2 Key Things From 3D Systems' Earnings Call That Investors Should Know
Earlier this month, 3D Systems (NYSE: DDD) reported first-quarter 2021 results that easily beat the Wall Street consensus estimates for both revenue and earnings. The stock skyrocketed 35% the next day.
In the first quarter, the 3D printing company's revenue rose 7.7% year over year (and 17% excluding the impact of divestitures) to $146.1 million. Growth was driven by continued strength in the healthcare segment and a stabilizing of the industrial segment, which was hard hit by the fallout from the COVID-19 pandemic.
Moreover, the company posted a profit on both an adjusted basis and according to generally accepted accounting principles (GAAP). Adjusted for one-time items, net income landed at $20.9 million, or $0.17 per share, up from a loss per share of $4.5 million, or $0.04 per share, in the year-ago period. GAAP net income was $45.2 million, or $0.36 per share, up from a loss of $18.9 million, or $0.17 per share, in the first quarter of 2020.
Source Fool.com
