3D Systems 3Q net income doubles, lifts outlooks
ROCK HILL, S.C. (AP) — 3D Systems Corp. said Thursday that its third-quarter net income doubled as printer sales soared.
The company's results topped analysts' estimates and it lifted its full-year adjusted earnings and revenue forecasts. Shares climbed nearly 14 percent in afternoon trading.
3D Systems earned $13.5 million, or 24 cents per share, for the period ended Sept. 30. That compares with $7.2 million, or 14 cents per share, a year ago.
Removing acquisition-related expenses and other items, earnings were 32 cents per share.
Analysts predicted earnings of 21 cents per share, according to a FactSet survey.
Revenue jumped 57 percent to $90.5 million from $57.5 million. Wall Street expected $87 million.
Sales of 3D printer units more than doubled excluding Cube printer units. Print materials revenue and services revenue also increased.
For the full year, 3D Systems now expects adjusted earnings of $1.20 to $1.30 per share on revenue in a range of $345 million to $365 million. Its prior guidance was for $1 to $1.25 per share on revenue between $330 million and $360 million.
Analysts forecast earnings of 73 cents per share on revenue of $343.6 million.
3D Systems provides 3-D printers, print materials and on-demand custom parts services. It also provides CAD software and plugins.
The company's stock climbed $5.30, or 14.8 percent, to $41.22. Over the past year, the shares have traded in a range of $14.21 to $44.80.