CIMdata PLM Industry Summary Online Archive
30 April 2013
Financial News
3D Systems Reports Q1 2013 Results
3D Systems Corporation announced non-GAAP earnings of 21 cents per share for the first quarter of 2013 and GAAP earnings of 6 cents per share.
The company reported that its first quarter revenue grew 31% from the prior year to $102.1 million on a 61% increase in printers’ and other products revenue and 22.1% overall organic growth. Gross profit increased 38% and gross profit margin expanded 250 basis points to 52.4%, contributing to non-GAAP net income improvement of 43% over the 2012 quarter to $18.9 million, and GAAP net income of $5.9 million.
“We are very pleased to report outstanding quarterly results on higher printers’ sales,” said Avi Reichental, 3D Systems’ President and Chief Executive Officer. We believe that the vibrancy of our diversified portfolio, productivity of our channels and effectiveness of our strategic growth initiatives will continue to fuel our progress and results.”
3D printers and other products revenue increased $15.0 million to $39.7 million on 81% higher printer units and the addition of 3D authoring tools. Print materials revenue grew $4.1 million over 2012 to $28.7 million and services revenue rose $5.1 million over 2012 to $33.6 million.
During the first quarter of 2013, the company introduced significant new products including personal and professional 3D printers, powerful designer software packages and exciting consumer apps. The company increased its R&D expenditures by $1.6 million compared to last year in support of its expanded product portfolio and extended its sales channels and printer manufacturing capacity.
The company ended the first quarter with $110.5 million in cash, driven by $10.7 million of cash from operations.
“We continue to experience positive sales momentum that is shaped primarily by increased demand from advanced manufacturing activities. While we may face lingering economic uncertainties in parts of the world, we expect to continue to benefit from robust R&D and manufacturing spending by our customers worldwide,” concluded Reichental.
Conference Call and Webcast Details
3D Systems will hold a conference call and webcast to discuss its operating results for the first quarter 2013 on Tuesday, April 30, 2013 at 9:00 a.m., Eastern Time.
- To access this webcast, log onto 3D Systems’ web site at investor.3dsystems.com. To ensure timely participation and technical capability, we recommend logging on a few minutes prior to the conference call to activate your participation.
- To access this conference call, dial 1-866-318-8616 from in the U.S. or 1-617-399-5135 from outside the U.S. and enter participant code 19084856.
- The webcast will be also be available for replay beginning approximately two hours after completion of the call at: investor.3dsystems.com.
To view an unabridged version of this press release, visit: 3d_systems_reports_first_quarter_results_-_final.pdf
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