Arcam Reports 125% Revenue Growth for 3rd Quarter, Shares up Nearly 27%
While the majority of stocks related to additive manufacturing are down from their highs earlier in the year, this is mainly due to the over-exuberance by investors late last year and into the start of 2014. Most of the major companies within the sector are doing quite well, with year-over-year growth on both their top and bottom lines.
One example of such, is Swedish-based company Arcam, who reported their third quarter financial results this morning. After a 4.5% drop in share price yesterday within the US markets, Arcam’s stock is up nearly 27% today on the Stockholm Stock Exchange, after a blowout report from the company.
Analysts had been expecting, on average, a reported operating profit for the quarter of around $431,000, while the company surprised to the upside, reporting a $600,000 profit. Additionally, analysts were looking for revenues to come in at around $9.8 million, while Arcam blew away these estimates, reporting $12.7 million in revenue for the third quarter.
Compared to quarter three of last year, the company has shown year-over-year revenue growth of 125%, while obtaining new clients, and growing their overall sales channels.
Arcam, which specializes in the production of machines capable of printing objects in a variety of metal alloys, has over 50 patents to its name. Using Electron Beam Manufacturing (EBM), among other technologies, Arcam offers a variety of products and services within the additive manufacturing industry.
Highlights from this past quarter include the acquisition of contract manufacturer DiSanto Technology Inc. and the delivering of 9 EBM systems to clients, the majority within the aerospace and medical implant industries.
According to the company’s release today, “A strong order book and a positive business situation lay a solid foundation for a strong closing of 2014 and continued growth in 2015.”
After seeing a drop in share price of nearly 40% for the year, today’s news has allowed shares to rebound significantly, regaining much of those loses. Are you a shareholder of Arcam (NASDAQ:AMAVF) (STO:ARCM)? Discuss their latest report in the Arcam Q3 earnings forum thread on 3DPB.com.
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