Stratasys, Ltd. Stock Surges On Surprise Profit

May 9, 2016 1:47 PM

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Stratasys, Ltd. Stock Surges On Surprise Profit

Stratasys released its first quarter earnings report before opening bell this morning, posting adjusted net income of 1 cent per share or $600,000 on $167.9 million in sales, against Wall Street’s estimates of 4 cents per share in losses on $164.82 million in revenue. In last year’s first quarter, the 3D printer maker posted $2 million or 4 cents per share in non-GAAP net income on $172.73 million in revenue.

GAAP losses were 44 cents per share or $23.1 million, compared to last year’s GAAP losses of $4.24 per share or $216.3 million. Adjusted EBITDA was $12.6 million. Stratasys said product revenue fell from $126.7 million last year to $118.6 million this year, while services revenue rose from $46.1 mil...

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