To all, earnings came out early and they're great. I suppose that will force the stock down some more:
BW1048 JUL 24,1996 5:12 PACIFIC 08:12 EASTERN
( BW)(STRATASYS)(SSYS) Stratasys announces record second quarter
revenues of $5.3 million -- up 150% from second quarter 1995;
Earnings exceed analysts' forecasts -- Company sees continued strong
sales growth in 1996
Business Editors
MINNEAPOLIS--(BUSINESS WIRE)--July 24, 1996--Stratasys Inc.
(NASDAQ NMS:SSYS) today announced record quarterly revenues of
$5,316,879 and $0.10 earnings per share for the quarter ended
June 30, 1996.
For the quarter ended June 30, 1996, revenues increased 150% to
$5,316,879 from $2,128,000 reported for the second quarter of 1995.
The net profit for the period was $502,911 or $0.10 per share
outstanding, compared to a net loss of ($59,300) or ($0.02) per
share outstanding for the comparable period in 1995. Gross profit
margin as a percentage of sales rose to 64.8 percent in the second
quarter of 1996 from 61.3 percent in second quarter of 1995.
Scott Crump, chairman and president, stated, "We are proud to
announce both record earnings and record revenues for Stratasys,
exceeding forecasts and that for the 14th consecutive quarter,
Stratasys has exceeded historical comparative revenue numbers.
Stratasys is introducing and selling our products into the worldwide
product development market which is becoming readily educated in the
ways in which rapid prototyping can be utilized. We are selling
large and small rapid prototyping systems into large and small
accounts, efficiently serving our target markets."
Crump concluded, "Revenues of $5.3 million were the highest in
the history of the company, exceeding first quarter 1996 results by
93 percent. We see continued strong sales opportunities and we
believe that Stratasys is on target to have record revenue growth in
1996. The coontinued success of our core FDM product line and the
additional second quarter revenue shipments of our new Genisys
DeskTop 3D-Printer help to build our confidence that 1996 will be our
most successful year to date."
Stratasys Inc., founded in 1989, is a manufacturer of rapid
prototyping systems for automotive, aerospace, industrial,
electronic, medical, and consumer products OEMs. The company's
patented Fused Deposition Modeling (FDM) and Genisys rapid
prototyping processes create 3-dimensional plastic and wax prototype
parts directly from 3-D CAD systems. See our Home Page
stratasys.com on the Internet.
Except for the historical information herein, the matters
discussed in this news release are forward looking statements that
involve risks and uncertainties, including the timely development
and acceptance of new products, the impact of competitive products
and pricing, and the other risks detailed from time to time in the
company's SEC reports, including the report on Form 10-KSB for the
year ended Dec. 31, 1995.
-0-
*T
STRATASYS INC.
STATEMENT OF OPERATIONS
(Unaudited)
Quarter ended June 30,
1996 1995
Revenues $5,316,879 $2,128,003
Cost of Sales 1,870,301 824,283
Gross Profit 3,446,578 1,303,720
Selling, R&D, General and
Administrative Expenses 2,984,786 1,381,191
Operating Profit (Loss) 461,792 (77,471)
Interest Income (Net) 111,119 18,164
Net Income (Loss) 572,911 (59,307)
Earnings (Loss) per Common and
Common Equivalent Shares
(assuming full dilution) 0.10 (0.02)
Weighted Average Number of Common and
Common Equivalent Shares Outstanding
(assuming full dilution) 5,725,264 3,393,534
--30--amp/ny*
CONTACT: Stratasys Inc.
Scott Crump, Chairman and President
612-937-3000
or
Sunrise Financial
Derek Caldwell, Executive Vice President
212/421-1616 |
