Sam Boughedda

Investing.com — Make up a share of Stratasys Extended trading in (NASDAQ:), rose 4.1% after extended trading. The earnings data posted by the company after the close beat revenue and earnings expectations. 

Manufacturer of 3D printers, 3D production systems and 3D printing equipment reported an adjusted share price of $0.02 on $163.4 Million in revenue. Investing.com asked analysts to forecast a loss of $0.04 per share for revenue $157.45 millions.

Systems were the company’s primary revenue driver. It recorded a 36.7% increase in sales for its best quarter in five year. Due to the strength of its expanding install base, it also had “exceptional results” in consumables & services. 

“Our strong start to the year, with our highest first quarter revenue total in six years, was anchored by 22% revenue growth that included improved contributions from all our technologies,” said Dr. Yoav Zeif, Chief Executive Officer of Stratasys.

According to the company, based upon current market conditions it will tighten its 2022 revenue guidance to $685m to $695m. It also anticipates that second quarter revenue growth will be low to mid teens.

For 2022, the adjusted net income will be $10 to $13 millions or $0.14 to $0.19 each share.