UPDATE: 3D Systems (DDD) Misses Q3 EPS by 7c; Will Take Steps to Cut Cost Structure
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3D Systems (NYSE: DDD) reported Q3 EPS of $0.01, $0.07 worse than the analyst estimate of $0.08. Revenue was $151.6 million, versus the consensus estimate of $181.1 million.
"We are disappointed with our overall results and the lower revenue from our 3D printing products and services, which we believe were negatively impacted by continued challenging market conditions that extended customers' capital investment cycles and reduced demand across all geographies," commented Andrew Johnson, Interim President & Chief Executive Officer and Chief Legal Officer, 3D Systems. "However, we are pleased that our 3D healthcare simulators and services and 3D software contributed favorably to our results."
"As we navigate challenging market conditions, we are taking decisive steps to reduce our cost structure and better prioritize our resources around near-term opportunities while continuing investments in quality initiatives, partner-centric programs and new products," concluded Johnson.
For earnings history and earnings-related data on 3D Systems (DDD) click here.
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