In what is arguably the most impressive rise in value today, 3D Systems Corporation (NYSE: DDD) taking center stage. The stock is up by well over 30% after the company released its financial results for the second quarter.
3D Systems Beats Analyst Expectations
Investor excitement surrounding DDD is warranted today after the company beat on all accounts with regard to its financial results.
Revenue – During the second quarter 3D Systems generated $176.6 million in revenue, showing incredible growth on a year over year basis. In the same quarter one year ago, the company produced $159.5 million in revenue. Not only did the figure prove impressive growth, it surpassed analyst expectations of $165.8 million in Q2 revenue.
Earnings – In the report, 3D Systems showed earnings per share in the amount $0.06 on a non-GAAP basis. Analysts expected that the company would break even.
Printer Revenue – Perhaps the most impressive segment of revenue growth came from the printer segment. During the quarter, printer revenue climbed by 41% with 37% higher unit sales.
Vyomesh Joshi CEO at DDD, had the following to offer in a statement:
We are pleased with our results for the second quarter, which were driven by strong revenue growth, including growth in both printer revenue and units as we continue to improve execution and are seeing the early returns on our investments in both innovation and go-to-market.
In addition to our performance in the second quarter, we are also very pleased to be partnering with Georg Fischer, a highly regarded leader in machining solutions, to create new integrated solutions and expand our global network and market opportunity. With our product rollouts in 2018, we believe our portfolio is second to none in regards to breadth and competitiveness, and we continue to be keenly focused on execution and operational efficiency to drive long-term growth and profitability.
Rapid Growth Sets The Stage For Opportunity
With the earnings report, 3D Systems didn’t only show that it is capable of outpacing analyst expectations, it showed that there is plenty of room for the 3D printer industry to grow.
The truth of the matter here is that 3D printing is still in its infancy with several players working to bring further innovation to the space. As a result, we’re seeing better products, followed by stronger demand.
Fortunately for those who hold DDD shares, are invested in a company that seems to be on the leading edge of the innovation in the industry. Ultimately, the strong earnings report only serves to validay the long-standing bullish opinion that I and many others have surrounding this stock.