SOUTH CAROLINA: 3D Systems Corporation shares are down over 4% in the pre-market trading session, after the company announced financial results for third quarter FY15. 3D Systems managed to report weaker-than-expected results, missing Street’s estimates.
The maker of 3D Systems reported adjusted earnings per share of $0.061, that came behind the consensus estimates of $0.075. Furthermore, revenues clocked in at $151.5 million, declining over 9%, compared to the same quarter last year, and missing its earnings estimates of $181.2 million.
Andrew Johnson, chief executive officer at 3D Systems, commented on the company’s lackluster performance for the quarter stating: “We are disappointed with our overall results and the lower revenue from our 3D printing products and services, which we believe were negatively impacted by continued challenging market conditions that extended customers’ capital investment cycles and reduced demand across all geographies.”
Furthermore, the gross margins slipped over 90 bps for the quarter, primarily because of the negative impact of consumer price. 3D Systems shares are trading down 3.35% at $10.10 in the pre-market trading session, falling 68% since the start of FY15.
