We have raised our 2012 earnings estimate a dime to $1.25 a share. Our sales estimate is unchanged at $185 million. The same mix of factors that helped Q4 are likely to boost income in the upcoming year. The intermediate outlook continues to look positive. Stratasys is the leading provider of 3D printing machines. The industry is expanding at a 20%-30% rate. Profitability is high. And new products are in the pipeline. The main risk facing Stratasys is that the company is moving too slowly to capture the immense opportunity 3D printing may hold. By going it alone the company may be exposed if larger players enter the industry. Establishing partnerships now could ensconce Stratasys as the center of the industry over the long haul. The key is likely to be input materials. If the company can join forces with gigantic metal and plastic producers to expand the number of products its systems can produce, who knows, this could be the next Microsoft.
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