Stratasys Ltd. (NASDAQ: SSYS) reported fourth-quarter and full-year 2013 results before markets opened Monday. For the quarter the 3D printer maker reported adjusted diluted earnings per share (EPS) of $0.50 and $155.8 million in non-GAAP revenues. In the same period a year ago, Stratasys reported EPS of $0.40 on revenue of $96.4 million. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.49 and $151.03 million in revenue.

For the full year, Stratasys posted EPS of $1.84 on revenues of $486.72 million compared with EPS of $1.49 on revenues of $359.1 million in 2012. Consensus estimates called for EPS of $1.83 on revenues of $481.31 million.

The company guided full-year 2014 revenues at $660 million to $680 million and adjusted diluted EPS at $2.15 to $2.25. On a GAAP basis, Stratasys guided full-year net income in a range of $10.5 million to $19.9 million, or $0.20 to $0.38 per share. Adjusted earnings guidance excludes $64.8 million of projected amortization of intangible assets; $25.1 million to $28.2 million of share-based compensation expense; and $8.8 million to $9.8 million in non-recurring expenses related to acquisitions.

The company also said it expects organic sales to rise by at least 25% in 2014, not including MakerBot, which Stratasys says is expected to grow at a higher rate. And while non-GAAP margins are expected to improve in the company’s core business, overall margins are reckoned to remain roughly flat this year due to lower margins on MakerBot products.

The not-so-good news for investors is the operating expenses are expected to “expand” this year as Stratasys invests more in sales and marketing and in R&D. Capital spending is also projected to rise to a range of $50 million to $70 million.

The company’s CEO said:

Our fourth quarter results reflect the ongoing realization of revenue synergies from the Stratasys-Objet merger, as well as the rapidly growing demand for additive manufacturing and 3D printing solutions we are observing worldwide. We experienced strong organic growth driven by demand across multiple product lines, as well as an impressive contribution from MakerBot.

When competitor 3D Systems Corp. (NYSE: DDD) reported results last Friday, the shares jumped more than 5% before closing the day up less than 2% on the worrying events in Ukraine. Stratasys results are somewhat better — for example, the company met an EPS estimate that was not revised down — but Ukraine is still on everyone’s mind and equities are not likely to perform well Monday regardless. Still Stratasys could be an exception.

Shares of Stratasys were down about 3.3% in premarket trading Monday, at $122.96 in a 52-week range of $61.62 to $138.10. Thomson Reuters had a consensus analyst price target of around $143.70 before the results were announced.

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