3D Systems Stock Down 18% On Weak Q3 Results

(RTTNews) - Shares of 3D Systems Corp. (DDD) slipped about 18% on extended session on Tuesday after the company's adjusted earnings and revenues for the third quarter fell short of Wall Street estimates.

Third-quarter net loss narrowed to $11.55 million or $0.10 per share from $37.67 million or $0.34 per share last year.

On an adjusted basis, the company reported an earnings of $0.02 per share, compared to a loss of $0.20 per share a year ago. Analysts polled by Thomson Reuters expected earnings of $0.03 per share. Analysts' estimates typically exclude one-time items.

Third-quarter revenues rose 8% to $164.5 million from $152.9 million a year ago. Analysts had a consensus revenue estimate of $171.86 million for the quarter.

The company reported 17 percent higher printer revenue on 93 percent higher printer unit sales, 14 percent growth in healthcare solutions, 2 percent growth in materials and 8 percent growth in software.

"We are pleased with our continued strong growth in printer units and printer revenue, in both metals and plastics, as we continue to have balanced execution across all regions. At the same time, we are starting to see cost structure improvements as a result of actions we have taken over the last year," commented CEO Vyomesh Joshi.

DDD closed Tuesday's trading at $16.96, up $1.33 or 8.51%, on the NYSE. The stock, however, slipped $3.05 or 17.98% in the after-hours trade.