Stratasys Cuts FY14 Guidance, Provides Weak FY15 Outlook; Stock Down 28%

(RTTNews) - 3D printer maker Stratasys Ltd (SSYS) on Monday said it expects to report adjusted earnings of $1.97 to $2.03 per share and revenues of $748 to $750 million for the full year 2014. Earlier it expected earnings of $2.21 to $2.31 per share and revenues of $750 million to $770 million for 2014.

Analysts polled by Thomson Reuters expect the company to report earnings of $2.25 per share on revenues of $763.6 million for 2014. Analysts' estimates typically exclude special items.

During December 2014, Stratasys updated the goodwill impairment analysis of its MakerBot reporting unit. As a result, the company expects to recognize a non-cash, non-tax-deductible goodwill impairment charge of up to $110 million in the fourth quarter.

Stratasys projects fourth quarter sales growth of about 38% over the same period last year. Analysts expect sales growth of $48%.

For the full year 2015, the company expects adjusted earnings of $2.07 to $2.24 per share and revenues of $940 to $960 million. Analysts estimate earnings of $2.91 per share on revenues of $1.01 billion.

Stratasys said it plans to invest an additional 2% in operating expenses out of anticipated revenues in 2015 and future periods to boost growth.

SSYS closed Monday at $80.08, up $0.59 or 0.74%, on a volume of 1.5 million shares on the Nasdaq. In after hours, the stock dropped $22.29 or 27.83% at $57.79.