3D Systems Down After Stratasys' Bad Guidance

Shares of Stratasys, Ltd. SSYS fell in Tuesday’s after-hours session and traded at $48.98, down 4.52 percent.

The price action followed the release of weak preliminary Q1 results.

The company anticipated non-GAAP EPS of $0.02 to $0.04 per diluted share and revenue in the range of $171 to $173 million.

The Estimize consensus was for EPS of $0.33 on revenue of $206.15 million.

The Wall Street consensus was for EPS of $0.32 on revenue of $202.26 million.

"We are disappointed with our first quarter results," said David Reis, Chief Executive Officer of Stratasys. "Our industry still remains in the early phases of adoption, and our belief in the long-term opportunity remains unchanged. Despite these first quarter challenges, we remain focused on our current strategies to drive sales growth and adoption, and are committed to our multi-year investment plan."

3D Systems Corporation DDD also fell 4.43 percent amid the news to $25.00 in the after-hours session.