3D Systems swoons on ghastly Q1 results
Shares of 3D Systems Corp. (Nasdaq:TDSC) are plummeting out of the gate after the provider of 3-D modeling, rapid prototyping and manufacturing services posted a substantially wider-than-forecasted first-quarter net loss and anemic revenues that slumped below the consensus on Wall Street.
The lackluster results were owed to lower sales of large-frame rapid manufacturing systems on account of soft demand in the U.S. market for prototypes and functional parts produced on these systems. Lower selling prices and a lower success rate to close new systems sales also contributed to the down quarter.
Shares crumbled 30%, or $4.11, to $10.01 at 9:52 a.m. For detailed price information and recent news stories about 3D Systems, click TDSC.
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