The estimate came from Bloomberg. 3D shares recently traded at $15.76, up 40%. The stock has soared 80% over the past 12 months.
The stock also likely benefited from 3D unveiling its Jan. 1 sale of two of its software businesses for $64.2 million, excluding $8.9 million of cash transferred to the buyer.
The buyer is a subsidiary of ST Acquisition Co. ST is an affiliate of Battery Ventures, the Boston venture-capital and private-equity firm.
As for the preliminary numbers, 3D, Rock Hill, S.C., expects fourth-quarter non-GAAP operating earnings of $11 million to $19 million. On a GAAP basis, operating results are expected to range from a loss of $8.6 million to a profit of $500,000.
The adjusted operating-profit range compares with $5.6 million reported for the year-earlier fourth quarter and break-even in third-quarter 2020.
3D reported GAAP operating losses of $4.7 million for fourth-quarter 2019 and $67.6 million for this year’s third quarter.
“In the summer of 2020, we laid out a four-stage plan to deliver increased value to our customers and shareholders,” 3D Chief Executive Jeffrey Graves said in a statement.
“This plan included reorganization into two business units, healthcare and industrial solutions; restructuring of our operations to gain efficiencies; divesting of non-core assets; and investing for accelerated, profitable organic growth.”
The result: “significant progress from these efforts, as reflected in accelerated top-line growth and rapidly strengthening operating margins,” Graves said.
3D plans to report fourth-quarter results after the market closes Feb. 24.