Stratasys today provided the following information regarding the Company’s guidance for projected revenue and net income for the fiscal year ending December 31, 2019:
-
Revenue guidance of $670 to $700 million.
- As the Company stated on the earnings call today, revenue is expected to grow during the first half of 2019, excluding the impact of 2018 divestitures. The Company clarifies that it expects the 2nd half of 2019 will represent 51%-53.5% of the 2019 revenue. Revenue is subject to the variability that may be caused by the shifting of large orders.
- GAAP net loss of $22 to $12 million, or ($0.40) to ($0.22) per diluted share.
- Non-GAAP net income of $30 to $38 million, or $0.55 to $0.70 per diluted share.
Stratasys also provided the following guidance regarding the Company’s projected performance and strategic plans for 2019:
- Non-GAAP operating margins of 5.5% to 6.5%.
- Capital expenditures are projected at $45 to $60 million.
Given the expected ongoing negative impact of not recording a tax benefit on U.S. tax losses on the Company’s non-GAAP net income, the Company believes that the rate of growth in its non-GAAP operating income is the best measure of its performance.
Non-GAAP earnings guidance excludes $32 million of projected amortization of intangible assets; $20 to $22 million of share-based compensation expense; reorganization related and other expense of $1 to $2 million; and includes ($3) to ($4) million in tax expenses related to non-GAAP adjustments.
“We are entering into 2019 with an impressive roadmap of new technology and products, and continued, steady progress in customer adoption of our additive manufacturing solutions for advanced applications in our target verticals of aerospace, automotive, healthcare, and high-realism rapid prototyping,” continued Jaglom. “We are excited about our recent and upcoming new product introductions and believe that we will see accelerated growth beginning in 2020.”
Stratasys Ltd. Q4 2018 Conference Call Details
The Company plans to hold the conference call to discuss its third quarter financial results on Thursday, March 7, 2019 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: https://edge.media-server.com/m6/p/znvsr248.
To participate by telephone, the domestic dial-in number is (866) 394-5776 and the international dial-in is (409) 350-3596. The access code is 2462328.
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 Website or by accessing the provided web address.
Stratasys is a global leader in additive manufacturing or 3D printing technology, and is the manufacturer of FDM® and PolyJet™ 3D Printers. The Company’s technologies are used to create prototypes, manufacturing tools, and production parts for industries, including aerospace, automotive, healthcare, consumer products and education. For 30 years, Stratasys products have helped manufacturers reduce product-development time, cost, and time-to-market, as well as reduce or eliminate tooling costs and improve product quality. The Stratasys 3D printing ecosystem of solutions and expertise includes: 3D printers, materials, software, expert services, and on-demand parts production. Online at: www.stratasys.com, http://blog.stratasys.com and LinkedIn.
Stratasys is a registered trademark and the Stratasys signet is a trademark of Stratasys Ltd. and/or its subsidiaries or affiliates. All other trademarks are the property of their respective owners.
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
2019, 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: the degree of market
acceptance of our 3D printers, high-performance systems and consumables,
and the software and technology included in those systems; potential
declines in the demand for, or the prices of, our products and services,
or volume of our sales, due to decreased demand either for them
specifically or in the 3D printing market generally; potential shifts in
our product mix to lower-margin products or in our revenues mix towards
our AM services business; potential further charges against earnings
that we could be required to take due to impairment of additional
goodwill or other intangible assets; potential failure to successfully
consummate acquisitions or investments in new businesses, technologies,
products or services; the impact of competition and new technologies;
risks related to our relationships with our suppliers, resellers and
independent sales agents, and our operations at our manufacturing sites;
risks related to the international scope of our operations and
regulatory compliance (including reporting, environmental,
anti-corruption and other regulatory compliance) related to that scope
of operations; risks related to the security of our information systems
(including risks related to potential cyber-attacks); changes in the
overall global economic environment or in political and economic
conditions in the countries in which we operate; changes in our
strategy; costs and potential liability relating to litigation and
regulatory proceedings; and those additional factors referred to in Item
3.D “Key Information - Risk Factors”, Item 4, “Information on the
Company”, Item 5, “Operating and Financial Review and Prospects,” and
all other parts of our Annual Report on Form 20-F for the year ended
December 31, 2018 (the “ 2018 Annual Report ”), filed with the
Securities and Exchange Commission (the “ SEC ”) on March 7 <
