Stratasys Reports Record Q2 Financial Results


Non-GAAP Discussion

The information discussed within this release includes financial results and forward-looking financial guidance that are in accordance with U.S. generally accepted accounting principles (GAAP). In addition, certain non-GAAP financial measures and guidance have been included that excludes certain expenses. The non-GAAP financial measures are provided in an effort to give information that investors may deem relevant to the company's operations and comparative performance; primarily the identification and exclusion of expenses associated with stock-based compensation required under SFAS 123R. In addition, the company uses these non-GAAP financial measures for evaluating comparable financial performance against prior periods.

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

CONSOLIDATED STATEMENTS OF OPERATIONS

----------------------------------------------------------------------
                      Three Months Ended         Six Months Ended
                           June 30,                  June 30,
                   ------------------------- -------------------------
                       2007         2006         2007         2006
                   (unaudited)  (unaudited)  (unaudited)  (unaudited)
-------------------------------------------- -------------------------

Net Sales
  Product          $22,198,715  $21,677,819  $43,888,970  $39,221,145
  Services           6,024,779    5,021,466   11,679,384    9,701,235
                   ------------------------- -------------------------
                    28,223,494   26,699,285   55,568,354   48,922,380
                   ------------------------- -------------------------


Cost of goods sold
  Product            9,692,932   10,555,355   19,358,201   19,588,928
  Services           2,929,973    2,529,418    5,903,544    4,897,777
                   ------------------------- -------------------------
                    12,622,905   13,084,773   25,261,745   24,486,705
                   ------------------------- -------------------------

Gross profit        15,600,589   13,614,512   30,306,609   24,435,675
                   ------------------------- -------------------------

Costs and expenses
  Research and
   development       1,804,574    1,857,945    3,606,635    3,291,521
  Selling, general
   and
   administrative    8,759,067    7,622,261   17,231,915   14,187,153
                   ------------------------- -------------------------
                    10,563,641    9,480,206   20,838,550   17,478,674
                   ------------------------- -------------------------

Operating income     5,036,948    4,134,306    9,468,059    6,957,001
                   ------------------------- -------------------------

Other income
 (expense)
  Interest income      610,366      389,683    1,101,659      749,183
  Other                (85,811)     (62,027)    (207,287)    (181,590)
                   ------------------------- -------------------------
                       524,555      327,656      894,372      567,593
                   ------------------------- -------------------------

Income before
 income taxes        5,561,503    4,461,962   10,362,431    7,524,594

Income taxes         1,927,944    1,525,991    3,571,434    2,573,413
                   ------------------------- -------------------------

Net income         $ 3,633,559  $ 2,935,971  $ 6,790,997  $ 4,951,181
                   ========================= =========================

Earnings per
 common share
  Basic            $      0.35  $      0.29  $      0.66  $      0.49
                   ========================= =========================
  Diluted          $      0.34  $      0.28  $      0.64  $      0.48
                   ========================= =========================

Weighted average
 number of common
 shares
 outstanding
  Basic             10,371,397   10,161,391   10,284,246   10,142,479
                   ========================= =========================
  Diluted           10,808,454   10,463,490   10,670,764   10,390,091
                   ========================= =========================

STRATASYS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

----------------------------------------------------------------------
                                             June 30,    December 31,
                                               2007          2006
                                            (unaudited)
----------------------------------------------------------------------

ASSETS

Current assets
  Cash and cash equivalents                $ 14,027,500  $ 12,509,861
  Short-term investments                     27,675,780    21,367,316
  Accounts receivable, less allowance for
   returns and doubtful accounts of
   $1,905,259 in 2007 and $1,265,837 in
   2006                                      27,547,863    25,035,665
  Inventories                                          11,440,688          9,925,217
    Net  investment  in  sales-type  leases                  3,078,467          2,858,054
    Prepaid  expenses                                                        3,145,505          3,368,586
    Deferred  income  taxes                                                  426,524              459,000
                                                                                      ---------------------------
        Total  current  assets                                          87,342,327        75,523,699
                                                                                      ---------------------------

Property  and  equipment,  net                                    24,139,190        20,412,719
                                                                                      ---------------------------

Other  assets
    Intangible  assets,  net                                            5,426,038          4,868,923
    Net  investment  in  sales-type  leases                  3,490,204          3,271,015
    Deferred  income  taxes                                                  915,000              915,000
    Long-term  investments                                            12,883,514        10,747,689
    Other                                                                              2,417,184          2,265,200
                                                                                      ---------------------------
        Total  other  assets                                              25,131,940        22,067,827
                                                                                      ---------------------------

                                                                                      $136,613,457    $118,004,245
                                                                                      ===========================

LIABILITIES  AND  STOCKHOLDERS'  EQUITY

Current  liabilities
    Accounts  payable  and  other  current
      liabilities                                                          $  11,121,778    $  10,335,607
    Unearned  revenues                                                    11,654,389          9,876,719
                                                                                      ---------------------------
        Total  current  liabilities                                22,776,167        20,212,326
                                                                                      ---------------------------


Stockholders'  equity
    Common  stock,  $.01  par  value,  authorized
      15,000,000  shares,  issued  12,747,475
      shares  in  2007  and  12,444,880  shares  in
      2006                                                                                  127,474              124,449
    Capital  in  excess  of  par  value                          84,985,800        75,726,716
    Retained  earnings                                                    48,751,120        41,960,124
    Accumulated  other  comprehensive  loss                  (124,729)          (116,995)
    Less  cost  of  treasury  stock,  2,300,029
      shares  in  2007  and  2006                                    (19,902,375)    (19,902,375)
                                                                                      ---------------------------
        Total  stockholders'  equity                            113,837,290        97,791,919
                                                                                      ---------------------------

                                                                                      $136,613,457    $118,004,245
                                                                                      ===========================
 


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