3D Systems Corporation (NYSE:DDD) just announced its financial results for the third quarter ended September 30, 2018. According to the company’s official press release, for the third quarter of 2018, the company reported 8 percent revenue growth to $164.5 million compared to $152.9 million in the third quarter of the previous year.
The company reported a GAAP loss of $0.10 per share in the third quarter of 2018 and a GAAP loss of $0.34 per share in the third quarter of 2017, and non-GAAP earnings of $0.02 per share in the third quarter of 2018 compared to a non-GAAP loss of $0.20 per share in the third quarter of 2017.
3D Systems Corporation (NYSE:DDD) bills itself as a leading 3D printing name.
The company provides three-dimensional (3D) printing products and services worldwide. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, and color jet printers that transform data input generated by 3D design software, CAD software, or other 3D design tools into printed parts under the Accura, DuraForm, LaserForm, CastForm, and VisiJet brand names.
It also develops, blends, and markets various print materials, such as plastic, nylon, metal, composite, elastomeric, wax, polymeric dental, and Class IV bio-compatible materials. In addition, the company provides digital design tools, including software, scanners, and haptic devices, as well as products for product design, mold and die design, 3D scan-to-print, reverse engineering, production machining, metrology, and inspection.
Further, it offers proprietary software and drivers that provide part review, part preparation, part placement, automated support building and placement, build platform management, and print queue management; and 3D virtual reality simulators and simulator modules for medical applications, as well as digitizing scanners for medical and mechanical applications.
Additionally, the company provides warranty, maintenance, and training services; on-demand manufacturing solutions; and software and precision healthcare services. It primarily serves companies and small and midsize businesses in medical, dental, automotive, aerospace, durable good, government, defense, technology, jewelry, electronic, education, consumer good, energy, and other industries through direct sales force, as well as partner channels and distributors.
Trouble on the Y Axis
We started off by noting that DDD just hit the wires with the announcement its financial results for the third quarter ended September 30, 2018. According to the company’s official press release, for the third quarter of 2018, the company reported 8 percent revenue growth to $164.5 million compared to $152.9 million in the third quarter of the previous year. The company reported a GAAP loss of $0.10 per share in the third quarter of 2018 and a GAAP loss of $0.34 per share in the third quarter of 2017, and non-GAAP earnings of $0.02 per share in the third quarter of 2018 compared to a non-GAAP loss of $0.20 per share in the third quarter of 2017.
“We are pleased with our continued strong growth in printer units and printer revenue, in both metals and plastics, as we continue to have balanced execution across all regions. At the same time, we are starting to see cost structure improvements as a result of actions we have taken over the last year,” commented Vyomesh Joshi (VJ) chief executive officer, 3D Systems.
This news, while obviously helpful, figures into a tape that has been defined by distribution of late, with shares of DDD taking a hit in recent action, down about -31% over the past week. It should be an interesting battle in terms of how the stock reacts in coming days.
3D Systems Corporation (NYSE:DDD) pulled in sales of $176.6M in its last reported quarterly financials, representing top line growth of 10.7%.
In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($119.3M against $225.6M, respectively).