3D Systems Stock Soars On Preliminary Results, Earnings Release Delayed

Shares of 3D Systems (DDD – Free Report) soared more than 15% in after-hours trading Wednesday, shortly after the company released preliminary Q4 financial results and announced that it was rescheduling its report date to March 14.

For the fourth quarter of 2017, 3D Systems said that it anticipates revenue will be in the range of $176 million to $178 million, up about 6% to 7% year over year. Our latest consensus estimate was calling for revenues to reach $161.5 million.

The 3D printing company also said that it expects non-GAAP quarterly earnings of $0.03 to $0.05 per share, which would beat the current Zacks Consensus Estimate of $0.02. However, these results would represent a significant decline from the $0.15 per share witnessed in the prior-year period.

“We are pleased with the growth in revenue driven by healthcare, materials, software and on demand manufacturing, as well as more balanced regional execution experienced in the fourth quarter,” said CEO Vyomesh Joshi.

3D Systems said that the delay of its official report is related to accounting for revenue and costs associated with product warranties. Nevertheless, the company said that the delayed filing has “no impact” on its customers or operations.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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