Stratasys Q1 above target as company works to control expenses

Interim CEO Elan Jaglom said the company was encouraged by Stratasys' performance in North America.

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Additive manufacturing company Stratasys published first quarter financial results on Thursday before the opening bell. The company reported a first quarter net loss of $2.3 million, or 4 cents a share, on revenue of $155.3 million, down from $163.2 million a year ago. Non-GAAP earnings for the first quarter were 10 cents a share.

Wall Street was expecting the company to report earnings of 6 cents per share on revenue of $152.8 million. 

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As for the outlook, Stratasys projects fiscal 2019 revenue of $670 million to $700 million with non-GAAP earnings of 55 cents a share to 70 cents a share.

In prepared remarks, Interim CEO Elan Jaglom said the company was encouraged by Stratasys' performance in North America and noted that the company is executing on its strategy to control expenses. 

'Our recent new product introductions are generating significant interest from our customers and expanding our addressable markets, and we look forward to additional announcements as we move through 2019 and into 2020," he added.

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