3D Systems Expects Most Of 2014 Revenue In Second Half

Features Reuters

Three-dimensional printer maker 3D Systems Corp said most of the revenue and profit it expects for 2014 would be generated only in the second half of the year when it launches new products and services.

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3D Systems shares fell nearly 6 percent on Tuesday. Rival Stratasys Ltd's shares were down 3 percent.

The company, which reported a better-than-expected 45 percent rise in first-quarter revenue, reaffirmed its full-year forecast.

The company had earlier forecast 2014 adjusted earnings of 73 cents-85 cents per share on revenue of $680 million-$720 million.

3D Systems on Tuesday said net income attributable to it fell to $4.9 million, or 5 cents per share, in the quarter ended March 31, from $5.9 million, or 6 cents per share, a year earlier.

Excluding items, the company earned 15 cents per share, in line with analysts' average expectation.

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Revenue jumped to $147.8 million from $102.1 million. Sales of 3D printers and products rose 53 percent to $60.8 million.

Analysts had expected revenue of $145.5 million, according to Thomson Reuters I/B/E/S.

Gross profit margin fell 130 basis points to 51.1 percent as printers became a larger part of the product mix, delaying the company's "anticipated expansion" of gross margin.

3D Systems, which named Black Eyed Peas rapper will.i.am chief creative officer in January, sells its printers for $1,000 to nearly $1 million. Its customers include aerospace, defense and healthcare companies.

Rivals such as ExOne Co sell industrial 3D printers for as much as $1.4 million.

Shares of 3D Systems have fallen 47 percent this year. They closed at $49.26 on the New York Stock Exchange on Monday.