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Why ExOne (XONE) Is Tanking After Hours

Stocks in this article: XONE

NEW YORK (TheStreet) -- ExOne (XONE) is skidding in extended trading after fourth-quarter earnings and sales fell below analysts' expectations.

After the bell, shares had taken off 8.6% to $39.97.

The 3D printing specialist reported a net loss of 22 cents a share in the three months to December, while analysts surveyed by Thomson Reuters had forecast profits of a penny a share.

Revenue of $10.7 million fell 16% from the year-ago quarter and missed estimates by $1.43 million.

The company sold twelve 3D printing machines over the quarter, compared to eight a year earlier. Machine revenue, which represents two-thirds of total revenue, dropped 22% from the fourth quarter a year earlier, a result of the mix of machines sold and their respective price points.

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Over fiscal 2014, the North Huntingdon, Penn.-based business expects revenue growth between 40% and 50%, assuming sales of $55 million to $60 million. Analysts had forecast slightly-higher revenue of $61.56 million, a 50.3% year-over-year increase.

"While we can't predict timing of our customers' behavior with accuracy, their feedback gives us their commitment to and confidence in our binder jetting technology and its varied industrial applications," CEO S. Kent Rockwell said in a statement.

"As we progress in 2014, we believe that the adoption of 3D printing in industrial manufacturing applications is gaining momentum in our global marketplace," he added.

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