Shares are down more than 12% in pre-market trading for 3D Systems, with earning and revenue also coming up short of what the company had predicted.
Revenue was expected to reach $162.3 million but instead only hit $151.5 million and Q2 EPS came in at $0.16 a share versus what 3D Systems though would be $0.18.
The predicted gross margin of 51% was also down, ringing in at $47.8%.
CEO Avi Reichental said, “While transitional forces temporarily pressured our gross profit margin, a detailed examination of the specific drivers, confirms that the fundamentals of our business are intact and our gross profit margins are poised to rebound and resume their expansion trajectory.”
