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Just as 3-D is one of the fastest growing technologies, 3D Systems (NYSE: DDD) is one of the fastest growing tech stocks.
The manufacturer of 3-D printers saw its quarterly earnings beat analyst estimates yesterday, sending shares of the tech stock up 15% in the last two days. For the year, the stock is up a whopping 58%. The company’s revenue has nearly tripled over the last three years.
The South Carolina-based company prints 3-dimensional replicas of real parts taken directly from digital input. Recent acquisitions of fellow 3-D printer makers Z Corporation and Vidar, a medical optical imaging company, have expanded the company’s printing capabilities and boosted its stock price. The buyouts also open up whole new avenues for potential growth.
3D Systems’ Vidar acquisition is especially promising given the immense potential of 3-D printing in the medical world. One woman reportedly received a 3-D printed jawbone implant recently.
The company’s rapid growth was on full display in yesterday’s earnings report. It shipped 190% more printers in the fourth quarter than it did in the same quarter a year ago. For the year, printer sales were up 250% from 2010.
Those numbers may only grow with 3D Systems’ recent acquisitions.
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