Additive manufacturing company Stratasys said its strategy to target vertical markets is starting to pay off as its installed base buys more consumables for 3D printing.
The company reported an in-line fiscal first quarter with a net loss of $13.9 million, or 26 cents a share, on revenue of $163.2 million, down from $167.9 million a year ago. Non-GAAP earnings for the first quarter were 5 cents a share.
Stratasys earnings met Wall Street estimates with sales slightly above.
As for the outlook, Stratasys reiterated its 2017 projections for revenue of $645 million to $680 million with non-GAAP earnings of 19 cents a share to 37 cents a share.
Stratasys demos 3D printing, additive manufacturing systems that take cues from data center
CEO Ilan Levin said the company was "encouraged" by its results in certain industries. Stratasys has been showcasing a bevy of key technologies and industry partnerships with the likes of McLaren Racing, Ford and Siemens Mobility.
The company also just highlighted a new platform to use architecture similar to data centers to mass produce custom parts. The demonstrator platform isn't a product yet.
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