3D Systems Q2 Profit Down, Misses Estimates

(RTTNews) - 3D Systems Corp. (DDD) Thursday posted lower profit for the second quarter, reflecting higher expenses.

Net income was down to $2.19 million or $0.02 per share from $9.34 million or $0.10 per share a year ago.

On a non-GAAP basis, the company posted earnings of $0.16 per share. On average, 20 analysts polled by Thomson Reuters expected earnings per share of $0.18 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues, however, grew to $151.51 million from $120.78 million in the year-ago period, while analysts estimated revenues of $162.28 million.

Total operating expenses rose to $68.03 million from $45.78 million in the prior-year quarter.

The company said, for the full year, they raised the guidance and it now expects revenue to be in the range of $700 million - $740 million and GAAP earnings per share to be in the range of $0.44 - $0.56. Non-GAAP earnings per share is expected to be in the range of $0.73 - $0.85. Analysts forecast earnings of $0.81 per share on revenues of $713.82 million.