LONDON, March 26, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free post-earnings research on 3D Systems Corp. (NYSE: DDD). On February 26, 2015, the company reported its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=3D%20Systems&d=26-Mar-2015&s=DDD to read our free earnings review on 3D Systems Corporation (3D Systems). The company's total revenue surged 21% Y-o-Y in Q4 FY14 and 27% Y-o-Y in FY14. President and CEO at 3D Systems, Avi Reichental, stated that as expected, higher spending levels in support of the company's expansion plans pressured its earnings throughout 2014, as 3D Systems fast-tracked assembly of the talent, assets and infrastructure required to take its business to the next level. Having completed this investment phase, the company expects to recover its operating leverage and expand its profitability throughout 2015, he concluded. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=3D%20Systems&d=26-Mar-2015&s=DDD
Earnings Overview
During Q4 FY14, 3D Systems' total revenue rose to a record $187.44 million from $154.82 million in Q4 FY13, despite significant foreign currency headwinds that reduced total revenue by some $6 million. The company's Q4 FY14 total revenue missed Bloomberg analysts' forecast of $202.37 million. In Q4 FY14, 3D Systems' Products revenue increased to $129.09 million from $111.10 million in Q4 FY13. Furthermore, the company's Services revenue improved to $58.34 million in Q4 FY14 from $43.72 million in Q4 FY13. Free research on DDD can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=3D%20Systems&d=26-Mar-2015&s=DDD
Mr. Reichental said that the company is disappointed that it was not able to fully capitalize on the strength of its portfolio in all geographies equally, but is very pleased with the impressive growth rate that EMEA channel delivered in the face of adverse foreign currency rates. He stated that the company is taking decisive steps to improve the productivity and coverage of its North American and APAC channels to the level of EMEA region.
In Q4 FY14, GAAP net income attributable to 3D Systems was $1.55 million, or $0.01 per share, compared to $11.22 million, or $0.11 per share, in Q4 FY13. Bloomberg analysts estimated Q4 FY14 GAAP net income attributable to 3D Systems of $13.58 million, or $0.11 per share. Moreover, the company's non-GAAP net income came in at $23.76 million, or $0.21 per share, in Q4 FY14 compared to $19.72 million, or $0.19 per share, in Q4 FY13.
For FY14, 3D Systems reported record total revenue of $653.65 million compared to $513.40 million in FY13. The company's FY14 total revenue missed Bloomberg analysts' forecast of $669.64 million. 3D Systems' Products revenue increased to $442.20 million in FY14 from $356.03 million in FY13. Additionally, the company's Services revenue improved to $211.45 million in FY14 from $157.37 million in FY13. Sign up and read the free analyst's notes on DDD at:
http://get.Investor-Edge.com/pdf/?c=3D%20Systems&d=26-Mar-2015&s=DDD
During FY14, GAAP net income attributable to 3D Systems was $11.64 million, or $0.11 per share, compared to $44.11 million, or $0.45 per share, in FY13. Bloomberg analysts estimated GAAP net income attributable to 3D Systems of $23.65 million, or $0.21 per share, in FY14. In addition, the company's non-GAAP net income stood at $75.12 million, or $0.70 per share, in FY14 compared to $83.74 million, or $0.85 per share, in FY13.
3D Systems generated net cash flows from operations of $51.11 million in FY14 compared to 25.18 million in FY13. As of December 31, 2014, the company had $284.86 million of cash and cash equivalents versus $306.32 million as of December 31, 2013.
In its FY15 outlook, 3D Systems' management anticipates ongoing foreign currency headwinds well into H2 FY15. It expects FY15 revenue to be in the range of $850 million to $900 million, with a greater percentage of revenue generated during the second half. Furthermore, GAAP earnings per share (EPS) in expected to be between $0.35 to $0.45 and non-GAAP EPS to be in the range of $0.90 to $1.10. Visit Investor-Edge and access the latest research on DDD at:
http://get.Investor-Edge.com/pdf/?c=3D%20Systems&d=26-Mar-2015&s=DDD
Stock Performance
On the day of the earnings release, February 26, 2015, 3D Systems' stock edged 0.13% higher to end the session at $30.06. Since then, the stock has moved both ways. On the last close, Wednesday, March 25, 2015, the company's shares finished 1.35% lower at $27.81, after vacillating between $27.52 and $28.30. A total of 1.33 million shares were traded which was below their three months average volume of 2.84 million shares. Over the previous three trading sessions, the company's shares have advanced 0.72%. However, the stock has lost 7.36% over the last one month and 8.94% in the past three months. Shares in 3D Systems are trading below their 50-day and 200-day moving averages of $29.38 and $40.82, respectively. Additionally, the stock traded at a PE ratio of 170.27 and has a Relative Strength Index (RSI) of 46.50.
Sneak Peek to Corporate Insider Trading
In the last one month, 3D Systems has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on DDD is available at:
http://get.Investor-Edge.com/pdf/?c=3D%20Systems&d=26-Mar-2015&s=DDD
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