Wall Street (by Agamitsudo via Wikimedia Commons)
Wall Street
Fresh results from Stratasys have boosted the company’s shares on the NASDAQ.Stratasys (NASDAQ: SSYS) has reported its first post-merger fiscal figures both for the fourth quarter and the full 2012 financial year - and the results are strong.
The October-December period was the first for the company with both Stratasys Inc and Objet Ltd's combined data following the completion of their deal on December 1st.
"We are very pleased with our first financial results as a combined company," commented chief executive officer at Stratasys David Reis.
The organisation reported revenue of $96.4 million (£63.6 million, €73.75 million) for the final three months of last year, representing a 23 per cent increase over the $78.3 million recorded over the same timeframe the previous year.
And for the full year, revenue rose by 30 per cent to $359 million with non-GAAP (generally accepted accounting principals) net income of $59.6 million or $1.49 per share. Non-GAAP gross margins also improved to 58 per cent from the 56.5 per cent reported in 2011.
After the results were released yesterday (March 4th), Stratasys shares rallied on the technology-heavy NASDAQ, closing up by more than seven per cent to $68.82 per unit.
Stratasys spent a net amount of $33.3 million - or 9.3 per cent of its 2012 revenue - on research and development (R&D) on a pro forma non- GAAP basis and $36.9 million on a pro forma GAAP basis.
And into 2013, the company intends to continue its significant investment into R&D, concentrating on further developing its proprietary 3D printing technologies and developing new systems and materials in order to broaden its product offerings.
For 2013, the company sees revenue of $430 million to $445 million and non-GAAP profits of $1.80 to $1.95 per unit share, when the previous consensus was $421 million and $1.86 per share.
Moreover, for 2012, Stratasys reported revenue of $359 million and non-GAAP profits of $1.49 per share.
Mr Reis stated: "Our results and strong year-end backlog are made more impressive when you consider the significant amount of resources committed during the period to complete our game-changing merger.
"We believe that we have only begun to recognise the potential within our industry and we are excited about 2013 in view of the merger and the many new opportunities we see developing this year and beyond."
