Stratasys Ltd. and Creaform Announce Joint Marketing Agreement
May 28 15
Stratasys Ltd. announced a joint marketing partnership in North America with Creaform. This new partnership empowers users to leverage cutting-edge 3D scanning technology and world-class 3D printing technology designed to streamline the process across various industries and applications. With a professional-grade solution, the user is able to accurately scan any 3D object and quickly generate print-ready files or even perform direct 3D-scan-to-print. Example applications include: Product design: reverse engineering and prototyping. Manufacturing: development of custom dies and molds, and the fabrication of jigs and fixtures. Health care: design of prosthetics, orthotics, surgical aids and guides. Education: mechanical engineering and design curriculums. The companies will be demonstrating the joint solution at the American Society for Engineering Education Conference and Exposition, June 14 -17 in Seattle, Washington.
Stratasys Ltd. Reveals First 3D Printed Photosynthetic Wearable, Embedded with Living Matter
May 13 15
Stratasys Ltd. announced that Neri Oxman, has revealed first 3D printed photosynthetic wearable, embedded with living matter. On the TED2015 stage in Vancouver, Oxman unveiled Mushtari, an artwork3D printed by Stratasys, and the world’s first wearable combining multi-material additive manufacturing and synthetic biology. Neri Oxman's lauded TED Talk reveals Stratasys 3D printed wearable designed to host living matter in another world's first. Photo credit: Bret Hartman, courtesy of TED. Stratasys developed a new tailor-made solution for this particular piece. According to Naomi Kaempfer, Creative Director Art Fashion Design at Stratasys, 'the company have a fertile research collaboration with Professor Neri Oxman. 3D printing Mushtari is a wonderful example of how far this collaboration can bring us. The fluid channels in the wearable stretch to around 58 meters, with an inner channel diameter ranging from 1 mm to 2.5 cm, frequently turning sharply in new directions. Clearing the support material out from such a long, narrow and complex structure to create the hollow channels for living matter presented a significant challenge.
Stratasys Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015; Announces Goodwill Impairment for the First Quarter Ended March 31, 2015
May 11 15
Stratasys Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, net sales were $172.731 million against $150.941 million a year ago. Operating loss was $220.902 million against operating profit of $0.835 million a year ago. Loss before income taxes was $226.026 million against $0.501 million a year ago. Net loss attributable to the company $216.288 million or $4.24 per basic and diluted share against net income attributable to the company of $4.087 million or $0.08 per basic and diluted share a year ago. On non-GAAP basis, net sales were $172.731 million against $151.176 million a year ago. Operating loss was $0.776 million against operating profit of $22.754 million a year ago. Loss before income taxes was $5.900 million against income before income tax of $21.418 million a year ago. Net income attributable to the company $2.024 million or $0.04 per basic and diluted share against $20.598 million or $0.40 per diluted share a year ago. The company generated $3.9 million in cash from operations during the first quarter. Capital expenditures amounted to approximately $14.4 million in facility and equipment investment. Non-GAAP net income was decreased as compared to the same period a year ago, due to shortfall in revenue. Non-GAAP EBITDA amounted to $2.2 million. Total revenue in the first quarter increased by 14%, when compared to for the same period last year. On an organic basis, which exclude the impact of acquisitions, revenue growth was flat compared to the same period last year or 6% on a constant-currency basis. The lower growth experienced in the first quarter, compared to the company’s historical growth rates, is primarily due to the overall market weakness and the slowdown in sales across most regions and business units. Sales were impacted by market softness that it expects was driven primarily by the following: a decline in capital spending in certain regions and industries, strength of the USD relative to foreign currencies impacted first quarter revenue by approximately $7.8 million on a constant-currency basis, increased M&A activity within its North American channel, slower-than-expected adoption higher-end Connex system following the introduction of 8 new Connex products in the fourth quarter, and a period of a slower-than-expected channel ramp-up in Asia.
For the quarter, the company reported goodwill impairment of $150.400 million.
For 2015 the company estimates total revenue in the range of $800 to $860 million, with non-GAAP net income in the range of $63 to $90 million, or $1.20 to $1.70 per diluted share. The company now projects a GAAP net loss for fiscal 2015 of $256 million to $224 million, or $5.0 to $4.38 per share. Projected Non-GAAP net income is expected to be derived disproportionately from the second half of fiscal 2015, driven primarily by the projected timing of revenue and operating expenses. The company expects to see a bottom-line benefit of the previously outlined reduction in operating expenses throughout 2015. The company continues to expect total operating expenses, as a percentage of revenues, to be in the range of 46% to 47% for 2015; and capital expenditures in the range of $80 to $110 million. Finally, the company wants to reiterate the following goals for the company’s long term operating model, which include: Annual organic revenue growth of at least 25%; Non-GAAP operating income as a percentage of sales of 18-23%; Non-GAAP effective tax rate of 10-15%; Non-GAAP net income as a percentage of sales of 16-21%. The company has re-examined its 2015 operating plans in light of the challenging market conditions its observed in the first quarter and have taken immediate action to adjust near-term operating expenditures for the remainder of 2015 and are reducing its 2015 capital expenditures plans. Most of these reductions are expected to be short term and related to its lower near-term revenue expectations. The reductions are occurring across most areas of its business, but the company continues to invest aggressively in critical areas, including vertical market development, strategic accounts, customer support services, IT and channel development. Despite these adjustments, the company will remain well positioned to react to acceleration in demand or improvement in overall market conditions.