3D Systems share price up as 3D printer company announces that revenues have increased in its results for full year ended December 2015Heat Profit
The company may have made a loss in its fourth quarter but shareholders seem positive (Source: Getty)
Share price in 3D Systems rose today after the company revealed its revenues inched up for its full year ended December 2015.
The 3D printing company revealed that revenue had grown during 2015 by two per cent to $666.2m (£465.3m).
“We believe that by leveraging our domain expertise, partner and customer relationships and advanced technology we are well positioned to capitalise on meaningful opportunities in key verticals,” said Andrew Johnson, interim president and chief executive of 3D Systems. “We are continuing an extensive and comprehensive review of our business and strategy and taking steps to better prioritise our resources and focus our Investments.”
However, revenue slumped slightly during the company’s fourth quarter of the year, dropping two per cent to $183.4m, while the technology company also a loss for the quarter of $596.4m.
“While Market conditions remain challenging and uncertain, timing of healthcare and industrial customer orders as well as contributions from acquisitions supported revenue during the quarter,” added Johnson.
Shares in the company were trading up 26.2 per cent at $14.57 shortly before 11:30am New York time.