Stratasys Ltd. posted a $216 million loss for its first fiscal quarter.
The 3-D printer manufacturer and service firm — as it had warned a month ago — said on Monday that an industrial slowdown, high U.S. dollar and MakerBot reboot proved big setbacks.
Stratasys officials said growth had slowed across all industrial segments and that the strong dollar also affected revenue. Profits were slammed by large restructuring costs for its consumer desktop 3-D printing division, MakerBot.
The company noted some successes during the quarter, such as a new parts-manufacturing contract with Airbus, an uptick in service revenue and increased sales of "consumable" resins and parts needed for its industrial and consumer 3-D printers.
Even so, Stratasys, which is based in Rehovot, Israel, with significant operations in Eden Prairie, posted a loss of $216.3 million, or $4.24 per share for the first quarter. In the first quarter a year ago, profits were $4.1 million, or 8 cents a share.
Excluding a $194 million impairment charge for its consumer-oriented MakerBot desktop 3-D printer subsidiary and other one-time items, adjusted earnings were a positive $2 million, or 4 cents a share.
On average, Wall Street analysts had expected 3 cents a share.
Revenue rose 14 percent to $172.7 million, up 14.4 percent from the same period a year ago and slightly exceeding the $172.6 million expected by analysts.