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Stratasys Reports Record Quarterly Revenue And Non-GAAP Net Income

“We remain excited about our pending, game-changing combination with Objet Ltd. We are conducting detailed discussions with the Committee on Foreign Investment in the United States (CFIUS) and are optimistic that any national security concerns it may have surrounding the merger can be addressed before the end of the 45-day review period that expires on November 30, 2012. Once combined, we will execute an integration plan that will allow us to offer a broad array of innovative 3D printing and direct digital manufacturing solutions through an impressive sales and marketing organization. We believe this will allow for market expansion and cross-selling opportunities of the combined product portfolio. We continue to believe that the merger will be completed prior to the end of the year.

“We are pleased with our third quarter performance, and are excited about the many initiatives that we believe will continue to drive growth for our company. In addition to the many opportunities provided by our pending combination with Objet, we have a strategy that is focused on developing our core technology platforms to meet the future needs of our customers. In addition, we are optimistic about our near-term performance, and have raised our outlook for the balance of 2012. We remain a financially strong company that is a leader within a rapidly evolving industry, and we look forward to completing another successful year,” Crump concluded.

Stratasys revised its financial guidance for the fiscal year ending December 31, 2012:
  • Revenue guidance of $194 million to $199 million, versus previous guidance of $193 million to $198 million.
  • Non-GAAP earnings guidance of $1.37 to $1.40 per share, versus previous guidance of $1.31 to $1.38 per share.
  • GAAP earnings guidance of $0.77 to $0.88 per share, versus previous GAAP guidance of $0.83 to $0.98 per share.

GAAP earnings guidance includes the estimated impact of Objet Ltd. transaction-related expenses. Financial guidance does not reflect the potential combined performance of Stratasys, Inc. and Objet Ltd., nor does it include the estimated incremental transaction-related costs that would be incurred upon closing of the Objet transaction. In addition to excluding the impact of expenses associated with the proposed combination with Objet Ltd., non-GAAP earnings guidance excludes the impact of stock-based compensation expense and the amortization expense of acquired Solidscape intangibles.

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