by • May 8, 2016 • No Comments
Amidst all the euphoria and of magical energy surrounding 3D printing not long ago, there was bound to be a fall a fewwhere; and while indeed there has been in terms of financial reports being issued by 3D printing industry titans over at very least the past year, this is confusing to most. As one advancement after another is churned out, and revolutions are proclaimed to be taking place in only of each sector of medical to car to fashion—and far beyond—why do the largest companies seem to be faltering while so most other extra
compact, frequently international ones, are dancing with delight over financials?
We must go on to ask that question actually as we do see a few light ahead in viewing initially quarter 2016 financial outcomes for the mega-manufacturer of 3D printing solutions, Stratasys, headquartered in Minneapolis, Minnesota and Rehovot, Israel. Whilst Non-GAAP net income for the initially quarter was $0.6 million, or $0.01 per diluted share, compared to non-GAAP net income of $2.0 million, or $0.04 per diluted share, reported for the same period last year, the powers that be at Stratasys recommend viewing their progress in terms of operating profit growth, as that is what they project as offering the most performance measurement for this year.
Q1-2016 Financial Results Summary:
Ractuallyue for the initially quarter of 2016 was $167.9 million.GAAP operating loss for the initially quarter was $21.1 million, compared to a loss of $220.9 million for the same period last year.Non-GAAP operating income was $4.0 million, compared to a loss of $0.8 million for the same period last year.GAAP net loss for the initially quarter was $23.1 million, or ($0.44) per diluted share, compared to a loss of $216.3 million, or ($4.24) per diluted share, for the same period last year.Non-GAAP net income for the initially quarter was $0.6 million, or $0.01 per diluted share, compared to non-GAAP net income of $2.0 million, or $0.04 per diluted share, reported for the same period last year.The Company produced $31.6 million in cash of operations during the initially quarter, and already holds of $280.2 million in cash and cash equivalents and short-term bank deposits.The Company invested a net amount of $22.8 million in R&D projects (non-GAAP basis) during the initially quarter, representing 13.6% of net sales.Non-GAAP EBITDA for the initially quarter amounted to $12.6 million.The Company sold 5,125 3D printing and additive manufacturing systems during the quarter, and on a pro-forma combined basis, has sold a total of 151,149 systems of the world as of March 31, 2016.
“Although the overall market environment remains challenging, we turn it intod worthwhile progress in improving our operating efficiency during the initially quarter, that is demonstrated by the affirmatory trends we observed in operating expenses and cash generation during the period,” said David Reis, chief executive officer of Stratasys. “We believe the new refinements to our operating structure can manufacture us extra
productive and advantageous position us for next growth.”
There has been excellent positive excitement around the release of the Stratasys J750 3D printer, for that 3DPrint.com was in attendance at the OtterBox headquarters in Fort Collins, Colorado. This should go on to be a primary boon for business as it allows for users so most extra
options with full-color and multi-material capabilities. Seeing this as another reinvention for 3D printing, the J750 3D printing device is the one that is quite intended to do it all for streamlining workflow, offering much advantageous speed and turnaround, and doubling capabilities while offering a color palette of over 360,000 colors.
Continued operational improvement initiatives have been underway, and as we reported not long ago, this comes with outsourcing of MakerBot computer desktop 3D printing device production to Jabil.
We’ve in addition been next the new Thingiverse Developer Program, that has only not long ago been commenceed, growing the platform’s functionality by enabling createers to turn it into apps in three various categories: print services, version customization and tools and utilities. It in addition comes with comes with documentation, resources, and enrollment for createers and gives guide for createers regarding creating Thingiverse apps, submitting apps to MakerBot, as well as testing and managing apps and analytics.
In addition manufacturing headlines was the revealed agreement between Stratasys Direct Manufacturing (SDM) and Somos, a major stereolithography materials provider, through that both parties can seek to accelerate materials createment and provide SDM customers with a wider range of high end material options. And in another createment that we are next closely, Stratasys too revealed the impending creation of a Center of Excellence in collaboration with the Jacobs Institute. Both companies can bring their considerable years of expertise together, along with 3D printing, to create and test prototypes and versions for the 3D printed medical devices of the next.
“As we alter our business, we are focused on investing for the next, that comes with createing new technologies and new new products. The new commence of the Stratasys J750, that offers unmatched color and multi-material printing capabilities, is a excellent example of that commitment,” go ond Reis. “We are in addition excited of extra
products we plan to commence in 2016. These products can assist our long-term strategy to create a comprehensive solutions-based business that targets new applications across key vertical markets. Whilst our near-term visibility remains low, we believe our strategy and improved operating structure can position us for next good outcomes in our dynamic industry.”
Stratasys provided the next information regarding the company’s projected ractuallyue and net income for the fiscal year ending December 31, 2016:
Ractuallyue guidance of $700 to $730 millionNon-GAAP net income of $9 to $23 million, or $0.17 to $0.43 per diluted shareGAAP net loss of $84.0 to $67.0 million, or ($1.60) to ($1.28) per diluted share
Stratasys provided the next extra
information regarding the company’s future performance and strategic plans for 2016:
Gross margins to improve modestly to a range of 54% to 55%Operating margins of 3% to 5%Tax expense of $10 to $11 million, that comes with the negative impact of the planned accounting treatment for tax valuation allowanceCapital expenditures are projected at $60 to $70 million, with of $45 million designated for completing the company’s new facility in Israel
Stratasys foresees an improvement in 2016 regarding their operating structure that can outcome in advantageous operating profits this year. They recommend looking at those numbers, thinking the ‘expected ongoing negative impact on net income of the planned accounting treatment for valuation of deferred tax assets.’ In addition according to Stratasys, Non-GAAP earnings guidance excludes $59.0 million of projected amortization of intangible assets; $25.0 to $27.0 million of share-based compensation expense; $7.0 million in merger and acquisition related expense; $4.0 to $5.0 million in reorganization and other related costs; and comes with $5.0 million in tax expenses related to non-GAAP adonlyments.
See the table at a lower place for an itemized more detail of the non-GAAP financial measures.
The company held a conference call and live webcast in regards to these financial outcomes earlier in modern times, May 9th, and the webcast can be on the market at Stratasys for 90 days. To acquire access, click here. Discuss in the Stratasys First Quarter Report forum over at 3DPB.com.
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousands shares; 52,107 thousands shares and 52,082 thousands shares issued and impressive at March 31, 2016 and December 31, 2015, respectively
141141Additional paid-in capital2,611,6122,605,957Accumulated deficit(1,429,847)(1,406,706)Accumulated other comprehensive loss(6,502)(10,774)Equity attributable to Stratasys Ltd.1,175,4041,188,618Non-controlling interest251183Total equity1,175,6551,188,801Total liabilities and equity$1,412,801$1,414,356
The Company considers these non-GAAP measures to be indicative of its core operating outcomes and facilitates a comparison of operating outcomes across reporting periods. The Company uses these non-GAAP measures when evaluating its financial outcomes as well as for internal planning and forecasting purposes, yet these measures should not be saw as a substitute for the Company’s GAAP outcomes.
* Refer to the “Reconciliation of Non-GAAP Adonlyments” herein for additional information regarding adonlyments.
Stock-based compensation expense$25 to $27Intangible assets amortization expense$59Merger and acquisition related expense$7Reorganization and other related costs$4 to $5Tax expense related to Non-GAAP adonlyments($5)Non-GAAP net income$9 to $23GAAP loss per share($1.60) to ($1.28)Non-GAAP diluted earnings per share$0.17 to $0.43
[Source: Business Wire]
by admin • March 5, 2017
by admin • November 28, 2016
by admin • November 28, 2016