3D Systems wasn’t the only big name in 3D printing to cut its projected profits for 2014. Releasing its Q3 results, Stratasys Ltd. (SSYS) too lowered its profit forecast for the year, due to the acquisition of GrabCAD and increased development costs. Despite this cut in its forecast, the company reported better-than-anticipated results for the quarter.
Thanks to sales of MakerBot products, Stratasys reported a 62% increase in their revenue for the third quarter. MakerBot currently holds about 35% of the desktop 3D printer market and the sale of their machines increased 80% compared to this time last year, increasing sales from $125.6 million to $203.6 million. CEO David Reis expands, “Our organic revenue growth in the third quarter was an impressive 35%, as demand for our industry-leading products and services remained very strong.…
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