Stratasys Ltd. today announced record third quarter financial results.
Total revenue for the third quarter of 2014 was $204 million, which included a 35% increase organically when compared to the same period last year and a 62% increase when including revenue from acquisitions.
Revenue from MakerBot branded products and services increased by over 80% when compared to the pro forma revenue that MakerBot generated during the third quarter of 2013. MakerBot product and service revenue is calculated as organic revenue beginning on August 15, 2014.
Non-GAAP net income for the third quarter increased by 50% over the same period last year to $30.1 million, or $0.58 per diluted share. GAAP net loss for the period was $31.3 million, or ($0.62) per basic share.
During the third quarter, Stratasys closed the acquisitions of Solid Concepts and Harvest Technologies, creating a leading additive manufacturing services platform that will support the company's expansion into end-use-parts production, and the introduction of applications within targeted vertical markets.
The company also announced and closed the acquisition of GrabCAD, a leading cloud-based platform for 3D CAD users that provides tools to facilitate 3D design collaboration, and has the potential to improve access to the company's 3D printing products and services.
Additionally, Stratasys established MakerBot Europe by acquiring MakerBot's German distributor, HAFNER'S BÜRO. MakerBot Europe will manage existing resellers as well as expand the company's reach and develop additional strategic partnerships in the European market.
The company adjusted its financial guidance for fiscal 2014 to account for the recent acquisition of GrabCAD, with the expectation that ongoing development costs, as previously disclosed, are expected to negatively impact the fourth quarter by $0.03 to $0.05 per share. Non-GAAP net income guidance was adjusted to $2.21 - $2.31 per diluted share; versus previous guidance of $2.25 - $2.35 per diluted share.
To view an unabridged version of this press release, visit: http://investors.stratasys.com/releasedetail.cfm?ReleaseID=880545
