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When Stratasys Ltd. (NASDAQ: SSYS) released its fourth-quarter earnings report before the markets opened on Thursday, it said that it had $0.15 in earnings per share (EPS) and $175.3 million in revenue. Thomson Reuters consensus estimates had called for $0.05 in EPS and revenue of $169.45 million. The same period of last year reportedly had a net loss of $0.01 per share and $173.36 million in revenue.

The company posted product revenues of $126.56 million and service revenues of $48.75 million, compared with $124.32 million and $49.05 million, respectively, in the fourth quarter of last year.

In the fourth quarter, Stratasys launched its new Stratasys F123, which combines optimized workflow capability and increased speed with engineering grade performance, offering the ability to also print with low-cost PLA for concept modeling.

The outlook for the 2017 full year indicates the company expects to see EPS in the range of $0.19 to $0.37 and revenues between $645 million and $680 million. The consensus estimates are $0.49 in EPS and $693.67 million in revenue.

During the fourth quarter, the company generated $26.0 million in cash from operations, and it ended the period with $280.3 million in cash and cash equivalents.

Ilan Levin, CEO of Stratasys, commented:

We are pleased with our fourth quarter results, and the progress we are making to improve and deepen customer engagement. Our increased revenue, combined with the ongoing activities to better align our cost structure, contributed to a significant improvement in operating profit and cash generation during the quarter. Additionally, we are encouraged by the growth in our recurring revenue during the period, demonstrating strong utilization of our installed base of systems.

Shares of Stratasys were trading down 5.3% at $19.00 on Thursday, with a consensus analyst price target of $19.88 and a 52-week trading range of $16.37 to $30.46.