Earnings news is coming fast and furious this week. This morning, 3D Systems announced that Q4 revenue was up 52% to $155 million, on 34% overall organic growth. But, as preannounced a couple of weeks ago, the product mix was not as anticipated, leading to lower than expected profits for the quarter.
For the full year, revenue was up 45% to $513 million, on 29% organic growth.
CEO Avi Reichental said in prepared remarks that “[c]ompared to our late quarter expectations, we are disappointed that our stronger order book didn’t convert to higher revenue, but instead, resulted in a near doubling of last quarter’s backlog. Despite our higher growth, certain revenue categories fell short of our expectations and the concentration of new product announcements deferred sales and suppressed expected gross profit margin for the quarter.”
Mr. Reichental stuck to his revenue goals, saying that the company plans to “double our revenue over the next couple of years”. For 2014, that translates to expected revenue in the range of $680 million to $720 million.
Lots more after the earnings call.
