After 3D Systems lowered its expectations for earnings per share for the last quarter of 2013 this morning, its stocks took a dive, bringing fellow 3D printing companies like Stratasys and Voxeljet down as well. 3D Systems was down 27.4 percent this morning and has since bounced back a little bit to being down 15.07 percent, closing at $64.34. The company lowered its expectations after higher than expected spending on research and development, sales and marketing expenses and acquisition concentration costs.
3D Systems Corp slashed its profit estimate for 2013, reviving fears of a bubble in the 3D printing industry and sending its shares down as much as 28 percent. Shares of other 3D printer makers also fell sharply after the profit warning from the largest listed 3D printer maker, which along with rival voxeljet AG has been the target of short-seller Citron Research. 3D Systems cut its 2013 adjusted profit estimate to 83-87 cents per share from 93 cents-$1.03, citing higher spending on research, manufacturing and marketing. The company also forecast adjusted earnings for 2014 below the average analyst estimate.