3D Systems Q3 Earnings Plunge, Reiterates Annual Guidance

(RTTNews) - Rock Hill, South Carolina-based 3D Systems Corp. (DDD) Monday reported a sharp fall in its third-quarter profit, dented by higher operating expenses. It also confirmed its previous annual guidance.

Net profit increased to $3.08 million or $0.03 per share from $17.66 million or $0.17 per share last year. Excluding certain items, the company recorded a profit of $19.68 million or $0.18 per share.

Revenues increased to $166.94 million from $135.72 million in the previous year. Operating expenses were $71.59 million compared to $42.87 million last year.

Looking ahead, the company continues to expect GAAP earnings of $0.18 to $0.28 per share, and non-GAAP earnings of $0.70 to $0.80 per share, on revenues of $650 million to $690 million.

Avi Reichental, CEO said "Despite our efforts, we were not able to deliver these direct metal and consumer products as soon as we anticipated. Now that these availability gaps have been resolved, we expect our revenue growth rate to increase."