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Stratasys cuts adjusted profit estimate for second time
February 2, 2015 / 9:42 PM / 3 years ago

Stratasys cuts adjusted profit estimate for second time

(Reuters) - Stratasys Ltd (SSYS.O) cut its 2014 adjusted profit estimates for the second time and said it took a $100 million-$110 million charge in the fourth quarter related to its MakerBot home 3D printers business, which it acquired in 2013.

Stratasys’ shares fell 28 percent in post-market trading on Monday after the company also forecast full-year 2015 revenue below estimates.

Stratasys, which mostly makes industrial printers that sell for $15,000–$750,000, bought MakerBot to offer products starting at just over $1,000.

The company said the MakerBot business was hit by issues related to new products and distribution in the fourth quarter.

While 3D printers are increasingly being used to make industrial prototypes and specialized tools, sales of home 3D printers have not taken off yet.

Stratasys also said it would increase spending in 2015 to expand its product offerings.

The company forecast revenue of $940 million-$960 million for 2015 and adjusted profit of $2.07-$2.24 per share.

    Analysts were expecting a profit of $2.91 per share and revenue of $1.01 billion, according to Thomson Reuters I/B/E/S.

    For the full year ended December 2014, Stratasys estimated a loss of $129 million-$116 million, or $2.32-$2.58 per share, on revenue of $748 million-$750 million.

    On an adjusted basis, it now estimate a profit of $1.97 to $2.03 per share below the previous forecast of $2.21-$2.31.

    Analysts had expected a profit of $2.25 per share on revenue of $763.6 million.

    Reporting By Lehar Maan in Bengaluru; Editing by Joyjeet Das and Saumyadeb Chakrabarty

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