(STRATASYS)(SSYS) Stratasys, Inc. Announces Record Second Quarter
Revenues; Record Revenues and Higher Net Income Company Sees Continued
Strong Growth for 1998
(Business Wire; 07/27/98)
Business Editors
MINNEAPOLIS--(BUSINESS WIRE)--July 27, 1998--Stratasys, Inc. (NASDAQ:
SSYS) today announced record revenues for the second quarter and six months
ended June 30, 1998. Revenues for the second quarter rose to a record $
8,256,810 as compared to $6,965,334 in the second quarter of 1997, an 18.5%
increase.
Net income for the second quarter of 1998 was $434,737, or $.07 per share
as compared to a loss of $82,884, or ($0.01) per share, for the same period
in 1997. Gross profit margin as a percentage of sales grew to 69.3 % for
the second quarter of 1998 compared to 66.8% for the second quarter of
1997.
For the six months ended June 30, 1998, revenues totaled $15,264,482,
compared with revenues of $12,173,861 for the six months ended June 30,
1997, a 25 percent increase. The company reported net income for the six
months of $446,509, or $0.07 per share, compared with a net loss of
$487,298, or ($.09) per share for the same period of 1997.
Scott Crump, Chairman and Chief Executive Officer, stated, "We were pleased
to report a profit for the second quarter, meeting the First Call consensus
estimate of $0.07 per share.
"Furthermore, the Company's order backlog as of June 30, 1998 was about
three times larger than the backlog as of March 31, 1998. Increasing our
Backlog was a stated objective of the quarter," he said.
"Repeat business grew to 26 percent levels "Mr. Crump said, "indicating
strong customer satisfaction from our existing installed base. Operating
expenses decreased as a percentage of sales to 62.6% for the second quarter
of 1998 compared to 70.3% in the second quarter of 1997, resulting in an
operating profit of $553,389 for the second quarter of 1998 compared with
an operating loss of $245,048 for the comparable 1997 period."
Mr. Crump concluded, "We continue our commitment to Genisys, the 3D-
Printer, and have great confidence in the Concept Modeling market. Our new,
large, high-speed rapid prototyping system, the FDM Quantum(tm), introduced
in March, opens up applications for us in the automotive, aerospace and
service bureau markets. This system builds parts up to two and one-half to
five times faster than our other FDM(R) systems. Strong demand exists for
our entire FDM product line. We believe these factors enforce our
confidence that 1998 will be our most successful sales year in our
history."
Don Moffatt, the Company's Chief Operating Officer, because of personal
reasons, will be working part time for Stratasys in the future. The
position of Chief Operating Officer will remain vacant.
Stratasys Inc., is a manufacturer of rapid prototyping systems [....]
CONTACT: STRATASYS, INC.
S. Scott Crump, Chairman and President
Tom Stenoien, Chief Financial Officer
(612) 937-3000
or
KCSA
Joseph A. Mansi/Jeffrey Corbin
(212) 896-1205/(212) 896-1214 (phones)
(212) 697-0910 (fax)
kcsa@aol.com (e-mail)
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