The first business day after the holiday weekend was not a merry one for Stratasys Ltd.
Company stock fell 6 percent after news that a rival company in the 3-D printing business has decided to discontinue production of its entry-level consumer printer.
The company, 3D Systems of Rock Hill, S.C., announced that it will stop making its $999 3-D printer, the Cube, three years after entering the field. The company said in a statement that it was shifting away from consumer products but will continue production of CubePro, a 3-D printer designed for desktop engineering, educational and professional applications.
"We believe that the most meaningful opportunities today are in professional and industrial settings, from the product design shop to the operating room to the factory floor," said Andy Johnson, 3D Systems interim CEO and chief legal officer.
Officials at Stratasys, based in Eden Prairie and Israel, were unavailable for comment.
The announcement was the latest wave in a sea of troubles for the 3-D printing industry. Just two years ago, sales and profits were growing sharply, but manufacturers around the world have cut purchases of capital equipment. And more companies such as Hewlett-Packard Co. and Autodesk have started making 3-D printers.
Lack of significant spending in research and development, new software and faster machines has also hurt the companies, analysts said.
The devices can form plastic objects of any shape by taking orders from computer design software and are used by factories, artists and many businesses that need to change prototypes and parts quickly.
