3D Systems
3D Systems Corp.'s (DDD) third quarter profit popped 87% as the
company saw double-digit sales growth, led by strong printer unit
demand.
Shares surged 10% to $39.50 as revenue comfortably beat Wall Street estimates.
3D raised its view for the year, now expecting its revenue between
$345 million to $365 million and adjusted per-share earnings between
$1.20 to $1.30, up from its prior view of revenue between $330 million
to $360 million and adjusted earnings between $1 to $1.25 a share.
"We are very pleased to report another outstanding quarter driven by
doubling printer units sales," Chief Executive Abe Reichental said. He
noted Cube 3D printer orders continue to exceed the company's
expectations, and are now available for next day shipment. "While we
still don't expect revenue from our consumer growth initiative to be
material to our revenue for the remainder of 2012, we are very pleased
with the overall reception," he added.
For the quarter, 3D reported a profit of $13.5 million, or 24 cents a
share, versus $7.2 million, or 14 cents a share, a year earlier.
Stripping out one-time items, the per-share profit was up at 32 cents
from 18 cents a year ago. Revenue rose 57% to $90.5 million.
Analysts polled by Thomson Reuters expected per-share earnings of 32 cents on revenue of $98 million.
Gross margin widened to 51.8% from 48.3%.
The company reported growth from all its revenue categories, led by
printer revenue on a 123% increase in printer units sold, excluding Cube
printer units.
The company said its 3D printer units sold more than doubled from the
year-ago period, accounting for a $19.3 million revenue increase. Print
materials revenue grew 38% to $25.5 million, driven by strong sales of
printer units.
"Never mind the computer on every desktop, that’s a given. In the near
future, teachers and students will want or have a 3D printer on the
desk to help them learn core Science, Technology, Engineering and
Mathematics (STEM) principles.
In a grand but practical vision sees a 3D printer on every school desk in America."
Geomagic- By Tom Kurke, COO - October 11, 2012
"In the future, design professionals, students and children will be able
to easily take innovation and inspiration from the real articles and
objects that surround them, mash them up, and create entirely new
designs along with a new creation and innovation cycle. What is needed
is a simple-to-use, integrated end-to-end solution that allows people to
easily capture, interact with, modify, manipulate and reproduce
real-world 3D content. I believe we are not too far away. "
