Stratasys delivered fourth quarter results in line with expectations and said business was improving, but cut its outlook for 2017.
The 3D printing company said 2017 revenue will be between $645 million and $680 million with non-GAAP earnings of 19 cents a share to 37 cents a share. The net loss for 2017 will be between $39 million to $53 million.
Wall Street was looking for non-GAAP earnings of 49 cents a share on revenue of $692.9 million.
Stratasys said that it will continue to invest in building out industry use cases and "high-value added applications" in 2017.
3D printing and additive manufacturing companies have had a rough time in recent quarters. 3D Systems along with Stratasys have delivered rocky results relative to expectations. Stratasys has stabilized revenue and posted slight gains in the fourth quarter.
Stratasys CEO Ilan Levin said:
Our industry is continually maturing, and moving beyond general purpose design and engineering rapid prototyping into use-cases that target specific high value-added applications within key industry segments, ranging from advanced prototyping, through to production tooling and production part manufacturing applications.
Today, we are reallocating resources from a general purpose, "one size fits all" development strategy, and further emphasizing key customer engagements, with development projects closely associated with their needs.
Here's a look at some of the vertical cases Stratasys is developing:
For the fourth quarter, Stratasys had fourth quarter non-GAAP earnings of $7.8 million, or 15 cents a share, on revenue of $175.3 million, up from $173.4 million a year ago. The net loss for the fourth quarter was $14.8 million, or 30 cents a share.
Stratasys had a net loss of $77.2 million, or $1.48 a share, on revenue of $672.5 million in 2016.