Stratasys shares fall on weak 2014 profit outlook
(Associated Press Via Acquire Media NewsEdge) MINNEAPOLIS (AP) — Shares of Stratasys Ltd. tumbled before Tuesday's opening bell after the three-dimensional printer maker issued a lower-than-expected 2014 profit prediction.
For the year ending Dec. 31, 2014, Stratasys said it expects to post and adjusted profit of $2.15 to $2.25 per share, while analysts polled by FactSet expect earnings of $2.37 per share.
The company also projected revenue of $660 million to $680 million, while analysts expect $660.5 million.
Organic sales, which exclude sales related to the MakerBot business the company acquired in August, are expected to grow about 25 percent compared with the previous year. The company said it expects MakerBot sales to grow at a higher rate.
In premarket trading, Stratasys shares fell $5.66, or 4.4 percent, to $124.34.
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