Stratasys Reports Record Financial Results


This release is also available on the Stratasys Web site at www.Stratasys.com.

STRATASYS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

----------------------------------------------------------------------
                                                Three Months Ended
                                                    December 31,
                                             -------------------------
                                                2005         2004
                                             (unaudited)  (unaudited)
----------------------------------------------------------------------

Net Sales
     Product                                 $18,926,700  $15,985,376
     Services                                  4,588,361    3,460,124
                                             ------------ ------------
                                              23,515,061   19,445,500
                                             ------------ ------------

Cost of sales
     Product                                   8,874,761    6,630,355
     Services                                  1,511,075    1,115,283
                                             ------------ ------------
                                              10,385,836    7,745,638
                                             ------------ ------------

Gross profit                                  13,129,225   11,699,862
                                             ------------ ------------

Costs and expenses
     Research and development                  1,763,896    1,650,814
     Selling, general and administrative       7,222,634    6,949,616
                                             ------------ ------------
                                               8,986,530    8,600,430
                                             ------------ ------------

Operating income                               4,142,695    3,099,432
                                             ------------ ------------

Other income (expense)
     Interest income                             384,930      273,028
     Foreign currency translation                (81,712)     185,351
     Other                                        (4,531)      16,615
                                             ------------ ------------
                                                 298,687      474,994
                                             ------------ ------------

 Income before income taxes                    4,441,382    3,574,426

 Income taxes                                  1,291,781    1,276,538
                                             ------------ ------------

 Net income                                                   $3,149,601      $2,297,888
                                                                                          ============  ============

  Earnings  per  common  share
                Basic                                                                            $0.31                $0.22
                                                                                          ============  ============
                Diluted                                                                        $0.30                $0.21
                                                                                          ============  ============

Weighted  average  number  of  common
    shares  outstanding
                Basic                                                                  10,283,200      10,420,322
                                                                                          ============  ============
                Diluted                                                              10,475,919      10,823,822
                                                                                          ============  ============


----------------------------------------------------------------------
                                                                                              Twelve  Months  Ended
                                                                                                      December  31,
                                                                                        --------------------------
                                                                                                2005                  2004

----------------------------------------------------------------------

Net  Sales
          Product                                                                  $66,178,670    $56,832,959
          Services                                                                  16,665,634      13,495,546
                                                                                          ------------  ------------
                                                                                            82,844,304      70,328,505
                                                                                          ------------  ------------

Cost  of  sales
          Product                                                                    30,125,996      24,110,537
          Services                                                                    5,193,253        3,888,239
                                                                                          ------------  ------------
                                                                                            35,319,249      27,998,776
                                                                                          ------------  ------------

Gross  profit                                                                    47,525,055      42,329,729
                                                                                          ------------  ------------

Costs  and  expenses
          Research  and  development                                    6,353,877        5,640,216
          Selling,  general  and  administrative            27,013,718      23,692,008
                                                                                          ------------  ------------
                                                                                            33,367,595      29,332,224
                                                                                          ------------  ------------

Operating  income                                                            14,157,460      12,997,505
                                                                                          ------------  ------------

Other  income  (expense)
          Interest  income                                                      1,616,851            726,558
          Foreign  currency  translation                              (484,352)          (26,102)
          Other                                                                                (7,062)          149,034
                                                                                          ------------  ------------
                                                                                              1,125,437            849,490
                                                                                          ------------  ------------

  Income  before  income  taxes                                      15,282,897      13,846,995

  Income  taxes                                                                    4,680,000        4,717,849
                                                                                          ------------  ------------

  Net  income                                                                    $10,602,897      $9,129,146
                                                                                          ============  ============

  Earnings  per  common  share
                Basic                                                                            $1.01                $0.88
                                                                                          ============  ============
                Diluted                                                                        $0.99                $0.85
                                                                                          ============  ============

Weighted  average  number  of  common
    shares  outstanding
                Basic                                                                  10,527,807      10,350,043
                                                                                          ============  ============
                Diluted                                                              10,744,583      10,725,901
                                                                                          ============  ============

STRATASYS,  INC.

CONSOLIDATED  BALANCE  SHEETS

----------------------------------------------------------------------
                                                                                        December  31,    December  31,
                                                                                                2005                  2004
                                                                                        --------------------------

ASSETS

Current  assets
        Cash  and  cash  equivalents                                $10,105,199    $17,729,845
        Short-term  investments                                        20,000,000      38,120,000
        Accounts  receivable,  less  allowance  for
          returns  and  doubtful  accounts  
          of  $1,584,149  in  2005  and  
          $1,731,830  in  2004                                              20,019,177      14,951,350
        Inventories                                                              10,887,198        7,520,422
        Net  Investment  in  sales-type  leases                2,036,386        1,324,499
        Prepaid  expenses                                                      2,289,173        1,756,494
        Deferred  income  taxes                                                597,000            455,000
                                                                                        --------------------------
                Total  current  assets                                    65,934,133      81,857,610
                                                                                        --------------------------


Property  and  equipment,  net                                      17,294,575      10,043,657
                                                                                        --------------------------

Other  assets
        Intangible  assets,  net                                          4,380,193        2,551,581
        Net  investment  in  sales-type  leases                3,143,157        2,693,830
        Deferred  income  taxes                                                392,000            354,000
        Long-term  investments                                          11,297,550            720,000
        Other                                                                            2,237,985            978,339
                                                                                        --------------------------
                                                                                            21,450,885        7,297,750
                                                                                        --------------------------

Total  assets                                                                $104,679,593    $99,199,017
                                                                                        ==========================

LIABILITIES  AND  STOCKHOLDERS'  EQUITY

Current  liabilities
        Accounts  payable  and  other  current
          liabilities                                                              9,545,265        6,643,620
        Unearned  maintenance  revenue                              8,865,253        7,668,362
                                                                                        --------------------------
                Total  current  liabilities                          18,410,518      14,311,982
                                                                                        --------------------------

Stockholders'  equity
    Common  stock,  $.01  par  value,  authorized
      15,000,000  shares;    issued  12,287,196  
      shares  in  2005  and  12,211,835  
      shares  in  2004                                                                122,872            122,118
    Capital  in  excess  of  par  value                          72,465,952      71,762,100
    Retained  earnings                                                    30,795,945      20,193,048
    Accumulated  other  comprehensive  loss                  (324,599)              5,910
    Less  cost  of  treasury  stock,  2,171,529
      and  1,770,026  shares  in  2005  and  
      2004,  respectively                                                (16,791,095)    (7,196,141)
                                                                                        --------------------------
                Total  stockholders'  equity                        86,269,075      84,887,035
                                                                                        --------------------------

Total  liabilities  and  stockholders'  equity    $104,679,593    $99,199,017
                                                                                        ==========================
 





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