3D Systems Corp (DDD): Sell on the news?

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Thursday, 07/26/2012 10:46:03 AM

Thursday, July 26, 2012 10:46:03 AM

Sell on the news?

- Record Quarterly Revenue, Units and Gross Profit Margin
- Continued Strong Demand and Expanding Backlog

3D Systems Corporation (NYSE:DDD) announced today non-GAAP adjusted earnings of 27 cents per share for the second quarter of 2012 and GAAP earnings of 16 cents per share.
Revenue increased 52% to $83.6 million over the second quarter of 2011 on 20% organic growth. The company reported growth from all its revenue categories, led by a 112% increase in its printer units sold. Backlog increased 28% sequentially to $12.3 million at the end of the quarter on continued strong demand for its printers, materials and on-demand parts services.
For the second quarter, gross profit grew 71% on higher revenue and gross profit margin expansion of 570 basis points to 51.4% over the 2011 quarter, driven by significant on-demand parts services and printers gross profit margin improvement.