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Monday, November 10, 2014

3D Systems Reports Third Quarter and Nine Months 2014 Financial Results

3D Systems announced today that its third quarter revenue grew $31.2 million, or 23%, from the prior year to $166.9 million on strong demand for its design, manufacturing and healthcare products and services, resulting in third quarter GAAP earnings of $0.03 per share and non-GAAP earnings of $0.18 per share. For the nine months ending September 30, 2014, revenue grew $107.6 million, or 30%, to $466.2 million, resulting in GAAP earnings per share of $0.09 per share and non-GAAP earnings per share of $0.48 per share.

The company’s order book increased by $14 million, or 44% sequentially, to $46 million and included a $4 million increase in printer orders in hand compared to the second quarter order book, further reflecting the robust demand for 3DS' products and services.

Strengthening demand for the company's design and manufacturing products was not enough to overcome the revenue shortfall that resulted from the company's continued manufacturing constraints for direct metal printers and the delayed availability of its newest consumer products. This restricted the company’s organic growth rate to 12% for the quarter.

"We are pleased that strengthening demand led to a 57% organic increase in unit sales of our design and manufacturing printers, but are disappointed that we failed to fully capitalize on the robust demand for our direct metal and consumer products," said Avi Reichental, 3DS' President and Chief Executive Officer. "Despite our efforts, we were not able to deliver these direct metal and consumer products as soon as we anticipated. Now that these availability gaps have been resolved, we expect our revenue growth rate to increase."

To view an unabridged version of this press release, visit: http://www.3dsystems.com/press-releases/3d-systems-reports-third-quarter-and-nine-months-2014-financial-results

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