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3D Systems withdraws full-year outlook, shares down 16 percent
October 31, 2017 / 8:36 PM / 20 days ago

3D Systems withdraws full-year outlook, shares down 16 percent

(Reuters) - 3D Systems Corp (DDD.N) on Tuesday withdrew its full-year outlook after reporting quarterly adjusted loss compared with analysts’ expectation of a profit, hurt by softer sales of its printers in the Americas and Asia Pacific regions.

Shares of the company fell 16.4 percent to $10.35 in after-market trading.

“Predictability has been difficult in this environment, and therefore, management believes it is prudent to withdraw guidance at this time,” the 3D printer maker said in a statement.

The company had in the last quarter affirmed its full-year adjusted profit of 51 cents to 55 cents per share on revenue of between $643 million and $684 million.

Net loss attributable to the company widened to $37.7 million, or 34 cents per share, in the third quarter ended Sept. 30, from $21.2 million, or 19 cents per share, a year earlier.

Revenue fell 2.3 percent to $152.9 million.

Excluding items, the company lost 20 cents per share. Analysts on average had expected a profit of 12 cents per share, on revenue of $162.9 million, according to Thomson Reuters I/B/E/S.

Reporting by Supantha Mukherjee and Sonam Rai in Bengaluru; Editing by Arun Koyyur

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