3D Systems Corporation (NYSE: DDD)
3D Systems Corporation, reported their third-quarter earnings after the market closed on Tuesday October 31, 2017. And given the fact that it fell on Halloween, shares reacted like it was a horror movie for the company.
The company, which manufactures, designs, and sells 3D printers, is attributing much of the poor report to the fact that they did a reorganization and changed many aspects of the corporate leadership.
Because of this the company has chosen to not give guidance for their upcoming quarterly earnings. Their products are used in many different Industries including the healthcare industry, the entertainment industry the automotive industry and the Aerospace industry.
The company reported revenue of $153 million dollars and this Compares with revenue of 156 billion dollars in the same period a year ago. The Gaap numbers came in at losing $0.34 per share which compares to a loss of $0.19 per share in the same period a year ago.
Shares have traded in a 52-week range from a high of $23.70 to a low of $11.38. During the regular session shares closed up $0.56 at $12.38. However as of 8 p.m. eastern Daylight Time Shares in the after market session, shares were down 15% closing at $10.51 or down $1.87.
One interesting note is that there is a 26.35% short interest float in the company’s stock. This is the amount of stock, or shares that are sold short- meaning that they are sold before they are actually purchased by traders or speculators. They hope that the market price goes down so that they can rebuy at lower price than they sold.
Vyomesh Joshi (VJ), Chief Executive Officer, 3D Systems had this to say to investors:
“While third quarter results did not meet our expectations, we believe actions taken during the quarter both organizationally and operationally better position the company for long term success.During the quarter, we reorganized the go to market team, changing key leadership positions in both the Americas and the Asia Pacific region while shifting to a worldwide go to market structure. We also completed a deep and comprehensive review of our portfolio based on year to date demand, market trends and a solid understanding of where we meet and will continue to meet customers’ expectations.”
John McMullen, Executive Vice President and Chief Financial Officer added:
“We continued with our strategic investments in IT, go to market, quality, reliability and innovation, which we believe are critical to the company to drive long term growth. While we are reducing expenses where appropriate, we continue to be focused on actions and decisions we believe are necessary to best-position the company for long term success.”
The above price chart shows the monthly price action going back 10 years. It is easy to see how on a monthly basis shares continue to rise reaching a climactic high level in late 2013. Shares have never recovered.
The above price chart shows the daily action on the 5 minute time frame during the intraday on the left and on the right is the aftermarket.
3D Systems Corporation, through its subsidiaries, provides 3D printing products and services worldwide. The companys 3D printers transform data input generated by 3D design software, CAD software, or other 3D design tools into printed parts using a range of print materials, including plastic, nylon, metal, composite, elastomeric, wax, polymeric dental materials, and Class IV bio-compatible materials.
It offers various 3D printing technologies, such as stereolithography, selective laser sintering, direct metal printing, multijet printing, and colorjet printing. The company also develops, blends, and markets various print materials, such as plastic, nylon, metal, composite, elastomeric, wax, polymeric dental materials, and Class IV bio-compatible materials.
It offers its printers under the Accura, DuraForm, LaserForm, CastForm, and VisiJet brand names. In addition, the company provides digital design tools, including software, scanners, and haptic devices, as well as products for product design, mold and die design, 3D scan-to-print, reverse engineering, and production machining and inspection.
Further, it offers proprietary software and drivers that provide part preparation, part placement, support placement, build platform management, and print queue management; and 3D virtual reality simulators and simulator modules for medical applications, as well as digitizing scanners for medical and mechanical applications. Additionally, the company provides warranty, maintenance, and training services; on-demand solutions; and software and healthcare services.
It primarily serves companies and small and midsize businesses in a range of industries, including healthcare, automotive, aerospace, government, defense, technology, electronics, education, consumer goods, and energy. The company sells its products and services through direct sales force, partner channels, and distributors. 3D Systems Corporation was founded in 1986 and is headquartered in Rock Hill, South Carolina.-YahooFinance