Stratasys Q2 stabilizes as high-end systems sales bounce back

The additive manufacturing player is still looking for a new CEO and maintains its 2018 outlook.

Stratasys said sales of high-end 3D printing systems bounced back to more normal patterns in the second quarter as its results topped estimates.

The company, which is focused on 3D printing and additive manufacturing, reported a second quarter net loss of $3.6 million, or 8 cents a share, on revenue of $170.2 million, flat with a year ago. Non-GAAP earnings for the second quarter were 15 cents a share.

Wall Street was expecting second quarter non-GAAP earnings of 9 cents a share on revenue of $167 million. The company reiterated its revised outlook for 2018. Stratasys is projecting 2018 revenue between $670 million and $700 million with non-GAAP earnings of 30 cents to 50 cents a share.

Stratasys is looking for a permanent CEO. Elan Jaglom, interim CEO, said the company "saw recovery in high-end system orders in North America and in certain verticals, specifically our customers in government, aerospace, and automotive." In the first quarter, those industries pulled back on orders.

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The company also indicated that it was confident in its roadmap and that its metal additive manufacturing platform should see increased momentum.