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Q3 sales surge 63% at 3D printer maker Stratasys
08
Nov '14
Driven by acquisition of Makerbot, NASDAQ-listed, Stratasys Ltd said its third quarter of 2014 revenues zoomed 63%, while organic sales surged 35%, both from a year earlier quarter.

Revenue for the third quarter of 2014 totalled $203.6 million, up 62% and also a rise of 35% on an organic basis, over non-GAAP revenue of $126.1 million, reported for the same period last year.

Revenue from MakerBot branded products and services increased by over 80% when compared to the pro forma revenue that MakerBot generated during the third quarter of 2013.

Non-GAAP net income rose to $30.1 million for the third quarter of 2014, or $0.58 per diluted share, against non-GAAP net income of $20.0 million, or $0.45 per diluted share, in the corresponding quarter of 2013.

Stratasys said third quarter of 2014, per share calculations relative to last year, were impacted by the issuance of approximately 5.2 million new ordinary shares in the September 2013 public offering.

Additionally, per share calculations were also impacted from the approximate 3.9 million new ordinary shares issued in consideration for the acquisition of MakerBot in August 2013.

Thirdly, Stratasys also issued approximately 1.2 million shares in connection with acquisitions of Solid Concepts and Harvest Technologies in July and August, 2014, respectively.

Stratasys said it sold 10,965 3D printing and additive manufacturing systems during the quarter, and on a combined pro forma basis, a cumulative 110,494 systems worldwide through September 30, 2014.

"Our organic revenue growth in the third quarter was an impressive 35%, as demand for our industry-leading products and services remained very strong," said David Reis, CEO at Stratasys.

"Sales of our higher-margin products remained a key growth driver during the third quarter, which had a positive impact on margins during the period,” he added.

During the third quarter, Stratasys closed the acquisitions of Solid Concepts and Harvest Technologies and also acquired GrabCAD, a leading cloud-based platform for 3D CAD.

Stratasys adjusted its financial guidance for fiscal 2014 to account for the recent acquisition of GrabCAD.

Now it expects non-GAAP net income guidance to be between $2.21 - $2.31 per diluted share; versus previous guidance of $2.25 - $2.35 per diluted share. (AR)

Fibre2fashion News Desk - India

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