Stratasys Ltd. (NASDAQ: SSYS) has announced record financial results for the first quarter of 2013, encouraging a 3D printer stocky rally.
Stratasys earned 43 cents a share in the first quarter, an increase of 34 percent versus the same period a year ago. Revenue increased 118 percent to $98 million, fueled by recent acquisitions. And it was the 11th straight quarter of double digit growth.
Since Stratasys released the results, its stock price has rallied about 8 percent to reach $90.27 per share. The shares of other 3D printer companies including 3D Systems and ExOne also have rallied on the news as investors cheered the latest evidence that the technology continues to grow in popularity, according to Investors.com.
"Our record first quarter results reflect a continuation of the strong worldwide demand we are observing for our innovative products and services," said David Reis, chief executive officer of Stratasys.
In a post-earnings conference call with analysts, Reis said the interest in 3D printing has been driven largely by the mainstream media and their expanding coverage of the industry, adding that a significant branding campaign in the first quarter helped to raise awareness of the "new Stratasys" and its value proposition since closing the acquisition of Israel-based Objet for $1.4 billion last December.
Since the beginning of 2012, Stratasys shares are up approximately 185 percent.