Stratasys SSYS came up with impressive third-quarter 2021 results, wherein the top and bottom lines surpassed the respective Zacks Consensus Estimate and marked significant year-over-year improvements as well. The 3D maker posted non-GAAP earnings of a penny per share, which fared better than the year-ago quarter’s loss of 5 cents as well as the Zacks Consensus Estimate of loss of 8 cents per share.Stratasys’ revenues jumped 24.3%, year over year, to $159 million and outpaced the consensus mark of $150.5 million. This year-over-year growth in the top line reflects strength in the Systems and Consumables performance.Quarter in DetailSegmentwise, Product revenues were up 30.3% from the year-ago quarter to $108.9 million. Within Product revenues, System revenues climbed 34.7%,and Consumables revenues jumped 26.6% year over year.Revenues from Services increased 13% year on year to $50.1 million. Within Service revenues, customer support revenues advanced 7.2%, year over year.Stratasys, Ltd. Price, Consensus and EPS Surprise Stratasys, Ltd. price-consensus-eps-surprise-chart | Stratasys, Ltd. QuoteStratasys’ non-GAAP gross profit increased 16.9% from the year-ago period to $76.7MILLION. The non-GAAP gross margin expanded 140 basis points (bps) to 48.2%, mainly driven by a higher mix of Systems and Consumables revenues in sales. However, the company saw rising logistic costs and product-introduction related expenses continued to hurt the gross margin.The non-GAAP operating expenses flared up 23.2%, year on year, to $74.9 million. However, as a percentage of revenues, it shrunk 50 bps to 47.1%. The company’s cost-containment efforts helped minimize expenses as a percentage of revenues.The non-GAAP operating income totaled $1.8 million compared with the operating loss of $1 million seen in the prior-year quarter.The company exited the third quarter with cash and short-term deposits of $308.2 million compared with the $522.7 million witnessed at the end of the previous quarter.As of Sep 30, 2021, there was no long-term debt.During the July-September quarter, the company generated operating cash flow of $3 million.Business OutlookFor the fourth quarter, management projects revenues to be up approximately 16% on a year-over-year basis.Furthermore, Stratasys estimates the 2021 operating expenses to flare up $36 million from the 2020 level, chiefly due to fully owning Xaar 3D and elevated operating costs associated with higher revenues.Zacks Rank &Stocks to ConsiderStratasys currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the broader technology sector include Applied Materials AMAT, Broadcom AVGO and Perficient PRFT, all carrying a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The long-term earnings growth rate for Applied Materials, Broadcom and Perficient is currently pegged at 19.4%, 15% and 18%, respectively. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100S of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Stratasys, Ltd. (SSYS): Free Stock Analysis Report Applied Materials, Inc. (AMAT): Free Stock Analysis Report Broadcom Inc. (AVGO): Free Stock Analysis Report Perficient, Inc. (PRFT): Free Stock Analysis Report To read this article on Zacks.com click here.