3D printing and additive manufacturing company Stratasys said today that its first-quarter revenue was down 3% year-over-year, to $163.2 million – even as consumable revenue increased 7%.
Losses narrowed to $13.9 million, or 26 cents per share, from a loss of $23.1 million, or 44 cents per share a year before.
Stratasys officials, however, think results under generally accepted accounting principles (GAAP) are not the best way to follow company performance, due to the ongoing negative impact of the company not recording a tax benefit on U.S. tax losses on non-GAAP net income. The company on a non-GAAP basis saw profits of $2.4 million, or 5 cents per share, for the quarter ended March 31 – up from net income of $600,000, or 1 cent per share, for the same quarter in 2016.
The non-GAAP profits and revenue fell in line with the predictions of analysts polled on Yahoo! Finance. Stratasys also stayed with analysts’ expectations with its reiteration of its full-year guidance of $645 to $680 million in revenue and non-GAAP profits of $10 to $20 million, or 19 to 37 cents per share.
Stratasys stock was down about 3.5%, to nearly $29 per share, in late morning trading today.
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