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Stratasys Flying High After Posting Earnings

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Stratasys stock was up by nearly 19% on Thursday after the company that specializes in 3-D printing reported a jump of 67% in its quarterly revenue.

The firm based in Minnesota and Israel reported a $173,000 net loss or break even based on a basis of per share. That result was compared to a loss of more than $2.8 million equal to 7 cents a share for the same period last year.

Revenue was up to $178.4 million compared to $106.4 million for the same period last year.

CEO of Stratasys, David Reis said the company continued seeing strong sales momentum for its materials and its higher performance systems, which is evidenced by the 35% revenue growth generated in the second quarter.

Non-GAAP income during the second quarter increased over 51% compared to the same period a year ago to end the quarter at $28 million or 55 cents a diluted share.

MakerBot products as well as services contributed more than $33.6 million in revenue for the second quarter, which was driven by successful new product introductions and initiative for channel expansion.

The company increased its fiscal 2014 financial outlook due to an improved outlook for the rest of the year. They also took into account recent acquisitions of Harvest Technologies and Solid Concepts.

Revenue guidance was up to $750 million to $770 million for 2014. Non-GAAP income guidance was up to between $2.25 and $2.35.

The company updated its operating model for the long term, which included increasing its long-term organic growth annually in revenue to 25%, versus a previous guidance of 20%.

Per share second quarter calculations relative to 2013 were impacted through the issuance of nearly 5.2 million shares of stock during September of 2013 in a public offering, which raised more than $463 million.

Operating expenses increased materially during the second quarter compared to last year and were driven by more operating expenses at MakerBot, as well as substantial incremental investments in marketing and sales programs to support growth.

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