.80 to $1.95 on revenues of $430 million to $445 million, with a GAAP EPS loss of $0.16 to $0.41.
The company is still dealing with some fiscal issues relating to the company’s merger with Objet Ltd in 2012 and “expects to record significant one-time integration expenses as a result of infrastructure alignment and brand unification”.
Stratasys’s Q1 fiscal results have led 247wallst.com to opine that this indicates that the hype surround the 3D printing industry is starting to wane and that the “big-players” in the market are feeling the effects of this downturn (well, at least the stock markets are). However, they note that in the past 12 months Stratasys stock is up nearly 600% and 3D systems have grown by 56% (with a reported massive increase in the number of printers sold).
Shares in Stratasys (NASDAQ:SSYS)were down almost 3% in early trading after the Q1 announcement and closed at $85.34, but they rebounded today (Tuesday) and when the market closed they were at $90.27, an increase of 5.78%.