3-D printing stocks are crashing
Shares of several companies fell after 3-D Systems said earnings would be hurt by a spending increase.
The company now sees adjusted 2014 earnings per share coming in at $0.73 to $0.85. Consensus expectations, according to Bloomberg, was $1.29.
The company develops and manufactures 3-D printers, which can make components for everything from body parts to guns (as well as desktop widgets).
Expected 2013 adjusted EPS also missed expectations. The company now sees a range $0.83 to $0.97 -- a downward revision from $0.93 to $1.03, and below the consensus estimate of $0.97.
Revenue came in in-line with expectations.
Dow Jones reports DDD has announced "substantial" R&D spending increases to try to close that gap. "As we previously stated, we are willing to tolerate earnings reduction and even slight gross-profit-margin compression during this period to substantially accelerate our growth rate and market share," says CEO Avi Reichental.
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