3D Printer Maker Stratasys Boosts Sales, Earnings

The company’s results include the impact from closing the acquisition of MakerBot on August 15. MakerBot contributed $11.6 million in adjusted revenue for the quarter.

Stratasys updated its previous guidance for the 2013 fiscal year. Revenue guidance was raised from a prior range of $455 million to $480 million to a new range of $470 million to $490 million. Estimated adjusted EPS remained in a range of $1.75 to $1.90 for the full year. Stratasys lowered its estimate at the end of the second quarter following its announced acquisition of MakerBot, which the company said would be “slightly dilutive” to EPS. Non-GAAP net income is now forecast at $77.7 million to $84.4 million. The estimated GAAP loss range has widened, from the prior range of $0.49 to $0.76 to a new range of $0.55 to $0.83.

The company’s CEO said:

As we enter the fourth quarter, we believe the acceleration in our organic growth rate, combined with the positive impact from our recent acquisition of MakerBot, will contribute to a strong finish to the year. Looking beyond 2013, we are well positioned to sustain our positive momentum as we accelerate our rate of new product introductions, and prepare to capitalize on additional inorganic growth opportunities. In addition, our industry remains ripe for growth as new and innovative applications continue to emerge for our technology. We are very excited about the future.

The 3D printing sector added another player last month when Germany-based Voxeljet A.G. (NYSE: VJET) held its initial public offering. The company’s share price doubled on its first day of trading and posted a new post-IPO high of $42.50 Wednesday, more than triple its IPO price of $13. Stratasys competitors 3D Systems Corp. (NYSE: DDD) and The ExOne Co. (NASDAQ: XONE) have posted year-to-date gains of 95% and 117%, respectively, compared with a gain of around 43% for Stratasys.

3D printing continues to get a lot of attention from investors. So far, everyone seems happy to treat these companies as growth plays — and they are growing. But stock prices are growing faster than revenues or profits. Just sayin’.

Shares of Stratasys were up about 4.1% in premarket trading Thursday, at $119.00 in a 52-week range of $59.02 to $120.25. Thomson Reuters had a consensus analyst price target of around $111.40 before the results were announced.