Massive Mojo in 3D Systems
With shares up well over 100% year to date, is there any momentum left in 3D Systems?
Investors were trying to figure that out after the company reported quarterly results that showed a decline in profit for the second quarter, due mainly higher operating expenses and tax provisions.
3D Systems second-quarter net profit was $8.32 million or $0.16 per share, compared to $13.37 million or $0.26 per share last year.
Adjusted income for the quarter rose to $13.95 million or $0.27 per share from $9.72 million or $0.19 per share in the prior-year quarter.
On average, seven analysts polled by Thomson Reuters expected the company to earn $0.27 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter surged to $83.61 million from $55.13 million in the prior-year quarter. Six analysts had a consensus revenue estimate of $84.10 million for the quarter.
How should you trade this stock?
Don’t make a move until you check out our exclusive conversation with Abe Reichental, 3D Systems CEO.
Watch the video now!
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CNBC.com with wires