Stratasys Reports Fourth Quarter and Fiscal Year 2014 Financial Results

“Over the course of the past year we introduced 25 major new 3D printing systems and materials, expanded our go-to-market initiatives, and completed several strategic acquisitions. We are pleased with the progress we have made in integrating our recent acquisitions, and we look forward to enhancing our customer offering through the myriad technologies offered by our newly branded Stratasys Direct Manufacturing service, comprising Solid Concepts, Harvest Technologies and RedEye, as well as GrabCAD. We are positioning Stratasys for long-term growth by assembling best-in-class technologies and teams to build a market leading company with the most comprehensive product and service solutions in the industry,” concluded Reis.

Financial Guidance:

Stratasys continues to expect to achieve its fiscal year 2015 guidance, as previously provided in its February 2, 2015 press release:

  • Revenue of $940 million to $960 million.
  • Non-GAAP net income of $109 million to $118 million, or $2.07 to $2.24 per diluted share.
  • GAAP net loss of $23 million to $10 million, or ($0.45) to ($0.20) per share.
  • Tax rate of 5% to 10%.
  • Capital expenditures of $160 to $200 million.
  • Total operating expenses in 2015 are expected to be in the range of 46% to 47% of anticipated revenues.
  • Projected Non-GAAP net income is expected to be derived disproportionately from the second half of fiscal 2015, driven by the projected timing of revenue and operating expenses.

Non-GAAP earnings guidance excludes $85 million of projected amortization of intangible assets; $32 million to $35 million of share-based compensation expense; $41 million to $43 million in non-recurring expenses related to acquisitions; and includes $30 million to $31 million in tax expenses related to Non-GAAP adjustments.

Appropriate reconciliations between GAAP and non-GAAP financial measures are provided in a table at the end of this press release. The table provides itemized detail of the non-GAAP financial measures.

Stratasys reiterated the following information regarding the Company's long-term operating model:

  • Annual organic revenue growth of at least 25%.
  • Non-GAAP operating income as a percent of sales of 18% to 23%.
  • Non-GAAP effective tax rate of 10% to 15%.
  • Non-GAAP net income as a percent of sales of 16% to 21%.

Stratasys Ltd. Q4-2014 Conference Call Details

Stratasys will hold a conference call to discuss its fourth quarter financial results on Monday, March 2, 2015 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://edge.media-server.com/m/p/fsefp4qi.

The conference call script and accompanying slide presentation will be available on the Stratasys Web site at www.stratasys.com under the "Investors" tab.

To participate by telephone, the domestic dial-in number is 800-510-9691 and the international dial-in is 617-614-3453. The access code is 23883766. 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.

Cautionary Statement Regarding Forward-Looking Statements

The statements in this press release regarding Stratasys’ business and operating expectations, projections and goals, as well as its financial guidance and projections under the caption “Financial Guidance,” are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are often characterized by the use of forward-looking terminology such as "will," "expect," "anticipate,” "continue," "believe," "project" or other similar words, but are not the only way these statements are identified. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. The Company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate.

Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things: the extent of our success at introducing new or improved products and solutions that gain market share; the extent of our success at efficiently and successfully integrating the operations of various companies that we have acquired or may acquire; the impact of competition and new technologies; general market, political and economic conditions in the countries in which we operate; projected capital expenditures and liquidity; changes in our strategy; government regulations and approvals; changes in customers' budgeting priorities; the overall global economic environment; litigation and regulatory proceedings; and those factors referred to under "Risk Factors", "Information on the Company", "Operating and Financial Review and Prospects", and generally in the Company's annual report on Form 20-F for the year ended December 31, 2014 to be filed with the U.S. Securities and Exchange Commission (the "SEC") on March 3, 2015, and in other reports that the Company has furnished to, or filed with the SEC. Readers are urged to carefully review and consider the various disclosures made in the Company's SEC reports, which are designed to advise interested parties of the risks and factors that may affect its business, financial condition, results of operations and prospects. Any forward-looking statements in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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