3D Systems Corporation (NYSE:DDD) was not able to release its latest quarterly earnings results after hours Wednesday as the company faced a delay.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.
The 3D-printing company said that it is going through an accounting review, which prevented it from reporting on its fourth quarter and fiscal year 2017. The delay comes as the company says it needs more time to plan for new revenue-recognition parameters and how these relate to the company’s product warranties.
3D Systems says that it projects to report a net loss of 8 cents to 10 cents per share for its fourth quarter. On an adjusted basis, this will amount to earnings of 3 cents to 5 cents per share, which is stronger than the adjusted earnings of a penny per share that analysts are calling for in their consensus estimate, according to data compiled by FactSet.
The company also sees its quarterly sales as being in the range of $176 million to $178 million, which is also well above the Wall Street outlook of $162.1 million, according to data compiled by FactSet.
3D Systems said that its official earnings report will not come until March 14 as the company will be filing its delayed annual report then. However, it looks like the 3D-printing company had a strong quarter and year that will help it gain momentum through the new fiscal year.
DDD stock skyrocketed 17.4% after the bell Wednesday.