“We enter the fourth quarter with positive momentum in our Fortus product and RedEye paid parts business. In addition, our consumable business continues to benefit from our growing installation base of Fortus systems, as well as the higher material consumption trends provided by DDM applications. In addition, we are excited about our recent acquisition of Solidscape, which was accretive in the third quarter, and has provided an additional technology platform that we will develop for new applications.
“Finally, we are working hard on several new initiatives within 3D printing that we believe will position our products for stronger growth in the coming months. We look forward to completing a successful year and a strong start to 2012,” Crump concluded.
Stratasys provided the following information regarding financial guidance for the fiscal year ending December 31, 2012:
- Revenue guidance of $175 million to $190 million.
- Earnings guidance of $1.02 to $1.13 per share.
Earnings guidance includes the effect of the estimated expense related to employee stock options, which amounts to approximately $0.08 per share for the year.
Stratasys plans to hold a conference call to discuss its third quarter financial results on Wednesday, October 26, 2011 at 8:30 a.m. (ET).
The investor conference call will be available via live webcast on the Stratasys Web site at www.stratasys.com under the "Investors" tab; or directly at the following web address: http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=61402&eventID=4206426.
To participate by telephone, the domestic dial-in number is 800-215-2410 and the international dial-in is 617-597-5410. The access code is 22425002. Investors are advised to dial into the call at least ten minutes prior to the call to register.
The webcast will be available for 90 days on the "Investors" page of the Stratasys Web site or by accessing the provided web address.
Kelley Manufacturing Company case study: http://www.stratasys.com/Resources/Case-Studies/Aerospace-FDM-Technology-Case-Studies/Kelly-Manufacturing-Company.aspx.
(Financial tables follow)
Stratasys, Inc., Minneapolis, is a maker of additive manufacturing machines for prototyping and producing plastic parts. The company markets under the brands Dimension 3D Printers and Fortus Production 3D Printers. The company also operates RedEye On Demand, a digital manufacturing service for prototypes and production parts. In 2011 Stratasys acquired 3D printer maker, Solidscape, Inc. According to Wohlers Report 2011, Stratasys had a 41 percent unit market share in 2010, and has been the unit market leader for the ninth consecutive year. Stratasys patented and owns the Fused Deposition Modeling (FDM®) process. The process creates functional prototypes and manufactured goods directly from any 3D CAD program, using high-performance industrial thermoplastics. The company holds more than 285 granted or pending additive manufacturing patents globally. Stratasys products are used in the aerospace, defense, automotive, medical, business and industrial equipment, education, architecture, and consumer-product industries. Online at: www.Stratasys.com
This release is also available on the Stratasys Web site at www.Stratasys.com.
Forward Looking Statements
All statements herein that are not historical facts or that include such
words as “expects,” “anticipates,” “projects,” “estimates,” “vision,”
“could,” “potential,” “planning”, “intends”, “desires”, “assume” or
“believes” or similar words constitute forward-looking statements
covered by the safe harbor protection of the Private Securities
Litigation Reform Act of 1995. Except for the historical information
herein, the matters discussed in this news release are forward-looking
statements that involve risks and uncertainties. These include
statements regarding projected revenue and income in future quarters;
the size of the 3D printing market; our objectives for the marketing and
sale of our Dimension® and uPrint® 3D Printers;
our support removal systems; and our Fortus® 3D Production
Systems, particularly for use in direct digital manufacturing (DDM); the
demand for our proprietary consumables; the expansion of our paid parts
service; and our beliefs with respect to the growth in the demand for
our products. Other risks and uncertainties that may affect our business
include our ability to penetrate the 3D printing market; the success of
our distribution agreement with HP; our ability to achieve the growth
rates experienced in preceding quarters; our ability to introduce,
produce and market consumable materials, and the market acceptance of
these materials; the impact of competitive products and pricing; our
timely development of new products and materials and market acceptance
of those products and materials; the success of our recent R&D
initiative to expand the DDM capabilities of our core FDM technology;
and the success of our RedEyeOnDemandTM and other paid parts
services. They also include statements about future financial and
operating results of our company after the acquisition of Solidscape and
anticipated benefits of the acquisition. Actual results may differ from
those expressed or implied in our forward-looking statements. Such
forward-looking statements involve and are subject to certain risks and
uncertainties, which may cause our actual results to differ materially
from those discussed in a forward-looking statement. Such risk factors
include our ability to successfully integrate and market Solidscape
products, our ability to retain management and our ability to protect
and defend intellectual property. These statements represent beliefs and
expectations only as of the date they were made. We may elect to update
forward-looking statements, but we expressly disclaim any obligation to
do so, even if our beliefs and expectations change. In addition to the
statements described above, such forward-looking statements are subject
to the risks and uncertainties described more fully in our current
report on Form 8-K filed in connection with the completion of our
acquisition of Solidscape and in our reports filed or to be filed with
the Securities and Exchange Commission, including our annual reports on
Form 10-K and quarterly reports on Form 10-Q.