The ExOne Company today reported a wider first quarter loss on an 8 percent drop in revenue, falling well short of analyst expectations.
The North Huntingdon 3-D printing company said it lost $5.5 million, or 38 cents per share, on revenue of $7.3 million vs. a loss of $1.9 million, or 20 cents per share, and revenue of $7.9 million in the year-ago quarter.
Analysts were expecting a loss of 12 cents per share and sales of $9.7 million.
The company blamed the performance on lower equipment sales and higher costs for research and development and other items. It said quarter-to-quarter fluctuations in equipment sales are not necessarily indicative of longer term trends.
ExOne reaffirmed its 2014 revenue guidance, saying revenue will grow 40 percent to 50 percent this year. That would result in revenue of $55 million to $60 million.
The results were released after the market closed. ExOne shares finished today at $30.83, up 62 cents. They were off in after hours trading.
The stock is down 49 percent this year.
Len Boselovic: 412-263-1941 or firstname.lastname@example.org.