Things are looking good for Israeli 3D printing company Stratasys as the firm has announced better than expected second quarter earnings while opening a new plant in Kiryat Gat, Israel.
New 3D technologies are making it cheaper and easier to produce many items such as parts for machines and even artificial bones for procedures like hip replacements.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
Founded in 1989, Stratasys manufactures 3D printing equipment and materials that create physical objects directly from digital data. Its systems range from affordable desktop 3D printers to large, advanced 3D production systems.
The company says that the new Kiryat Gat plant is the world’s most advanced for the manufacture of 3D printers. It is expected to offer hundreds of new jobs to Israelis who live in the south of their country where the economy is not as strong as in the greater Tel Aviv area.
Israel’s Minister of Finance, Yair Lapid, attended a special ribbon cutting ceremony to officially open the factory. There he stated, “The opening of the facility marks an important milestone for Stratasys as part of our commitment to manufacturing high quality 3D printers and materials. The new facility will enable us to respond to increasing demand, will improve the quality of production, and will improve the working environment and conditions of the production team.”
Ilan Levi, the company’s director, said, “The opening of the facility marks an important milestone for Stratasys as part of our commitment to manufacturing high quality 3D printers and materials. The new facility will enable us to respond to increasing demand, will improve the quality of production, and will improve the working environment and conditions of the production team.”
Stratasys has also announced that its second quarter earnings were its best in ten years, in part thanks to the high sales of its MakerBot products and services. Its revenue doubled in the second quarter and its net revenue increased by 68% to $178.5 million. The company’s services business contributed about 14% to the net revenue. Stratasys also posted an earnings per share of $0.55, beating the estimated $0.45 per share.
The company’s stock rose 18% after the good news was revealed.
In other Stratasys news it recently acquired GrabCAD, a Cambridge, Massachusetts based startup that produces collaborative product development software for engineering teams to manage and share CAD files, for $100 million in cash.
