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Stratasys reports record cash from 3D printer company's 2018 operations

The company generated $18.7 million in cash from operations during the quarter and a record $63.7 million for the full year
PolyJet printer
Stratasys is a component of the ROBO Global Robotics & Automation Index

Stratasys Ltd (NASDAQ:SSYS) said Thursday that it finished 2018 with record cash flow from operations.

The 3D printer company said it generated $18.7 million in cash from operations during the quarter and a record $63.7 million for the full year.

WATCH: ROBO Global seeing annual growth in last decade of well over 20%

“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,” Interim CEO Elchanan “Elan” Jaglom said in a statement.

Highlights for the Minneapolis- and Rehovot, Israel-based company include “positive traction” related to its PolyJet and FDM technology platforms, primarily in North America. That progress was offset partially by the impact of the US government shutdown and weakness in the European automotive industry, according to the company.

Stratasys reported fourth-quarter net income of $0.21 per share on revenue of $177.1 million, compared with $179.3 million a year earlier. For 2019, the company projected revenue of $670 million to $700 million and net income of $0.55 to $0.70 per diluted share. 

Shares of Stratasys fell $3.31 to $23.35 in Thursday’s early-afternoon Nasdaq trading.

ROBO Global index

Stratasys is a component of the ROBO Global Robotics & Automation Index, the world’s first benchmark index to track companies that focus on robotics, automation and artificial intelligence.

The company is helping companies in manufacturing and industrial automation to “unlock the value” being created at the convergence of the physical and digital worlds, ROBO Global said in an outlook report for 2019. The report said companies including Stratasys will act as a catalyst to create a “wave of new opportunities” this year.

The ROBO Global Robotics & Automation Index ETF (NYSEARCA:ROBO) was down about 2.1% to $37.75.

–This story was updated to cite ROBO Global's outlook report–

Contact Dennis Fitzgerald at [email protected]

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