Seeking Alpha

3D Systems Corp. misses by $0.01, misses on revenue

  • 3D Systems Corp. (DDD): Q4 EPS of $0.19 misses by $0.01.
  • Revenue of $154.8M (+52.4% Y/Y) misses by $0.18M.
  • Press Release
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Comments (20)
  • Andreas Hopf
    , contributor
    Comments (9305) | Send Message
     
    Guidance off. DDD stalls as expected. Nothing to see here, move on please.
    28 Feb 2014, 08:04 AM Reply Like
  • ewmpsi
    , contributor
    Comments (1544) | Send Message
     
    Fourth Quarter 2013 Revenue Highlights (compared to 2012 quarter):
    • 3D printers and other products revenue increased 76% to $73.9 million.
    • Print materials revenue grew 39% to $37.2 million.
    • Services revenue rose 33% to $43.7 million.
    • Healthcare revenue increased 67% to $21.8 million.
    • Consumer solutions expanded 162% to $8.9 million.
    --
    Full Year 2013 Revenue Highlights (compared to 2012):
    • 3D printers and other products revenue increased 80% to $227.6 million.
    • Print materials revenue grew 24% to $128.4 million.
    • Services revenue rose 27% to $157.4 million.
    • Healthcare revenue increased 45% to $71.7 million.
    • Consumer solutions expanded 206% to $34.8 million.
    --
    "Compared to our late quarter expectations, we are disappointed that our stronger order book didn't convert to higher revenue, but instead, resulted in a near doubling of last quarter's backlog. Despite our higher growth, certain revenue categories fell short of our expectations and the concentration of new product announcements deferred sales and suppressed expected gross profit margin for the quarter," continued Reichental.
    --
    Consistent with its prior comments, the company more than doubled its fourth quarter R&D spending from $7.8 million the prior year to $16.6 million for the December quarter and continued to rapidly increase its sales, marketing, infrastructure and talent expenditures in support of its growth initiatives and recently announced joint developments and alliances. The impact of these expenditures was partially reflected in the unveiling of 24 new products between December 1st 2013 and January 9th 2014. The company also continued to expand its manufacturing capacity to accommodate increasing demand.

     

    "Maintaining our historical performance doesn't require this level of increased expenditures, but planning to double our revenue over the next couple of years does," said Reichental. Although, in October, we guided for reduced earnings to reflect these actions, our late-quarter expenditures ramp surpassed our expectations."
    28 Feb 2014, 08:55 AM Reply Like
  • Tri Duong
    , contributor
    Comments (1498) | Send Message
     
    Great results!
    Considering the extra expense for R&D, 19 cents is much better than anticipated.

     

    A miss of 0.18M in 154.8M of revenue is not really a miss.
    28 Feb 2014, 08:17 AM Reply Like
  • CoryK
    , contributor
    Comments (4) | Send Message
     
    "R&D...from $7.8 million the prior year to $16.6 million for the December quarter... "

     

    I like it as well! A lot of people were complaining DDD wasn't putting enough into R&D.
    28 Feb 2014, 09:13 AM Reply Like
  • doug.whatzup
    , contributor
    Comments (88) | Send Message
     
    Up $4.14 so far pre-market. I guess expectations were below expectations.
    28 Feb 2014, 08:26 AM Reply Like
  • isenior
    , contributor
    Comments (16) | Send Message
     
    Agree with Andreas.
    28 Feb 2014, 08:29 AM Reply Like
  • greencharlie
    , contributor
    Comments (5) | Send Message
     
    not bad
    28 Feb 2014, 08:29 AM Reply Like
  • Cygnusx3
    , contributor
    Comments (206) | Send Message
     
    Bad news for the short-term trader. Great news for the investor.
    28 Feb 2014, 08:49 AM Reply Like
  • Dmitry Kovalchuk
    , contributor
    Comments (355) | Send Message
     
    Can someone explain me in simple words, what is so great about those results?
    28 Feb 2014, 08:55 AM Reply Like
  • ECapo
    , contributor
    Comments (519) | Send Message
     
    mikdns yes I can, there was no doom or gloom as predicted by shorts.
    28 Feb 2014, 09:02 AM Reply Like
  • Andreas Hopf
    , contributor
    Comments (9305) | Send Message
     
    Results are old thinking. Read this http://seekingalpha.co... and start dreaming. Who cares about fundamentals when you can be in a trance?
    28 Feb 2014, 09:42 AM Reply Like
  • ewmpsi
    , contributor
    Comments (1544) | Send Message
     
    Andreas,

     

    Exactly, you're learning after all ;-)
    28 Feb 2014, 10:05 AM Reply Like
  • Andreas Hopf
    , contributor
    Comments (9305) | Send Message
     
    Learning is so 90s.
    28 Feb 2014, 11:01 AM Reply Like
  • TruffelPig
    , contributor
    Comments (4094) | Send Message
     
    This is already all baked in because they did an outlook recently which led to the sell-off to $55 which I bought. Nothing new. But DDD is not stalling.
    28 Feb 2014, 09:03 AM Reply Like
  • CoryK
    , contributor
    Comments (4) | Send Message
     
    They said this would happen. They were right. No news is good news!
    28 Feb 2014, 09:13 AM Reply Like
  • mgreco04
    , contributor
    Comments (5) | Send Message
     
    This company has a bright future, get in while its cheap
    28 Feb 2014, 09:13 AM Reply Like
  • StepUp
    , contributor
    Comments (482) | Send Message
     
    I am not sure that people understand these results are based on the guidance provided in the company's Feb. 5 warning. So yes it is bad news.
    28 Feb 2014, 10:45 AM Reply Like
  • jlbrown
    , contributor
    Comments (42) | Send Message
     
    I couldn't agree more - get in now while it's cheap and hold for incredible future gains.
    28 Feb 2014, 04:18 PM Reply Like
  • Dmitry Kovalchuk
    , contributor
    Comments (355) | Send Message
     
    Cheap? P/E ratio:166.32 means cheap?

     

    Company that has earned 44 Mio. in 2013 has a market cap of 7,7 billion as of today. Basically it has market cap today as big as the current projected size of the 3D printing industry in 2018. You call it cheap?
    28 Feb 2014, 06:41 PM Reply Like
  • ECapo
    , contributor
    Comments (519) | Send Message
     
    mikdns good comments. 3D is somewhat like a bio speculative stock. When they come up with something good the stock price goes up and they grow. DDD seems to be trying to become the leader and expanding. It seems to be trying to find that next thing what ever it is. Will the stock move up and down yes. Will it take over or be a take over, maybe. As you mentioned before and I agree it has been around since the mid 1980s. But you have to admit it is expanding more now. They make motor vehicle and aircraft parts or in use in these industries. They even use it in space to make parts or on Military ships to name a few. Also as we talked about even in the Medical Science field now. 3D does have a future but who will be the leader is the question. It may be a company like DDD or one of the many 3 D increasing in Europe?
    1 Mar 2014, 11:36 AM Reply Like
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