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3D Systems plunges after earnings miss, guidance withdrawn

3D Systems Corp. DDD, +4.74% stock plunged Tuesday afternoon after the 3D-printing company reported much worse quarterly financial performance than expected and withdrew its full-year guidance. 3D Systems reported a third-quarter net loss of $37.7 million, or 34 cents a share, on sales of $152.9 million, down from $156.4 million a year ago. After adjustments for stock-based compensation and other effects, the company reported a loss of 20 cents a share, after reporting adjusted earnings of 14 cents a share in the same quarter last year. Analysts had been expecting an adjusted gain of 12 cents a share on sales of $162.6 million on average, according to FactSet. The company also withdrew its forecast for the full year with only one quarter left to report, after previously predicting 2017 adjusted earnings of 46 cents a share on sales of $643 million to $671 million. "Predictability has been difficult in this environment, and therefore, management believes it is prudent to withdraw guidance at this time," 3D Systems said in its announcement. Shares dropped about 18% and neared $10 in after-hours trading, after closing with a 4.7% gain at $12.38.

3D Systems Corp.


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