Kornit Digital Ltd. (NASDAQ:KRNT) 3Q19 Earnings Drop, Miss Market Expectation

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Kornit Digital Ltd. (NASDAQ:KRNT) declared third quarter financial results after market close today.

The company outlined income of $ 1.96 million or $ 0.05 per share, fell 44.44 percent compared with income of $ 3.11 million or $ 0.09 per share, a year ago period.

On adjusted basis, KRNT posted Non-GAAP net income of $ 3.88 million or or $ 0.09 per share

The total revenue for the third quarter boosted 18.60 percent to $ 44.58 million from $ 37.59 million in the same quarter last year

According to street consensus, KRNT was expected to report 3Q19 income of $ 0.18 per share from total revenue of $ 49.07 million.

Analysts estimates are from Thomson Reuters, exclude one time gain or loss.

Ronen Samuel, Chief Executive Officer, said, We are very pleased with our third quarter results as we continue to deliver robust top-line growth driven by our new product introductions, including the innovative and market-leading Atlas, Poly Pro, and Presto systems.

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