Financial Guidance:
Stratasys today reiterated previously
provided guidance for 2017. The Company’s guidance for projected revenue
and net income (loss) for the fiscal year ending December 31, 2017 is as
follows:
- Revenue guidance of $645 to $680 million.
- GAAP net loss guidance of $53 to $39 million, or ($1.00) to ($0.73) per diluted share.
- Non-GAAP net income guidance of $10 to $20 million, or $0.19 to $0.37 per diluted share.
Stratasys provided the following additional guidelines regarding the Company’s projected performance and strategic plans for 2017:
- Non-GAAP operating margin guidance of 3% to 5%.
- Capital expenditures guidance of $40 to $50 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 will be the best measure of performance.
Non-GAAP earnings guidance for 2017 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.
Stratasys Ltd. Q1 2017 Conference Call Details
The Company plans to hold a conference call to discuss its first quarter financial results on Tuesday, May 16, 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/j59trooi.
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 10010178.
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 nearly 30 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 approximately 2,400 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 and FDM are registered trademarks, and the Stratasys signet, PolyJet and Continuous Build 3D Demonstrator are trademarks of Stratasys Ltd. and/or its subsidiaries or affiliates. All other trademarks belong to 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
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 Ltd.
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, or in 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 2016 Annual Report on Form 20-F, filed with the SEC on March 9,
2017, as well as in the 2016 Annual Report generally. Readers are urged
to carefully review and consider the various disclosures made throughout
(i) the Report on Form 6-K that attaches Stratasys’ unaudited, condensed
consolidated financial statements as of, and for the quarter ended,
March 31, 2017, and its review of its results of operations and
financial condition for those periods, which has been furnished to the
SEC on or about the date hereof, (ii) Stratasys’ 2016 Annual Report, and
(iii) 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, in this press release 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.
