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3D Systems Corporation (DDD) Shares Plummet on Earnings Miss

3D Systems Corporation (NYSE:DDD) posted its third-quarter results of fiscal 2017, missing the mark by a considerable margin.

3D Systems Corporation (DDD)

Analysts were expecting an impressive quarter from the 3D-printing company, but they were disappointed to find out that the company posted a Non-GAAP loss of 20 cents per share.

Wall Street’s consensus estimate for earnings of 12 cents per share. Revenue came in at $152.9 million, while the Wall Street projection was for sales of $162.5 million. In the year-ago quarter, 3D Systems posted non-GAAP earnings of 14 cents per share on $156.4 million in revenue.

“While third quarter results did not meet our expectations, we believe actions taken during the quarter both organizationally and operationally better position the company for long term success,” CEO Vyomesh Joshi said in a press release.

On a GAAP basis, earnings came in at a loss of 34 cents per share, versus earnings at a loss of 19 cents per share in the year-ago quarter. The quarter’s gross margin amounted to 38.3% for the period, compared to 44.1% a year ago.

3D Systems also withdrew its guidance as the company’s management is focusing on building for “long term growth, profitability and success.” This makes it difficult to know exactly how the company will perform in the future.

DDD stock fell more than 15.7% after the bell Tuesday. The stock gained 4.7% during regular trading hours as Wall Street had high hopes for the stock.

The post 3D Systems Corporation (DDD) Shares Plummet on Earnings Miss appeared first on InvestorPlace.


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