07-Aug-14 07:09 ET In Play Stratasys beats by $0.11, beats on revs; raises Fy14 guidance above consensus; raises long term annual organic rev growth forecast to at least 25% from at least 20% (98.91 ) : Reports Q2 (Jun) earnings of $0.55 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus Estimate of $0.44; revenues rose 67.6% year/year to $178.5 mln vs the $156.97 mln consensus.
MakerBot branded products and services contributed $33.6 million to second quarter revenue, driven by channel expansion initiatives and the successful introductions of new products within the rapidly expanding segment for desktop 3D printers.
Co issues upside guidance for FY14, sees EPS of $2.25-2.35, excluding non-recurring items, vs. $2.18 Capital IQ Consensus Estimate; sees FY14 revs of $750-770 mln vs. $688.49 mln Capital IQ Consensus.
The co raised its financial guidance for fiscal 2014 to account for an improved outlook for the remainder of the year, as well as to account for the recent acquisitions of Solid Concepts and Harvest Technologies. The company raised its organic revenue growth forecast for 2014 to at least 30%, versus a previous forecast of at least 25%.
The company also updated its long-term operating model, which included raising its long-term annual organic revenue growth forecast to at least 25%, versus previous guidance of at least 20%.
In the second quarter the company announced agreements to acquire Solid Concepts and Harvest Technologies, which will be combined with RedEye, its existing digital manufacturing service business, to establish a single additive manufacturing services business unit. Both transactions closed in the third quarter, prior to the date of this release. |
