Stratasys veröffentlicht Q4/13 und 2013 Ergebnisse

Stratasys (SSYS) meldet die Ergebnisse für Q4 2013 und die Jahresergebnisse 2013.

Demnach soll im Q4 gegenüber der selben Periode 2012 ein organisches Umsatz Wachstum von 36% und ein Gesamtumsatzwachstum von 62% erreicht worden sein. Der Umsatzanteil von MakerBot betrug im 4. Quartal $24,9 Mio.

Company generates 36% organic revenue growth, and 62% total revenue growth, in the fourth quarter over the fourth quarter of last year, driven by strong demand across all product lines

MakerBot contributes $24.9 million in revenue during the fourth quarter

Strong revenue growth combined with margin expansion drives record quarterly earnings

MINNEAPOLIS & REHOVOT, Israel–(BUSINESS WIRE)– Stratasys Ltd. (NASDAQ:SSYS) today announced record financial results for the fourth quarter and fiscal year 2013.

Driven by the realization of Stratasys-Objet merger synergies and the rapidly expanding market for 3D printing and additive manufacturing solutions, the company observed strong demand across all product lines during the fourth quarter.

Hardware and consumable revenue in the fourth quarter, excluding the revenue contribution made by MakerBot, grew by 38% and 33%, respectively, over the pro forma results for the same quarter last year. Total non-GAAP revenue (excluding MakerBot’s contribution) increased by 36% for the fourth quarter over last year’s pro forma revenue.

MakerBot made a significant contribution of $24.9 million to fourth quarter revenue, as its highly affordable and functional desktop 3D printers continued strong positive sales momentum within the rapidly growing desktop category.

The company generated record non-GAAP profits in the fourth quarter, as strong sales of higher margin products contributed to a non-GAAP gross margin of 60.2% for the period compared to 57.8% for the pro forma period last year; and non-GAAP operating margin grew to 20.2% compared to 19.1% on a pro forma basis for the same period last year.

Q4-2013 Financial Results Summary:

GAAP revenue for the fourth quarter of 2013 was $155.1 million. Non-GAAP revenue of $155.8 million for the fourth quarter of 2013 represents a 61.6% increase over the $96.4 million combined non-GAAP pro forma revenue (giving effect to the Stratasys-Objet merger as though it had closed on January 1, 2012) for the same period last year.
GAAP net loss for the fourth quarter was $2.0 million, or ($0.04) per basic share, compared to a pro forma loss of $3.5 million, or ($0.09) per basic share, for the same period last year.
Non-GAAP net income was $25.8 million for the fourth quarter, or $0.50 per diluted share, compared to pro forma non-GAAP net income of $16.3 million, or $0.40 per diluted share, reported for the same period last year.
Fourth quarter per share calculations were impacted by the public issuance of approximately 5.2 million new ordinary shares in September which raised approximately $463 million; and the approximately 3.9 million new ordinary shares issued in consideration for the acquisition of MakerBot.
The company invested a net amount of $15.5 million in R&D projects (non-GAAP basis) during the fourth quarter, representing 9.9% of net sales.
The company generated $15.6 million in cash from operations during the fourth quarter, and finished the year with $616.1 million in cash, investments and bank deposits, amounting to $12.50 per share.
EBITDA for the fourth quarter amounted to $36.0 million.
Backlog at the end of 2013 amounted to $28.0 million, versus $28.6 million at the end of 2012.
The company sold 10,963 3D printing and additive manufacturing systems during the quarter, and on a combined pro forma basis, a cumulative 75,818 systems worldwide as of December 31, 2013.
“Our fourth quarter results reflect the ongoing realization of revenue synergies from the Stratasys-Objet merger, as well as the rapidly growing demand for additive manufacturing and 3D printing solutions we are observing worldwide,” said David Reis, chief executive officer of Stratasys. “We experienced strong organic growth driven by demand across multiple product lines, as well as an impressive contribution from MakerBot. In addition, a favorable product mix benefited margins, and helped contribute to our record profits. We are very pleased with our fourth quarter and overall annual results.”

Business Highlights:

Introduced the Objet500 Connex3 Color Multi-material 3D Printer, as well as multiple new desktop 3D printers, including the MakerBot Replicator, MakerBot Replicator Z18, and MakerBot Replicator Mini.
Expanded premium material offerings to address a wider range of applications with the introduction of Digital ABS2, Nylon 12, VeroCyan, VeroMagenta, and VeroYellow.
Further developed the MakerBot 3D Ecosystem with the introduction of the MakerBot Digital Store, MakerBot Desktop software, and the MakerBot Mobile and MakerBot Printshop applications.
Continued to invest aggressively in global sales, marketing and channel infrastructure, including the establishment of Stratasys Korea and Stratasys Singapore to enhance the presence in the Asia Pacific region.
Entered multiple strategic partnerships, including a distribution agreement with Dell to provide MakerBot Replicator 3D Printers bundled with Dell Precision Workstations for small and medium-sized businesses.
Continued to target unique verticals such as education, with the launch of MakerBot Academy, a program aimed to provide MakerBot Replicator 3D Printers to U.S. public schools.
Completed the sales, marketing and service team integration initiatives that resulted from the Stratasys-Objet merger, and began processes to better align the functions of R&D and operations.
“We believe Stratasys is well positioned within our rapidly growing industry as we begin 2014,” continued Reis. “We have positive momentum, driven by the ongoing demand for our industry-leading products and services. We are pleased with our many recent new product introductions and channel initiatives, which we believe will greatly improve 3D printing accessibility and drive expanded usage for our products. And finally, we are excited about our many internal projects that we believe will further our objective of market leadership and long-term growth, as we continue to evaluate additional acquisition opportunities to accelerate our growth.”

Financial Guidance:

Stratasys reiterated the following information regarding the company’s projected revenue and net income for the fiscal year ending December 31, 2014:

Revenue guidance of $660 to $680 million.
Non-GAAP net income of $113 to $119 million, or $2.15 to $2.25 per diluted share.
GAAP net income of $10.5 to $19.9 million, or a $0.20 to $0.38 per diluted share.
The company expects organic sales, excluding MakerBot sales, to grow at least 25% over 2013, with additional growth coming from MakerBot, which is expected to grow at a higher rate.
Stratasys provided the following additional information regarding the company’s performance and strategic plans for 2014:

Operating expenses are projected to expand materially in 2014 driven by investments in sales and marketing programs to drive future market adoption, as well as by increased R&D investments to fund technology innovation and new product development.
Incremental sales and marketing investments will focus on expanding sales channels, enhancing regional infrastructure, as well as building unique go-to-market programs targeting certain market verticals and customer applications.
Non-GAAP operating margins in 2014 are projected to remain relatively consistent with levels recognized in 2013, as margin expansion in the company’s core business is offset by a full-year contribution from MakerBot, which maintains lower operating margins.
Projected Non-GAAP net income is expected to be derived disproportionately from the second half of fiscal 2014, driven by the projected timing of operating expenses, as well as the projected timing and success of new product introductions and their corresponding ramp in sales.
Capital expenditures are projected at $50 to $70 million, which includes significant investments in manufacturing capacity in anticipation and support of future growth.
Non-GAAP earnings guidance excludes $64.8 million of projected amortization of intangible assets; $25.1 million to $28.2 million of share-based compensation expense; and $8.8 million to $9.8 million in non-recurring expenses related to acquisitions.

Appropriate reconciliations between GAAP and non-GAAP financial measures are provided in a table at the end of this press release. The table provides itemized detail of the non-GAAP financial measures.

Stratasys Ltd. Q4-2013 Conference Call Details

Stratasys will hold a conference call to discuss its fourth quarter and 2013 annual financial results on Monday, March 3, 2014 at 8:30 a.m. (ET).

The investor conference call will be available via live webcast on the Stratasys Web site at www.stratasys.com under the “Investors” tab; or directly at the following web address: http://www.media-server.com/m/p/p4rrw67g.

To participate by telephone, the domestic dial-in number is 866-318-8617 and the international dial-in is 617-399-5136. The access code is 37260413. Investors are advised to dial into the call at least ten minutes prior to the call to register.

The webcast will be available for 90 days on the “Investors” page of the Stratasys web site or by accessing the provided web address.

via Stratasys