Stratasys Results Top Estimate, Lifts FY Guidance; Stock Up 18% - Update

(RTTNews) - Stratasys Ltd (SSYS) said Thursday its net loss for the second quarter narrowed, as the 3D printer maker benefited from higher sales as well as a tax benefit.

Moving forward, Stratasys lifted its guidance for 2014. Following the announcement, Stratasys shares gained 18 percent in morning trade on the Nasdaq.

Stratasys, based in Eden Prairie, Minnesota, posted quarterly net loss of $173,000 or breakeven per share, compared with a loss of $2.8 million or $0.07 per share last year.

Excluding items, adjusted earnings for the quarter were $0.55 per share, compared with $0.45 per share a year ago.

On average, 22 analysts polled by Thomson Reuters expected earnings of $0.45 per share for the quarter. Analysts' estimates typically exclude one-time items.

Sales for the quarter soared 67 percent to $178.5 million from $106.5 million in the prior year. Analysts expected sales of $156.6 million for the quarter.

The company sold 14,909 3D printing and additive manufacturing systems during the quarter.

Stratasys said MakerBot branded products and services contributed $33.6 million to revenue.

For the full year 2014, Stratasys now expects adjusted earnings of $2.25 and $2.35 per share and sales of $750 million and $770 million, up from prior guidance of $2.15 and $2.25 per share earnings and $660 million and $680 million sales.

Analysts currently expect earnings of $2.20 per share on sales of $685 million for the year.

The company believes the recent acquisitions of Solid Concepts and Harvest Technologies will add modestly to adjusted earnings.

Stratasys is trading at $116.72, up $17.81 or 18.01%, on a volume of 5.3 million shares.