Research Desk Line-up: AstroNova Post Earnings Coverage
LONDON, UK / ACCESSWIRE / June 5, 2017 / Pro-Trader Daily publishes post-earnings coverage on Stratasys Ltd. (NASDAQ: SSYS) following the Company's reporting of its first quarter fiscal 2017 financial results on May 16, 2017. The diversified 3D printing Company's revenue numbers surpassed market expectations while earnings met estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
http://protraderdaily.com/register/
Get more of our free earnings reports coverage from other constituents of the Computer Peripherals industry. Pro-TD has currently selected AstroNova, Inc. (NASDAQ: ALOT) for due-diligence and potential coverage as the Company reported on May 16, 2017, its financial results for Q1 FY18 which ended on April 29, 2017. Register for a free membership today, and be among the early birds that get access to our report on AstroNova when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SSYS; also brushing on ALOT. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/'symbol=SSYS
http://protraderdaily.com/optin/'symbol=ALOT
Earnings Reviewed
For the three months ended March 31, 2017, Stratasys' revenue totaled $163.16 million, compared to $167.91 million for Q1 2016. The Company's revenue numbers surpassed analysts' consensus estimates of $162.5 million.
During Q1 2017, Stratasys' product revenue decreased by 3% on a y-o-y basis to $115.1 million. Within product revenue, system revenue for the reported quarter declined by 11% compared to the year ago same period, primarily driven by a shift in the Company's product mix towards lower-end system. For Q1 2017, Stratasys' product gross margin decreased to 57.9% compared to 61.1% for Q1 2016, driven by the shift in sales mix.
Stratasys' Service revenue had decreased by 2% on a y-o-y basis to $48.1 million in Q1 2017. Within Service revenue, customer support revenue, which includes revenue generated mainly by maintenance contracts on the Company's systems, increased by 7% on a y-o-y basis. The Company's Service gross margin decreased to 35% in the reported quarter compared to 40.4% for the year ago comparable quarter, driven primarily by lower service revenue ratio to fixed expenses.
For Q1 2017, Stratasys' GAAP gross margin was 47.1% compared to a GAAP gross margin of 48.3% for Q1 2016. The Company's non-GAAP gross margin was 51.2% for the reported quarter compared to 55.1% for the prior year's same quarter.
During Q1 2017, Stratasys' GAAP operating loss was $12.6 million compared to a loss of $21.1 million for Q1 2016. The Company's non-GAAP operating income for the reported quarter was $4.0 million, unchanged compared to non-GAAP operating income for the year ago comparable quarter.
Stratasys' GAAP net loss for Q1 2017 was $13.9 million, or ($0.26) per diluted share, compared to a loss of $23.1 million, or ($0.44) per diluted share, for Q1 2016. The Company's non-GAAP net income for the reported quarter was $2.4 million, or $0.05 per diluted share, compared to non-GAAP net income of $0.6 million, or $0.01 per diluted share, reported for the year ago same period, and met Wall Street's expectations for earnings of $0.05 per share.
Cash Matters
Stratasys generated $25.4 million of cash from operations during Q1 2017 compared to $31.6 million for Q1 2016. As of March 31, 2017, Stratasys had $297.2 million in cash and cash equivalents compared to $280.3 million at the end of 2016. The Company's inventory at the end of the reported quarter decreased to $116 million compared to $117.5 million at the end of 2016 as it maintain tight control on inventory levels. Stratasys' accounts receivable decreased to $115.1 million compared to $120.4 million at the end of 2016 with DSO on 12-month trailing revenue at 63.
Outlook
For FY17, Stratasys is forecasting total revenue in the range of $645 million to $680 million with non-GAAP net income in the range of $10 million to $20 million, or $0.19 to $0.37 per diluted share. The Company is expecting GAAP net loss in the range of $53 million to $39 million, or $1 to $0.73 per basic share, while non-GAAP operating margin is expected to be in the band of 3% to 5% and capital expenditures are projected in the range of $40 million to $50 million.
Stock Performance
At the closing bell, on Friday, June 02, 2017, Stratasys' stock was slightly down by 0.22%, ending the trading session at $27.77. A total volume of 540.87 thousand shares have exchanged hands. The Company's stock price soared 43.51% in the last three months, 53.85% in the past six months, and 19.24% in the previous twelve months. Moreover, the stock skyrocketed 67.90% since the start of the year. The stock currently has a market cap of $1.46 billion.
Pro-Trader Daily:
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst, for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: contact@protraderdaily.com
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily
