3-D Printer Maker Says Won't Dual-list in Tel Aviv

Meanwhile on Wall Street, Stratasys stock fell on low guidance.

Stratasys, the 3-D printer manufacturer forecasted on Tuesday earnings per share between $2.15 and $2.25 for 2014, below the analysts’ consensus, sending its share price down 4.6% in premarket trading on the Nasdaq. By late afternoon Israel time, the share price was down 12% to $118.

In its guidance to investors, Stratasys said it expected non-GAAP profits of $113 million to $119 million. Revenue for the fiscal year ending December 31, 2014 was forecasted to be between $660 million and $680 million, a 35%-45% increase over its revenue guidance for fiscal 2013 of $470-$490 million. The company said that it expected 25% sales growth in 2014, not including sales from consumer 3-D printer manufacturer MakerBot, which it acquired in August in a stock deal valued at $403 million.

CEO David Reis said that the company expected to continue its strong growth this year. “The marketplace for 3D printing and additive manufacturing solutions continues to develop very rapidly,” he said. “In addition to actively evaluating new acquisitions, we will continue to invest aggressively in sales, marketing and R&D initiatives in 2014 to better capitalize on these opportunities and drive future growth.”

In other company news, CFO Erez Simha said that despite rumors that Stratasys was considering listing on the Tel Aviv Stock Exchange, such a move was not on the agenda. He added that the company was not expecting to raise more capital in the near future. Stratasys, which has a market value of $6.3 billion, would easily enter the TA-25 index if it were listed on the TASE.

Reuters