Stratasys raises full-year profit, revenue forecast

(Reuters) - 3D printer maker Stratasys Ltd raised its forecast for 2014 adjusted profit and revenue after reporting better-than-expected quarterly results.

Stratasys shares were up 14 percent in premarket trading.

The company, which has traditionally focused on large industrial printers that sell for $15,000 ( 8,912.77 pounds) – $750,000, said it now expects full-year adjusted profit of $2.25-$2.35 per share on revenue of $750 million-$770 million.

It had earlier forecast an adjusted profit of $2.15-$2.25 per share on revenue of $660 million-$680 million.

Analysts on average were expecting a profit of $2.20 per share on revenue of $682.5 million, according to Thomson Reuters I/B/E/S.

Solid Concepts and Harvest Technologies — two companies it acquired recently — will add modestly to 2014 earnings, Stratasys Chief Executive David Reis said in a statement on Thursday.

MakerBot, a privately held company Stratasys acquired last year, was acquiring some assets of Germany-based partner Hafner's Buero, the company said. MakerBot launched its operations in Europe this month.

MakerBot branded products and services contributed $33.6 million to Stratasys's net revenue, which soared 68 percent to $178.5 million, in the second quarter ended June 30.

Net loss attributable to Stratasys narrowed to $173,000, or break even on a per share basis, from $2.8 million, or 7 cents per share.

Excluding items, the company earned 55 cents per share.

Analysts had expected a profit of 45 cents per share on revenue of $156.6 million.

Stratasys shares had closed at $98.91 on the Nasdaq on Wednesday.

(Reporting By Subrat Patnaik; Editing by Saumyadeb Chakrabarty)