NORTH HUNTINGDON, Pa. (AP) — The ExOne Co.'s shares dropped sharply in after-hours trading Tuesday after the maker of 3-D printers reported a larger quarterly loss than expected.
Interest in three-dimensional printing is on the rise, which helped nearly double the company's revenue for its fiscal second quarter. But the market is still young and the company said that it expects its full-year revenue will come in the low-end of its prior guidance.
Shares of the company, which went public in February, lost nearly 17 percent after the results were released.
ExOne posted a loss of $1.1 million, or 8 cents per share, for the quarter that ended June 30. That compared with a loss of $3.6 million in the same quarter last year.
Revenue jumped to $9.2 million from $4.7 million.
Analysts, on average, were anticipating a loss of 6 cents per share, on revenue of $9.1 million, according to FactSet.
ExOne Chairman and CEO S. Kent Rockwell said that the results demonstrate the company's effective execution of its growth strategies and expects demand to continue to increase.
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