Three-D printing firm Stratasys Ltd. reported fourth-quarter results Monday that showed an expected loss for both the quarter and fiscal year.
The maker of commercial and consumer 3-D printers lost $92 million for the quarter due to a $102 million charge taken as it works to smooth the kinks and accelerate growth in its budding MakerBot consumer printing division.
The troubled division contributed about 12 percent to the fourth quarter.
Stratasys officials warned Wall Street one month ago that the quarter and fiscal year would prove difficult.
On Monday, the company, which is based in Israel with U.S. headquarters in Eden Prairie, said quarterly revenue rose 40 percent to $217 million, while losses surged from $2 million a year ago to $92 million, or $1.81 a share, for the October to December quarter.
Excluding MakerBot's charge, it earned $24.9 million, or 48 cents a share, in line with analysts' revised expectations.
For the full fiscal year, Stratasys lost $119.4 million, or $2.39 a share. That's up from a $27 million loss a year go. Excluding the MakerBot charge and other one-time items, adjusted earnings were $103.4 million, or $2 a share, and in line with analysts' revised estimates.
Stratasys shares rose 83 cents a share to close at $62.90 Monday. That's far from its 52-week high of $130.83 a share. The stock had been trading near $80 a share. But it fell a dramatic 28 percent in a single day on Feb. 2, the day Stratasys surprised Wall Street with news of its MakerBot charge. The stock is slowly recovering.
Stratasys CEO David Reis told analysts Monday that "during the fourth quarter, MakerBot was affected by challenges associated with the introduction and scaling of its new product platform and its rapidly evolving distribution model." That model is newly selling MakerBot desktop 3-D printers at Home Depot, Staples, Amazon.com and Sam's Club. The prior model relied on Web-based sales and three retail stores.