- 3D Systems (NYSE:DDD) sees Q1 EPS of $0.02-0.04, vs. consensus $0.17.
- Sees Q1 revenue of $158-160M, vs. consensus $182.78M.
- "We were surprised and disappointed by the abrupt interruption in customer demand late in the quarter from several economic factors that we believe caused our industrial customers to defer their planned investments.
- "We believe the combination of our expanding international business and growing concentration of manufacturing customers made us more vulnerable to the steep currencies decline relative to the U.S. dollar and the aftermath of lower oil prices that curbed aerospace and automotive expenditures.
- "Several weeks into the second quarter, bookings are ahead of the same period in the first quarter. Specifically, OEMs that paused to assess their own exposure to foreign currency and macroeconomic impacts are beginning to resume their capital investments and are making the purchases they deferred during the first quarter.
- "Given current uncertainties from continued macroeconomic pressures and foreign currency headwinds, management is undertaking a comprehensive evaluation of its full year guidance and plans to update investors during its scheduled first quarter 2015 earnings conference call on May 6, 2015.
- "While the current economic climate disrupted our planned cadence for 2015, we believe that the fundamentals of our business and the strength of our portfolio remained intact. We are encouraged by the overall strengthening of our order patterns thus far during the second quarter and are accelerating our planned integration, productivity and efficiency measures without impairing future growth."
- DDD -14% premarket.
- Source: Press Release