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When 3D Systems Corp. (NYSE: DDD) released its fourth-quarter earnings report before the markets opened on Tuesday, the company posted $0.15 in earnings per share (EPS) and $165.9 million in revenue. In the same period of last year, it said it had EPS of $0.19 on $183.36 million in revenue. Overall this compared to the consensus estimates from Thomson Reuters that called for $0.13 in EPS and revenue of $176.76 million.

The revenue breakdown for the quarter was $99.98 million in product revenue and $65.96 million in services revenue. The same period of last year reportedly had $115.97 million in product revenue and $67.39 million in service revenue.

Unfortunately, demand from industrial customers combined with growth in software and health care services were not enough to offset the impact of weaker sales of professional printers and on-demand services, resulting in a 10% decrease in revenue in the fourth quarter of 2016 compared to the fourth quarter of 2015.

In terms of guidance for the 2017 full year, the company expects to see revenue growth in the range of 2% to 8%, resulting in revenue between $643 million and $684 million, with EPS in the range of $0.51 to $0.55. The consensus estimates are $0.51 in EPS and $684.8 million in revenue for the year.

The company generated $18.7 million of cash from operations during the fourth quarter. On the books, the cash and cash equivalents totaled $184.95 million at the end of the quarter, versus $155.64 million at the end of the same period of last year.

John McMullen, executive vice president and chief financial officer, commented:

We are seeing clear progress in our initiatives to drive operational excellence and establish an appropriate cost structure. We still have a lot of work to do, but we are making improvements in our key processes, infrastructure and operations. We expect continued positive cash generation and improved profitability while we make investments in IT, go to market and innovation.

Vyomesh Joshi (“V.J.”), CEO of 3D Systems, commented:

We see tremendous market opportunities for 3D production. With focused innovation and execution, we are delivering solutions for key verticals, use case by use case to drive profitable growth and make 3D production real,

Shares of 3D were trading down over 10% at $15.13 on Tuesday, with a consensus analyst price target of $15.64 and a 52-week trading range of $10.74 to $19.76.