UPDATE 1-3D Systems profit misses estimates as expenses soar
* Second-quarter adjusted earnings $0.20/share vs est $0.24
* Revenue $120.8 mln vs est $114.5 mln
* Shares of 3D Systems, rivals fall premarket
July 30 (Reuters) - 3D Systems Corp, a maker of 3D printers, reported a lower-than-expected quarterly profit as a 58 percent jump in operating expenses offset a doubling in revenue from printers and printed parts.
Shares of the company were down 6 percent in premarket trading.
3D Systems said it nearly doubled its R&D spending, raised its marketing spending and increased its manufacturing capacity in the second quarter to meet rising demand for its products and services.
Analysts have flagged concerns that the company may be investing more in its software and consumer products at the expense of its industrial printing technologies.
3D Systems has said it expects a material revenue contribution from its consumer business, which includes its Cube printer, from the second half of the year. The company does not break out revenue from its printer business.
Revenue from 3D printers and other products more than doubled to $54.2 million in the quarter, primarily on higher sales of its professional printer units.
Net income rose to $9.3 million, or 10 cents per share, in the second quarter, from $8.3 million, or 11 cents per share, a year earlier.
Earnings per share fell in the latest quarter as the number of shares outstanding increased following a public offering in May.
Excluding items, the company earned 20 cents per share.
Revenue jumped 45 percent to $120.8 million.
Analysts on average had expected earnings of 24 cents per share on revenue of $114.5 million, according to Thomson Reuters I/B/E/S.
Rock Hill, South Carolina-based 3D Systems' shares were trading at $47.50 before the bell. They closed at $50.52 on the New York Stock Exchange on Monday. The shares have more than doubled in the last year.
Shares of rivals Stratasys Ltd and ExOne Co were also down in premarket trading.