3D Systems Corp (TDSC)) continues to climb on upward estimate revisions, driven by its latest quarterly report.
Company Description
3D Systems prints 3-D images, Rapid Prototyping, and Manufacturing parts. The company’s services allow manufactures to create parts from a 3-D print out.
Strong Sequential Growth
On Nov 3 the company released quarterly results that included revenue of nearly $28 million. While this is down since last year, it is up since last quarter.
3D Systems surprised analysts by reporting a 4 cent profit per share, rather than the 3 cent loss that was expected. This ended a 2 quarter streak of misses for the company.
Estimates Rising
Following the report the full-year Zacks Consensus Estimate for this year jumped 14 cents, to a loss of 6 cents. This accounts for the 7 cent surprise and a 7 cent rise in estimates for the current quarter.
Each covering analyst submitted an upward revision after the report was released. Next year’s projections now average 15 cents. Compare these to estimates to the 33 cent loss last year.
Growth Potential
President and CEO, Abe Reichental, said, “Our current financial strength and flexibility, as reflected by our debt-free balance sheet and sustained cash position, enabled us to begin to pursue new organic and acquisition-related growth initiatives.”
The Chart
The MACD continues to show strong momentum in shares of TDSC. Other than a slight hiccup preceding the earnings report, shares have developed a nice trend line. Take a look at the chart below.
