RTTNews | Mar 1, 2021 10:00AM EST

10:00 Monday, March 1, 2021 (RTTNews.com) - Shares of Stratasys Ltd. (SSYS) are surging over 13% Monday morning, after the company reported a turnaround to profit for the fourth quarter. The stock, which has been trading in the range of $11.89 - $56.95 in the past one year, is currently trading at $39.24, up $4.75 or 13.77%, with trading volume is over 896K versus an average volume of 2.21 million shares.

The company reported Q4 GAAP net income of $11.0 million, or $0.20 per share, compared to a net loss of $2.8 million, or $0.05 per share last year.

Non-GAAP net income was $7.0 million, or $0.13 per share, compared to $10.0 million, or $0.18 per share in the prior year period. Revenue was $142.4 million, compared to $160.2 million last year.

Analysts polled by Thomson Reuters expected a breakeven per share on revenue of $135.34 million for the quarter. Analysts' estimate typically exclude certain special items.

Dr. Yoav Zeif, Chief Executive Officer of Stratasys, said, "Our results reflect the resilience and diversification of our business model. We delivered sequential revenue growth in the back half of the year and this quarter produced the highest operating cash flow in almost three years. We believe both our industry and company are starting to enter a meaningful, sustained trajectory of unprecedented growth and are excited to capitalize on the opportunities ahead."

Looking ahead, the company said it expects Q1 revenue to track relatively similar to the first quarter of 2020, and Q2 revenue to approximate mid-teens percentage growth year-over-year, assuming current consumption trends and the impact of the pandemic persist.

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