3D Systems Zooms 30% On Preliminary Q3 Results

(RTTNews) - Shares of 3D Systems Corporation (DDD) are rising nearly 30% Thursday morning after the company reported preliminary fourth quarter revenue, better than analysts' view.

The company expects revenue for the fourth quarter to be in the range of $170 million to $176 million. On average, 8 analysts polled by Thomson Reuters expect revenue of $139.91 million for the quarter.

Additionally, 3D Systems said it has completed the sale of its Cimatron and GibbsCAM software businesses to a subsidiary of ST Acquisition Co., an affiliate of Battery Ventures, on January 1, 2021, for about $64.2 million.

The company also paid off about $21 million of outstanding balances under its senior secured term loan facility by using a portion of the proceeds from the sale.

DDD touched a new high of $14.67 this morning and is currently trading at $14.53.