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Stratasys' CEO Discusses Q2 2012 Results - Earnings Call Transcript

These and another applicable factors are discussed in the presentation and in Stratasys’ filing with the Securities and Exchange Commission, including its report on Form 10-K for the year ended 12/31/2011 and subsequent filings. Any forward-looking statements included in this presentation are as of the date they are given, and Stratasys does not intend to update them if its views later change, except as maybe required by law. These forward-looking statements should not be relied upon as representing Stratasys’ views as of any date subsequent to the date they are given.

The information discussed in this conference call includes financial results in accordance with accounting principles generally accepted in the United States, or GAAP. In addition, certain non-GAAP financial measures have been provided that exclude certain charges, expenses and income. The non-GAAP measures should be read in conjunction with the corresponding GAAP measures and should be considered in addition to and not as an alternative or substitute for the measures prepared in accordance with GAAP. The non-GAAP financial measures are provided in an effort to provide financial information that investors may deem relevant to evaluate results from the company's core business operations and to compare the company's performance with prior periods. The non-GAAP financial measures primarily identify and exclude certain discrete items, such as amortization expenses, expenses associated with stock-based compensation, and the expenses related to completing the proposed combination with Objet. The company uses these non-GAAP financial measures for evaluating comparable financial performance against prior periods.

Now, I’d like to turn the call over to Scott Crump, CEO of Stratasys.

Scott Crump

Good morning, and thank you for joining us to discuss our financial results. We are very pleased with our second quarter performance. Total revenue expanded to a record $49.4 million for the second quarter, an increase of 31% over last year. Non-GAAP operating profit was also impressive increasing by 38% over last year, and we just raised our revenue and non-GAAP earnings guidance for 2012.

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