The two largest 3D printer manufacturers, 3D Systems (NYSE: DDD) and Stratasys (NASDAQ: SSYS), recently announced their Q3 results. Both companies are growing fast and we decided to compare the two giants on their 3rd quarter 2012 results.
Stratasys recorded Q3 revenue of $49.7 million, which was 24% higher than the same period last year. 3D Systems also reported an increase in revenue, up to $90.5 million, a 57% increase over the 3rd quarter in 2011.
Non-GAAP net income for 3D Systems rose 99% up to $18.2 million ($0.32 per share) compared with the same period in the previous year. Stratasys reported their Q3 non-GAAP net income as $8.7 million ($0.40 per share), with 42% growth from Q3 2011.
GAAP net income for 3D Systems was reported at $13.5 million, $0.24 earnings per share, while Stratasys GAAP net income was $5.2 million, $0.24 earnings per share, slightly declining from last year’s Q3 $5.9 million, $0.27 per share.
Stratasys shipped a total of 911 units during Q3, a 52% increase in comparison with the 600 units shipped out during the same period last year.
Abe Reichental, 3D Systems’ President and Chief Executive Officer commented, “We are very pleased to report another outstanding quarter driven by doubling printer units sales. We believe that our record revenue and earnings growth, amidst expected seasonal weakness, reflects the potency of our diversified portfolio and business model.”
A similarly robust comment came from Scott Crump, Chairman and CEO of Stratasys, “The third quarter represents another solid performance for our company, driven by the continued strong growth we are observing across all our core businesses. System and consumable revenue grew by 27% and 23%, respectively, over last year. Also contributing to the strong quarter was our RedEye parts service, which grew by 26% over last year. These performances contributed to a record level of revenue, which grew by 24% over last year, and a record level of non-GAAP net income, which grew by 42%.”
Summary: Both companies are demonstrating strong growth in terms of revenue. 3D Systems is growing faster, but Stratasys is following closely. Both have made strategic moves during the year and we at 3D Printing Industry look forward to seeing the overall year end results.