Quickies: CENIT and Stratasys

Did you think earnings season is over? Nope. Not yet. This week we’ll hear from Rand, Autodesk and Cimatron on their most recent quarters. But first, a bit of catch-up from last week, when I was at Siemens PLM World. CENIT says its start to 2012 was better than expected and Stratasys gave an update on its purchase of Object. CENIT off to a strong start CENIT had guided to a relatively modest growth of 4% to 5% for 2012 because of an economic slowdown forecast for many of its end-markets, but Q1 turned out better than expected in both its PLM and enterprise information management (EIM) segments. Total revenue in Q1 was €29 million, up 20%. Its PLM segment reported revenue of €21 million, up 23%, while the EIM segment grew 13% to just under €8 million. CENIT acts as a VAR for Dassault Systèmes and IBM; revenue from this “non-proprietary software” was €13 million, an increase of 44%. Despite all of this positive news from Q1, and a23% increase in incoming orders during Q1, CENIT “adheres to its annual outlook for 2012. The forecast shall be reviewed after the end of the 2nd Quarter.” Stratasys aggressive in mid-market Stratasys reported revenue for Q1 of $45 million, up 30% from a year ago, and raised its 2012 revenue range guidance to between $183 million and $193 million, up from $175 million to $190 million. Scott Crump, CEO, said that the company’s primary growth drivers were a 30% increase in revenue from consumables (ie. printer supplies) and Fortus 3D production system sales, which were up 61%. Mr. Crump said “This growth continues to be driven by the expanding use of our systems for new direct digital manufacturing applications and their relatively higher consumable usage patterns.” Stratasys also announced a new, low-cost entry into the market, the Mojo 3D printer, priced at $9,500. Mr. Crump believes that the Mojo 3D “represents the first commercially-viable whole product 3D printer available for under $10,000. It is small enough to fit on a desktop and comes with everything the commercial user needs to begin printing models, including an innovative new support removal system and start-up materials.” He sees this as breaking down barriers and capture customers who previously though 3D printing was out of their reach in terms of needed expertise and price. Regarding the acquisition of Objet, Mr. Crump said that it is still on plan for a Q3 close, adding that “our game-changing proposed combination with Objet will define the future of Stratasys and position the company to be a leader within a market that has only begun to develop.” The guidance issued last week does not include revenue from Objet.