What's Happening: Stratasys (NASDAQ:SSYS) shares closed the day down 10.5%, though they had been more than 16% in the red in earlier trading. 

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Why It's Happening: The leading 3-D printing company reported second-quarter results before the market opened today. Revenue and earnings both met analysts' estimates. However, Stratasys withdrew its full-year 2015 guidance due to its lack of visibility into near-term customer demand, and issued a third-quarter outlook that fell significantly short of what analysts were forecasting. Thus, the reasons for the 11% stock-price haircut.

Stratasys reported a 2% year-over-year rise in revenue to $182.3 million, in line with the $182.3 million average analyst forecast. Earnings on a non-generally accepted accountings principles basis fell 73% to $0.15, hitting the consensus on the bull's-eye. The company posted a GAAP earnings loss of $0.55 per share.

MakerBot's continued struggles weighed heavily on Stratasys' results, as the desktop 3-D printer maker's year-over-year revenue plummeted 57%. Stratasys, however, remains confident that the MakerBot reorganization and turnaround will result in its growth rates ramping up to, or exceeding, overall company averages by 2016. Meanwhile, the company's enterprise business continued to face challenges involving a tightening of capital spending among businesses, currency headwinds, and a particularly tough macroeconomic climate in Asia.

Stratasys' product revenue fell nearly 13% to $134.5 million, largely due to MakerBot's poor results. Service revenue nearly doubled to $47.8 million, thanks primarily to the acquisitions of Solid Concepts and Harvest Technologies in the third quarter of last year.

There were bright spots amid the overall weak results: Customer support revenue -- a recurring revenue stream -- rose 17%. Demand for high-end enterprise systems strengthened from last quarter, helping to boost overall sequential gross profit margin 600 basis points to 54.7%.

While Stratasys did withdraw full-year guidance, it provided its outlook for the third quarter: Revenue in the range of $175 million to $190 million; non-GAAP earnings of $0.03 to $0.13 per share, and a GAAP earnings loss between $0.52 and $0.43 per share. Analysts were looking for adjusted earnings of $0.47 per share on revenue of $216.5 million.

CEO David Reis commented: "We believe our industry is transitioning through a period of slower growth, as users digest their investments in 3D printing and expand the utilization of recently acquired capacity. Despite these headwinds, and certain ongoing macroeconomic challenges in Asia, we are encouraged by sequential improvement in areas of our business, and remain optimistic about our longer-term growth prospects."

Beth McKenna has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Stratasys. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.