MINNEAPOLIS, MN & REHOVOT, Israel, Mar 8, 2019 – Stratasys Ltd. announced financial results for the fourth quarter and full year of 2018. Revenue for the fourth quarter of 2018 was $177.1M, compared to $162M for the last period of same year. GAAP net income for the quarter was $6.3M.
“We are pleased with our fourth quarter and full year profitability, and finished 2018 with record cash flow from operations as we continue to build a strong operational foundation for future growth opportunities and to invest in accelerating new product introductions to expand our addressable markets,” said Elchanan (Elan) Jaglom, interim chief executive officer of Stratasys. “Our consolidated top line results this quarter reflect continued positive traction in high-end system and materials sales for our PolyJet and FDM technology platforms, primarily in North America, offset partially by the impact late in the quarter of the government shutdown in the United States and what we believe is temporary weakness in the Automotive sector in Europe.”
“We are entering into 2019 with an impressive roadmap of new technology and products, and continued, steady progress in customer adoption of our additive manufacturing solutions for advanced applications in our target verticals of aerospace, automotive, healthcare, and high-realism rapid prototyping,” continued Jaglom. “We are excited about our recent and upcoming new product introductions and believe that we will see accelerated growth beginning in 2020.”
A complete chart of the financial results is available here.
Stratasys is a global leader in additive manufacturing or 3D printing technology, and is the manufacturer of FDM and PolyJet 3D Printers. The company’s technologies are used to create prototypes, manufacturing tools, and production parts for industries, including aerospace, automotive, healthcare, consumer products and education. For 30 years, Stratasys products have helped manufacturers reduce product-development time, cost, and time-to-market, as well as reduce or eliminate tooling costs and improve product quality. The Stratasys 3D printing ecosystem of solutions and expertise includes: 3D printers, materials, software, expert services, and on-demand parts production.