RTTNews | Nov 4, 2021 10:40AM EDT

10:39 Thursday, November 4, 2021 (RTTNews.com) - Shares of 3D printing solutions provider Stratasys Ltd. (SSYS) are up more than 20% on Thursday morning following better-than-expected third-quarter results.

The company's net loss narrowed to $18.1 million, or $0.28 per share in the third quarter, from net loss of $405.1 million, or $7.35 per share in the year-ago quarter.

Excluding one-time items, the company reported earnings of 0.5 million or $0.01 per share, that beat the average estimate of 9 analysts polled by Thomson Reuters at $0.05 loss per share.

Revenue for the quarter was $159 million compared with $127.9 million last year. The consensus estimate was for $150.08 million.

For the fourth quarter, Stratasys expects revenue to be 16% higher year-over-year , driven by continued growth in systems compared with Q4, 2020. Analysts see revenue growth of 13.1% for the period.

SSYS is at $38.68 currently. It has traded in the range of $12.84- $56.95 in the past 52 weeks.

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