Stratasys first quarter revenue sets record

Sales were strongest for the high-end Fortus line and the low-end uPrint desktop 3D printers.

A turbo-prop aircraft engine model, printed at full scale and then assembled, was on display last November at Autodesk University. Parts were designed using Autodesk Inventor and printed on both Fortus 3D Production Systems and Dimension 3D Printers from Stratasys. (Image courtesy Stratasys.)

Additive manufacturing system and 3D printer manufacturer Stratasys (NASDAQ:SSYS) today reported record revenue with first quarter 2011 total revenue of $34.3 million, up 49% from a year earlier. Sales of the company’s high-end Fortus line were up 60%.

The first quarter of last year included a $5.0 million one-time non-cash charge against revenue, due to the deal with 3D printer distribution deal with HP.

Product revenue in the quarter was $27.8 million up 27%. Services revenue in the quarter was $6.5 million, up 4%.

System shipments for the first quarter totaled 567 units versus 610 units for the same period last year. Unit sales of the high-end Fortus additive manufacturing line rose 60%, Unit sales of the low-end 3D printers, including those distributed by HP, rose 36%; unit sales of these units into HP’s European territory (currently the only region for the HP deal) rose 49%. Sales of consumables (the material used to create 3D models) were up 36%.

Net income for the quarter was $4.98 million, up from a net loss a year earlier of $443,858. Cash per share is $1.70, down slightly from three months ago.

Yesterday Stratasys acquired Solidscape, a provider of 3D printing systems for investment casting and mold making. For more information, see the GraphicSpeak article, “Stratasys acquires 3D printer maker Solidscape.”