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3D Systems 3Q earnings, revenue jump

The Associated Press

NEWS: 3D Systems Corp., a maker of 3-D printers, said Tuesday that its third-quarter net income increased as revenue grew sharply thanks to what it called "unprecedented demand" for its printers.

DETAILS: Sales of 3-D printers are growing quickly with the emergence of units for home and hobby use. 3D Systems sells its cheapest printer, the Cube, for around $1,300.

NUMBERS: 3D Systems earned $17.7 million, or 17 cents per share, up 31 percent from $13.5 million, or 16 cents per share, in the same period a year earlier. Adjusted earnings were 26 cents per share in the latest quarter, matching analysts' expectations.

Revenue grew 50 percent to $135.7 million from $90.5 million.

Analysts, on average, were expecting revenue of $132.4 million, according to a poll by FactSet.

FUTURE: 3D Systems lowered its adjusted earnings-per-share guidance for the full year to a range between 93 cents and $1.03 as it ramps up research and development, and marketing costs. In July it had forecast $1.05 to $1.20 per share. Analysts had expected $1.02 per share. The company expects revenue of $500 million to $530 million, up from its earlier forecast of $485 million to $510 million. Analysts were expecting $504.7 million.

STOCK: Shares of the Rock Hill, S.C.-based company rose 3 percent, or $1.73, to $58.71 in afternoon trading.