Boston, MA 08/08/2014 (wallstreetpr) – Global 3D printing and additive manufacturing solutions provider Stratasys, Ltd. (NASDAQ:SSYS) disclosed that it could observe strong winds of favorable sales momentum for its high-end systems and materials during the second quarter of the current calendar year. It helped the company to fuel an impressive organic revenue uptick in the same period and also allowed it to boost its guidance for the current year.
Organic Revenue
The company’s CEO David Reis said that there was a strong favorable sales momentum that translated into an exciting organic revenue growth of 35% in the June quarter. Its MakerBot products and its services were also a big contributor to its financial results for the second quarter lifting both its revenue, as well as, earnings that ultimately came in more than what the Street analysts had expected.
Stratasys, Ltd. (NASDAQ:SSYS) said that the demand for its high-end systems was fueled by manufacturing applications apart from the ongoing demand for its multi-material 3D printer. It had also witnessed robust demand for its dental solutions helped by Dental Advisory Board establishment and the launch of two cheaper entry-level systems with the objective of catering to dental applications requirement.
The company indicated that it had expanded its MaketBot sales channel by roping in The Home Depot, Inc. (NYSE:HD) and Tech Data Corp (NASDAQ:TECD) apart from establishing MaketBot Europe.
Outlook
Stratasys, Ltd. (NASDAQ:SSYS) expects to witness favorable momentum in the second half too. As a result, it had boosted its organic revenue uptick to at least 30% in the current year from 25% projected by it earlier. The company had also lifted its adjusted earnings to $2.25 – $2.35 a share from $2.15 – $2.25 a share while revenue forecast was boosted to $750 – $770 million from $660 – $680 million. Even the lower end of the company’s guidance is significantly higher than the Wall Street analysts’ estimations of $2.20 a share on revenue of $685.06 million for the year 2014.
2Q Results
The Stratasys, Ltd. (NASDAQ:SSYS) suffered a net loss of $173K or break-even per share, narrower than a net loss of $2.78 million or a loss of seven cents a share in the year-ago quarter. On an adjusted basis, Stratasys net income would have been $28 million or 55 cents a share. Its total revenue jumped 67% to $178.5 million over the previous year quarter. Both earnings and revenue were above the Street analysts’ predictions of 45 cents a share and $156.61 million respectively.
