Stratasys, Inc. reported record revenue of $43.6 million for the fourth quarter ended December 31, 2011, a 28% increase from the $34.0 million for the same period last year. System shipments totaled 700 units for the fourth quarter of 2011, compared to 632 units for the same period last year.
The company reported net income of $5.8 million for the fourth quarter, or $0.27/share, representing a 34% increase over the net income of $4.3 million, or $0.20/share, for the same period last year.
Non-GAAP net income was $6.6 million for the fourth quarter, or $0.31/share, representing a 49% increase over the non-GAAP net income of $4.4 million, or $0.21/share, for the same period last year.
Solidscape Inc., acquired by Stratasys in May of 2011, contributed $3.2 million to revenue and 68 system sales and was accretive to net income during the fourth quarter of 2011.
The company reported revenue of $155.9 million for the twelve-month period ended December 31, 2011, compared to $117.8 million for the same period in 2010.
System shipments totaled 2,602 units for the twelve-month period in 2011, compared to 2,555 units for the same period last year.
"The fourth quarter represented a strong finish to 2011," said Scott Crump, chairman and chief executive officer of Stratasys. "The quarter and full year results are record performances for both revenue and operating profit. The sales momentum was particularly strong during the final weeks of the year, resulting in a record year-end backlog, which includes over $12 million in system orders. Consequently, we are well positioned as we begin 2012.”