(Reuters) - 3D printer maker 3D Systems Corp said it expected higher profits in 2015 as the company planned to “moderate its M&A activities” and focus on leveraging recently-acquired assets.
Shares of the company, which acquired software provider Cimatron, 3D printer products distributor Robtec and 3D printer maker botObjects in 2014, rose as much as 8 percent on Thursday.
3D Systems also forecast 2015 adjusted profit and revenue in line with analysts’ estimates.
Rival Stratasys Ltd forecast 2015 profit well below analysts’ expectations earlier this month and said it planned to raise spending to expand its product offerings.
“I think any outlook that allows estimates to be maintained is a solid outlook in the face of the big reduction we saw on Stratasys,” Canaccord Genuity analyst Bobby Burleson said.
Worldwide shipments of 3D printers are expected to more than double to 217,350 units this year from 108,151 units last year, market research firm Gartner said in October.
3D Systems forecast adjusted profit of 90 cents-$1.10 per share and revenue of $850 million-$900 million for this year.
The net income attributable to 3D Systems plunged about 86 percent to $1.6 million, or 1 cent per share, in the fourth quarter ended Dec. 31 as the company spent heavily on research and development, acquisitions and capacity expansion.
Excluding items, the company earned 21 cents per share.
Revenue rose 21 percent to $187.4 million.
Analysts on average had expected a profit of 24 cents per share and revenue of $202.3 million, according to Thomson Reuters I/B/E/S.
3D Systems shares were up 3.3 percent at $31 in noon trading on the New York Stock Exchange. Up to Wednesday’s close, the stock had fallen about 60 percent in the past 12 months.
Additional reporting by Anya George Tharakan in Bengaluru; Editing by Kirti Pandey