3D Systems Corp. (NYSE: DDD) released its fourth-quarter financial results after the markets closed on Wednesday. The company said that it had $0.05 in earnings per share (EPS) on $177.3 million in revenue, compared with consensus estimates from Thomson Reuters that called for breakeven earnings and $163.47 million in revenue. The same period of last year had $0.15 in EPS on $165.94 million in revenue.
During the quarter, demand across categories fueled growth, driven by strong execution in EMEA and improved execution in the Americas and Asia. The company reported revenue growth in health care, materials, software and on-demand manufacturing, as well as higher printer unit sales in the fourth quarter.
The company did not issue any guidance for the first quarter, but analysts are forecasting $0.01 in EPS on $156.44 million in revenue for the quarter. Looking at the 2018 full year, there are consensus estimates calling for $0.18 in EPS on $653.18 million in revenue.
On the books, the company generated $8.2 million of cash from operations and ended the quarter with $136.3 million of cash on hand, which compares with $184.9 million in the same period last year.
Vyomesh Joshi (VJ), CEO of 3D Systems, commented:
We are pleased with the growth in revenue driven by healthcare, materials, software and on demand manufacturing, as well as more balanced regional execution experienced in the fourth quarter. While we still have work to do, we made significant progress last year, and we believe our investments in go-to-market combined with improved processes and better execution have started to show returns and position the company well going forward.
Shares of 3D Systems closed Wednesday at $12.12, with a consensus analyst price target of $9.83 and a 52-week range of $7.92 to $23.70. Following the announcement, the stock was up about 13% at $13.75 in the after-hours session.
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