Stratasys Ltd. (NASDAQ: SSYS) released its first-quarter financial results Monday before the markets opened. The tech company $0.04 in earnings per share (EPS) on $172.7 million in revenue. That compared to Thomson Reuters consensus estimates of $0.03 in EPS on $172.57 million in revenue. In the first quarter of last year, it posted EPS of $0.40 in EPS on $151.18 million in revenue.
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The company gave guidance for the 2015 full year. Stratasys expects EPS to be in the range of $1.20 to $1.70 and total revenue to be between $800 million and $860 million. The consensus estimates are $1.39 in EPS and revenue of $825.48 million.
Stratasys sold 7,536 3D printing and additive manufacturing systems during the quarter, and on a pro forma combined basis, the company has sold a total of 129,197 systems worldwide at the end of March.
During this quarter, Stratasys additive manufacturing solutions were selected by aircraft manufacturer Airbus to produce 3D printed flight parts for use in the first-of-type A350 XWB aircraft. At the same time, the company completed its organizational integration of Solid Concepts, Harvest Technologies and RedEye Services to form Stratasys Direct Manufacturing (SDM).
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David Reis, CEO of Stratasys, said:
We continue to see significant long-term opportunity in the 3D printing and additive manufacturing market. We believe we are offering a transformative alternative to conventional manufacturing, design and engineering processes, and maintain an attractive pipeline of future opportunities. Although we have modified our near-term operating and capital investment plans to align with softness in market conditions, we will remain focused on the future, and continue to execute on a multi-year investment plan designed to drive accelerated adoption of 3D printing solutions and increased sales growth.
The company had cash and cash equivalents totaling $423 million at the end of the first quarter, compared to $442 million at the end of the fourth quarter of 2014.
Stratasys shares were up 1.3% at $35.79 shortly after Monday’s opening bell. The stock has a consensus analyst price target of $49.31 and a 52-week trading range of $34.78 to $130.83. Note that 52-week low was hit this past Friday.
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