Stratasys Q2 Net Loss Narrows; Lifts Annual Outlook - Quick Facts

(RTTNews) - 3D printer maker Stratasys Ltd. (SSYS) Thursday reported second-quarter net loss which narrowed, helped by robust sales growth and a tax benefit. In addition, the company raised its annual earnings and sales outlook.

For the June quarter, when the company sold 14,909 3D printing and additive manufacturing systems, net loss totaled $173,000 or breakeven earnings per share, compared with a loss of $2.8 million or $0.07 per share a year earlier.

Excluding certain items, the company reported a profit of $27.99 million or $0.55 per share, compared with $18.57 million or $0.45 per share a year ago.

On average, twenty-two analysts polled by Thomson-Reuters estimated the company's earnings to be $0.45 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly sales surged to $178.46 million, from $106.48 million last year, above the $156.61 million Wall Street expected.

For the full year, the company is raising its adjusted earnings guidance to $2.25 and $2.35 per share, from the previous range of $2.15 and $2.25. It has increased the sale outlook to $750 million and $770 million, from the $660 million and $680 million previously projected.

The company believes the recent acquisitions Solid Concepts and Harvest Technologies will add modestly to annual adjusted earnings