3D Systems Shares Tumble After Profit, Sales Warning

Shares of 3D Systems tumbled 10% in premarket trade Wednesday, after the 3D printing company warned that it would miss third-quarter profit and sales forecasts, as the company failed to meet demand because of production delays. The company expects adjusted earnings per share of 16 cents to 19 cents and sales of $164 million to $169 million, both below the average analyst estimates compiled by FactSet of 21 cents and $186.2 million, respectively. "We are disappointed that we failed to fully capitalize on the robust demand for our direct metal and consumer products during the quarter," said Chief Executive Avi Reichental. "While we worked very hard to deliver these products sooner, achieving manufacturing scale, quality and user experience targets took significantly longer than we had anticipated." After nearly tripling in 2013, the stock has lost 53% so far this year, compared with a 5% gain in the S&P 500.