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Stratasys (SSYS) Stock Falls on Weak Third Quarter Preliminary Results

NEW YORK (TheStreet) -- Shares of Stratasys (SSYS - Get Report) are down by 12.08% to $27.14 in afternoon trading on Friday, after the company provided weak third quarter guidance yesterday.

The 3D printer manufacturer warned that third quarter revenue will be between $166 million and $168 million. The company is also expecting to report an EPS between a net loss of 3 cents and a profit of 2 cents per share.

Analysts on average are expecting the company to report earnings of 8 cents per share on revenue of $184.6 million for the quarter.

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"We are disappointed with our third quarter results, which reflect a continuation of the challenging macroeconomic environment and weaker conditions in our market that we observed in the first half of 2015," CEO David Reis said in a statement.

"We will continue to make the adjustments to our structure and operating costs in light of market conditions, but we are moving forward with the longer-term initiatives that we believe will help position our company for future growth, including enhancements...