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[MiamiGent]

SSYS Stock Move: Stratasys Drops to 3-Yr Year Low After Warning of Q1 and FY Shortfall; Cuts CapEx Plans

BY Midnight Trader — 11:34 AM ET 04/29/2015

http://stockcharts.com/h-sc/ui?s=SSYS


Stratasys (SSYS) shares fell to their lowest level in three years on Wednesday after warning of a Q1 and FY shortfall.

Recently SSYS was down 19% at $41.25, having earlier traded as low as $41.03, on heavy volume of 6.3 million shares. Average daily volume is 1.5 million shares.

Late Tuesday the manufacturing company said expects Q1 sales between $171 million to $173 million, below the Capital IQ estimate for $199.35 million. Non-GAAP EPS were $0.02 to $0.04, missing forecasts for $0.29. Its also reducing 2015 capital expenditures plans to $80 million to $110 million.

It has re-examined the long term operating plan of the MakerBot reporting unit, and expects to recognize an additional non-cash impairment charge of approximately $150 million to $200 million in Q1.

For the FY, it now sees sales between $800 million to $860 million, with non-GAAP net income in the range of $63 million to $90 million, or $1.20 to $1.70 per diluted share. Estimates are for sales of $944.14 million and EPS of $2.11.

Price: 41.36, Change: -9.94, Percent Change: -19.37