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Stratasys' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: SSYS

As we observed in the past several quarters, the second quarter benefitted from a strong sales of our higher margin Fortus 3D production systems which grew by 126% compared to last year. This strong performance in our Fortus line also helped drive impressive consumable revenue growth of 34% year-over-year during the second quarter. Consumable revenue continues to benefit from the expanding use of direct digital manufacturing applications which maintain relatively higher consumable utilization rate. We continue to believe the emerging market for DDM applications is at the beginning of a multi-secular growth opportunity.

Orders for our revolutionary new Mojo 3D printer were strong during the quarter, following the new products introduction in May. Mojo revenue during the quarter was minimal given customer ships that didn’t commence until the final days of the quarter, according to our plan. We believe Mojo is an ideal product to combine with our new channel development initiatives deemed at growing the sales of our most affordable products. We have now recruited and trained 120 new sales agents that will focus on our most affordable products including our uPrint line and our new Mojo 3D printer.

We also introduced an exciting new product within our Solidscape subsidiary, which I will discuss in more detail later in the call. And of course we are most excited about our announced plan to combine with Objet, a leading global manufacturer and distributor of 3D printing and rapid prototyping systems. We have made substantial progress in planning for the combined organization and remain on track for a third quarter closing of the transaction. Combing with Objet will expand our reach and provide a complementary product line that we can leverage into a rapidly growing market opportunity.

Read the rest of this transcript for free on seekingalpha.com

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