3D systems closed at $64.10, down $11.66 (15.39%) while SSYS was down 6.17% at $110.75. Arcam was down 6.54% at $43.74.
From Reuters:
3D Systems Corp slashed its profit estimate for 2013, reviving fears of a bubble in the 3D printing industry and sending its shares down as much as 28 percent.
Shares of other 3D printer makers also fell sharply after the profit warning from the largest listed 3D printer maker, which along with rival voxeljet AG has been the target of short-seller Citron Research.Earlier:
3D Systems cut its 2013 adjusted profit estimate to 83-87 cents per share from 93 cents-$1.03, citing higher spending on research, manufacturing and marketing.
The company also forecast adjusted earnings for 2014 below the average analyst estimate.
Shares of 3D printer makers have had a good run over the past couple of years as the companies adapt to the consumer market a technology used by manufacturers for decades.
The technology was highlighted by U.S. President Barack Obama in his State of the Union address last year, when he said it had "the potential to revolutionize the way we make almost everything." (link.reuters.com/fuw85t)
However, 3D Systems said on Wednesday demand for its consumer printers was softer than its expectation during the fourth quarter, while demand for its professional printers was stronger.
Citron Research last year accused the chief executive of 3D Systems of exaggerating advances in the technology and contributing to a bubble in shares of companies in the sector.
Citron also questioned voxeljet's first-quarter results, saying the company extended loans to customers to generate sales and avoid posting a loss.
Stratasys Ltd shares fell 12 percent on Wednesday, Exone Co dropped 13 percent and voxeljet fell about 10 percent.
3D Systems shares have gained 60 percent in the past six months, while Stratasys jumped 31 percent. Voxeljet shares doubled on their market debut on October 18.
PRINTING GROWTH
3D Systems said it was willing to tolerate earnings reduction and gross profit margin compression in the near term to accelerate its growth rate and market share.
The company is positioned to double revenue over the next couple of years on organic growth of at least 30 percent, CEO Avi Reichental said in a statement....MORE
There's a Reason It's Called GLOBAL Macro: 3D Printing--Belgium's Materialise Buys Poland's Leading Rapid Prototyping Co.
See also last Friday's "Bloomberg Speculates On 3D Printing Co. Buyouts (DDD; SSYS; AMAVF)"
And dec. 4's "Whitney Tilson on Shorting 3D Systems (DDD)"
