Stratasys misses by $0.01, reports revs in-line; guides Q3 below consensus, withdraws FY15 guidance due to limited visibility
- Reports Q2 (Jun) earnings of $0.15 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.16; revenues rose 2.1% year/year to $182.3 mln vs the $184.12 mln consensus.
- Co issues downside guidance for Q3, sees EPS of $0.03-0.13, excluding non-recurring items, vs. $0.48 Capital IQ Consensus Estimate; sees Q3 revs of $175-190 mln vs. $218.71 mln Capital IQ Consensus Estimate. Due to the Company's limited visibility regarding the timing of improvements in growth, the Company has withdrawn its previously delivered full year 2015 financial guidance.
- "The merger between Stratasys and Objet in 2012 created synergies that combined with the heightened level of mainstream media attention within our industry, have contributed to a period of extraordinary growth for our company and industry over the past two years," said David Reis, chief executive officer of Stratasys. "We believe our industry is transitioning through a period of slower growth, as users digest their investments in 3D printing and expand the utilization of recently acquired capacity. Despite these headwinds, and certain ongoing macroeconomic challenges in Asia, we are encouraged by sequential improvement in areas of our business, and remain optimistic about our longer-term growth prospects."