This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Stratasys Soars as Revenue Jumps 23% (Update 1)

Stocks in this article: SSYSDDD

Updated from 8:48 a.m. EST to provide analyst comments in the eighth paragraph.

NEW YORK ( TheStreet) -- Stratasys (SSYS) shares soared in premarket trading Monday after the 3-D printing company beat Wall Street expectations, as revenue rose 23% year over year.

The Eden Prairie, Minn.-based company posted non-GAAP earnings of 40 cents a share on $96.4 million in revenue. Analysts polled by Thomson Reuters were expecting earnings of 38 cents a share on revenue of $52.83 million.

"Our financial results reflect the strong demand for our products driven by the rapidly growing interest in additive manufacturing worldwide, as more companies are recognizing how our technology can reshape the way their products are designed and manufactured," said Stratays CEO David Reis in a press release Monday.

Aiding the better-than-expected results were non-GAAP gross margins, which rose from 56.9% to 57.8% year over year, and improved to 58% for all of fiscal 2012. The company noted it shipped 29,816 systems as of the end of the year, and ended with a backlog totaling $28.6 million.

Stratasys provided full-year guidance for 2013 that was better than Wall Street is anticipating. The company said it expects revenue to be between $430 million and $445 million for the full year, earning between $1.80 and $1.95 a share on a non-GAAP basis. Analysts polled by Thomson Reuters are expecting $421.07 million in sales and $1.86 a share in earnings.

The company also said it expects the second half of the year to be stronger than the first, due to its merger with Objet. JPMorgan analyst Paul Coster noted the merge would make Stratasys the leader in the 3-D printing space in a recent research note.

" Stratasys is the leading supplier of professional 3D systems used in rapid prototyping owing to the proprietary multi-material capabilities of Objet's Polyjet printers and the ABS-like properties of the firm's FDM technology, which also positions SSYS very well for DDM applications," Coster wrote in the note. He rates shares "neutral" with a $86.50 price target.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,614.81 +215.14 1.31%
S&P 500 1,941.28 +37.27 1.96%
NASDAQ 4,419.4780 +103.4040 2.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs