Stratasys Releases Preliminary Q3 Results

3D printing company Stratasys (NASDAQ:SSYS) has released its preliminary Q3 results.
According to the press release:

The Company expects to report third quarter revenue in the range of $166 to $168 million, and non-GAAP net income (loss) in the range of ($1.5) to $1.0 million, or ($0.03) to $0.02 per diluted share.
The Company expects to report a GAAP net loss in the range of ($190) to ($155) million, or ($3.66) to ($2.98) per share, which includes non-cash, goodwill and other intangible asset impairment charges of approximately $140 to $180 million for its MakerBot reporting unit. In addition, the Company is in the process of performing a goodwill impairment analysis for its other reporting units, which may result in additional impairment charges.
These are preliminary results based on current expectations and are subject to quarter-end closing adjustments. Actual results may differ.
The Company’s third quarter performance is believed to reflect a continuation of the macro-economic environment that impacted results across all regions and most product and service lines during the first half of 2015, and is believed to be driven primarily by weak investment in capital equipment by customers within key verticals. In addition, the Company believes that during 2013 and 2014, Stratasys and the overall 3D printing industry experienced a period of extraordinary growth that may have created excess capacity in the market, and that this is contributing to the current slowdown as that excess is worked off. Reflecting the low visibility of the current market environment, typical order trends did not materialize as expected at the end of the quarter.

Click here to read the full press release from Stratasys.