Financial Guidance:
Stratasys today provided the following
information regarding the company’s guidance for projected revenue and
net income for the fiscal year ending December 31, 2017:
- Revenue guidance of $645 to $680 million.
- Non-GAAP net income of $10 to $20 million, or $0.19 to $0.37 per diluted share.
- GAAP net loss of $53 to $39 million, or a ($1.00) to ($0.73) per diluted share.
Stratasys provided the following additional guidelines regarding the company’s projected performance and strategic plans for 2017:
- Non-GAAP operating margins of 3% to 5%.
- Capital expenditures are projected at $40 to $50 million.
Given the expected ongoing negative impact of not recording a tax benefit on U.S. tax losses on the Company non-GAAP net income, the Company believes that the rate of growth in its non-GAAP operating income will be the best measure of performance.
Non-GAAP earnings guidance excludes $34 million of projected amortization of intangible assets; $18 to $20 million of share-based compensation expense; $2 to $3 million in merger and acquisition related expense; and $8 to $10 million in reorganization and other related costs; and includes $3 to $4 million in tax expenses related to non-GAAP adjustments.
“As we move into 2017, we continue to invest in achieving our long-term goals. As we extend our reach into use-case centric applications, we intend to continue to shift resources to build out our capabilities around high-value added applications. We believe our combined efforts can lead to improved quality of revenue, and enable long-term, strong and sustainable growth. We are excited about the potential market opportunity that lies ahead,” Levin concluded.
Stratasys Ltd. Q4 2016 Conference Call Details
The Company plans to hold the conference call to discuss its fourth quarter and full year 2016 financial results on Thursday, March 9, 2017 at 8:30 a.m. (ET).
The investor conference call will be available via live webcast on the Stratasys Web site at www.stratasys.com under the "Investors" tab; or directly at the following web address: http://edge.media-server.com/m/p/9kxkoga5/.
To participate by telephone, the domestic dial-in number is (855) 319-2216 and the international dial-in is (503) 343-6033. The access code is 73596435.
Investors are advised to dial into the call at least ten minutes prior to the call to register. The webcast will be available for 90 days on the "Investors" page of the Stratasys Web site or by accessing the provided web address.
For more than 25 years, Stratasys Ltd. (NASDAQ: SSYS) has been a defining force and dominant player in 3D printing and additive manufacturing – shaping the way things are made. Headquartered in Minneapolis, Minnesota and Rehovot, Israel, the company empowers customers across a broad range of vertical markets by enabling new paradigms for design and manufacturing. The company’s solutions provide customers with unmatched design freedom and manufacturing flexibility – reducing time-to-market and lowering development costs, while improving designs and communications. Stratasys subsidiaries include MakerBot and Solidscape, and the Stratasys ecosystem includes 3D printers for prototyping and production; a wide range of 3D printing materials; parts on-demand via Stratasys Direct Manufacturing; strategic consulting and professional services; and the Thingiverse and GrabCAD communities with over 2 million 3D printable files for free designs. With more than 2,500 employees and 1,200 granted or pending additive manufacturing patents, Stratasys has received more than 30 technology and leadership awards. Visit us online at: www.stratasys.com or http://blog.stratasys.com/, and follow us on LinkedIn.
Stratasys is a registered trademark of Stratasys Ltd. and/or its subsidiaries or affiliates.
Cautionary Statement Regarding Forward-Looking Statements
The statements in this press release regarding Stratasys' strategy, and
the statements regarding its projected future financial performance,
including the financial guidance concerning its expected results for
2017, are forward-looking statements reflecting management's current
expectations and beliefs. These forward-looking statements are based on
current information that is, by its nature, subject to rapid and even
abrupt change. Due to risks and uncertainties associated with Stratasys'
business, actual results could differ materially from those projected or
implied by these forward-looking statements. These risks and
uncertainties include, but are not limited to: any failure to
efficiently and successfully integrate the operations of Stratasys, Inc.
and various entities that it has acquired, including MakerBot, Solid
Concepts, Harvest and GrabCAD, or to successfully establish and execute
effective post-acquisition integration plans; changes in the overall
global economic environment; the impact of competition and new
technologies; changes in the general market, political and economic
conditions in the countries in which we operate; any underestimates in
projected capital expenditures and liquidity; changes in our strategy;
changes in applicable government regulations and approvals; changes in
customers’ budgeting priorities; lower than expected demand for our
products and services; reduction in our profitability due to shifting in
our product mix into lower margin products or our shifting in our
revenues mix significantly towards our AM services business; costs and
potential liability relating to litigation and regulatory proceedings;
and those factors referred to in Item 3.D “Key Information - Risk
Factors”, Item 4, “Information on the Company”, and Item 5, “Operating
and Financial Review and Prospects” in our 2015 Annual Report, together
with the 2016 Annual Report that we will file soon, as well as in the
2016 Annual Report generally. Readers are urged to carefully review and
consider the various disclosures made throughout the Form 20-Fand in
Stratasys’ other reports filed with or furnished to the SEC, which are
designed to advise interested parties of the risks and factors that may
affect our business, financial condition, results of operations and
prospects. Any guidance provided, and other forward-looking statements
made, on this call are made as of the date hereof, and Stratasys
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
