3D Systems (DDD) is reiterating full-year guidance for revenue of $680M-$720M and EPS of $0.73-$0.85; the consensus is at $701.1M and $163.2M.
Gross margin (a concern as of late) fell 60 bps Q/Q and 130 bps Y/Y in Q1 to 51.5%; 3D attributes the decline to a larger printer mix. As promised, 3D is ramping its internal investments: SG&A spend rose 65% to $48.7M, and R&D spend 164% to $17.3M.
Product revenue (inc. printers) rose 53% Y/Y to $60.8M after growing 76% in Q4. Print materials grew 41% (to $40.4M) vs. 39% in Q4, and services 38% (to $46.6M) vs. 33%.
Design/manufacturing printer sales rose 76% Y/Y (mix shift towards cheaper printers?), and quarter-ending backlog totaled $28.8M. Consumer revenue rose 150% to $9.7M (6.5% of total revenue).
Rival Stratasys (SSYS), which reports on May 9, is joining 3D Systems in trading lower.