3D Systems misses Q1 profit targets
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3D Systems on Wednesday published mixed first quarter financial results, with its EPS coming in below market expectations.
The company reported a non-GAAP earnings loss of 3 cents per share on revenue of $165.9 million. A year prior, it reported non-GAAP earnings of 6 cents per share on revenue of $156.4 million.
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Wall Street was looking for non-GAAP earnings of a penny per share on revenue of $159.6 million.
In a statement, CEO Vyomesh Joshi said revenue growth was driven by printers, on demand manufacturing, health care, and software.
"While we still have work to do, we believe our investments in go-to-market, process improvements and better execution worldwide are starting to show returns," Joshi said.
"We believe 2018 is a corner turn year in our multi-year turnaround and transformation process. We are focused on execution, operational efficiency and bringing our new solutions to market to drive long-term growth and profitability."
Shares of 3D Systems dropped more than 2 percent in after market trading.