After a solid Q1 beat, Stratasys (SSYS) has given up the big initial big rally to turn negative. Reports Q1 (Mar) earnings of $0.01 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus of ($0.05); revenues fell 2.8% year/year to $167.9 mln vs the $164.57 mln Capital IQ Consensus.Co reaffirms guidance for FY16, sees EPS of $0.17-0.43, excluding non-recurring items, vs. $0.30 Capital IQ Consensus Estimate; sees FY16 revs of $700-730 mln vs. $711.54 mln Capital IQ Consensus Estimate. Though the 3D printing stock posted strong Q1 numbers in comparison to estimates, the big rally off the lows needed some actual signs that business is something more than stable. Note that revenues actually declined YoY and the company only reaffirmed FY16 guidance. At a market cap of only $1 billion, Stratasys is definitely a buy on the dips, especially if the stock heads back down to previous lows. A double bottom below $16 would be a gift. Disclosure: No position