Published on August 11th, 2016 | by Geetika Bhasin
Stratasys Gears Up and Improves its Revenues from the Last Quarters
Piper Jaffray, a research financial firm recently downgraded Stratasys from “Overweight” to “Neutral” owing to the slowdown in the industry. This has significantly lowered the 2016 and 2017 revenue and EPS (earnings per share) statistics for the Minneapolis-headquartered company. Today, Stratasys has to some extent bounced back again by posting better-than-expected EPS of $0.12, and a Q2 revenue of $172.1 million and a GAAP (generally accepted accounting principles) loss of $18.5 million compared to %22. 9 million in Q2-2015.
Ilan Levin, the Chief Executive Officer of Stratasys said that in comparison to the first quarter, the margins were better and there was a huge increase in non-GAAP operating profit. This improvement was due to the increase in sales of their higher-end systems, which includes the new J750, the industry’s most advanced multi-material, full-color 3D printer, as well as the company’s efforts to improve operations, and reduce the costs.
Some of the other developments that recently took place in the company are appointment of CEO Ilan Levin, who replaced David Reis on July 1; the announcement of a new services and consulting branch ; the announcement of the new GrabCAD Print 3D printing workflow application; and the inclusion of several manufacturing-focused reforms for its Fortus series of FDM 3D printers. Levin has stated that the technological platforms and customer grasp of Stratasys are unmatched and this motivated the investors to keep investing in the company.
He further mentioned that over the past four years, since the merger of Stratasys and Objet, their organization had undergone a major reform. They were moving their way up to make the company a world leader in additive manufacturing. This process required significant investments in time and utilization of all the resources. Their priority would be to increase the operational efficiency and financial performance as they continue to execute their plans.