We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Stratasys (SSYS) Reports Narrower-Than-Expected Loss in Q2
Read MoreHide Full Article
Stratasys Ltd. (SSYS - Free Report) reported non-GAAP loss of 13 cents per share in second-quarter 2020, narrower than the Zacks Consensus Estimate of a loss of 23 cents. However, the bottom line compared unfavorably with the year-ago quarter’s earnings per share of 16 cents per share.
Stratasys’ revenues of $117.6 million missed the consensus mark of $121.1 million as well as declined 27.9% year over year. Economic weakness due to the outbreak of the coronavirus pandemic affected the top line.
Quarter Details
Segment wise, Product revenues plunged 33% from the year-ago quarter to $73.9 million. Within Product revenues, System revenues decreased 35.6% and Consumables revenues fell 30.6% year over year.
Revenues from Services decreased 17.2% year over year to $43.7 million. Within Service revenues, customer support revenues dropped 7.5% year over year.
Stratasys’ non-GAAP gross profit dipped 37.7% from the year-ago quarter to $53.3 million. Non-GAAP gross margin contracted 710 basis points (bps) to 45.4%.
Non-GAAP operating expenses declined 19.8% year over year to $61.4 million, aided by efforts to cut SG&A costs.
Non-GAAP operating loss totaled $8.1 million against an operating income of $0.8 million in the prior-year quarter.
The company exited the quarter with cash and cash equivalents of $313 million compared with the $325.5 million witnessed at the end of the previous quarter.
As of Jun 30, 2020, there was no long-term debt.
Net cash used in operating activities in the reported quarter was $9.7 million.
The long-term earnings growth rate for Benefitfocus, Cogent and Synaptics is currently pegged at 30%, 10.6%, and 10%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Bigstock
Stratasys (SSYS) Reports Narrower-Than-Expected Loss in Q2
Stratasys Ltd. (SSYS - Free Report) reported non-GAAP loss of 13 cents per share in second-quarter 2020, narrower than the Zacks Consensus Estimate of a loss of 23 cents. However, the bottom line compared unfavorably with the year-ago quarter’s earnings per share of 16 cents per share.
Stratasys’ revenues of $117.6 million missed the consensus mark of $121.1 million as well as declined 27.9% year over year. Economic weakness due to the outbreak of the coronavirus pandemic affected the top line.
Quarter Details
Segment wise, Product revenues plunged 33% from the year-ago quarter to $73.9 million. Within Product revenues, System revenues decreased 35.6% and Consumables revenues fell 30.6% year over year.
Revenues from Services decreased 17.2% year over year to $43.7 million. Within Service revenues, customer support revenues dropped 7.5% year over year.
Stratasys, Ltd. Price, Consensus and EPS Surprise
Stratasys, Ltd. price-consensus-eps-surprise-chart | Stratasys, Ltd. Quote
Stratasys’ non-GAAP gross profit dipped 37.7% from the year-ago quarter to $53.3 million. Non-GAAP gross margin contracted 710 basis points (bps) to 45.4%.
Non-GAAP operating expenses declined 19.8% year over year to $61.4 million, aided by efforts to cut SG&A costs.
Non-GAAP operating loss totaled $8.1 million against an operating income of $0.8 million in the prior-year quarter.
The company exited the quarter with cash and cash equivalents of $313 million compared with the $325.5 million witnessed at the end of the previous quarter.
As of Jun 30, 2020, there was no long-term debt.
Net cash used in operating activities in the reported quarter was $9.7 million.
Zacks Rank and Key Picks
Currently, CDW carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector include Benefitfocus , Cogent Communications Holdings (CCOI - Free Report) and Synaptics (SYNA - Free Report) , all carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term earnings growth rate for Benefitfocus, Cogent and Synaptics is currently pegged at 30%, 10.6%, and 10%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>