3D Systems Corp (NYSE:DDD) shares down by 4.67%


Dallas, Texas 07/31/2013 (Financialstrend) – 3D Systems Corp (NYSE:DDD) fell below the expectation of its quarterly results, when comparing with revenue growth of 60% recorded last year  3D Systems this year reported only 11% growth in its Revenue from the high-margin print materials, gross profit increased to 51.8 percent from 51.4 percent of last year but the basis points now is 40 where last year it was 570, the company decreased its earnings forecast  for this year to $1.05 to $1.20 per share on revenue of $460 million to $510 million, analysts commented that the fall  is due to slowing growth in its gross margin. However the revenue generated from the sales of 3D printers and other related products had been reported to have more than doubled to $54.2 million due to sales of professional printer units.

Paul Coster, analyst at JP Morgan commented in a note “The expected leverage from higher sales of professional printer units is not being articulated in the business model, which is suspicious regarding usage rates on new machines”. Capital Markets analyst Holden Lewis said “investors are thinking that this mix is to favour machines over materials, it is difficult to imagine getting guidance as gross margin increase”

3D Systems Corp (NYSE:DDD) had closed for the day on Tuesday with $48.16 per share with a bearish behavior of 4.67% over the previous day’s closing price. The intraday movements of the stock were between low values of $45.20 to a high value of $50.00 per share. The yearly stock price variations are between the lower values of $21.57 to a higher value of $51.94 per share. The shares held by the investors and the company insider’s account to 92.21 million with an institutional ownership of 63%. The total stock value of the company in the stock market is $4.47 billion. The trading trend of the company for its latest trading day was 12.09 million shares compared to the average trading volume over the month of 3.50 million shares.