VALENCIA, Calif., Nov. 10, 2003 -
3D Systems Corp. (NASDAQ: TDSC) announced today its results for the third quarter and first nine months of 2003.
Revenues for the quarter ended September 26, 2003 were $24.9 million compared with revenues of $27.9 million in the third quarter of 2002, a decrease of 11%. Operating loss was $3.5 million compared with an operating loss of $5.7 million in the 2002 period. Net loss available to common shareholders for Q3 2003 was $4.3 million or $.34 per fully diluted share compared with a net loss available to common shareholders of $2.2 million or $.17 per fully diluted share in the prior year period.
Revenues for the first nine months of 2003 were $74.8 million compared with revenues of $84 million in the 2002 nine month period, a decrease of 11%. Operating loss for the first nine months of 2003 was $11.0 million compared with an operating loss of $18.7 million in the 2002 period. Net loss available to common shareholders for the first nine months of 2003 was $14.9 million or $1.17 per fully diluted share compared with net income available to common shareholders of $850,000 or $.06 per fully diluted share in the first nine months of 2002. Included in the results for the 2002 nine month period was a gain of $18.5 million as a result of the Vantico arbitration settlement.
“The end of the third quarter, marked the conclusion of a chapter in the history of our company,” said Abe Reichental, 3D Systems President and CEO. “During my first 45 days at 3D Systems, I have reached out to a number of our loyal customers and met or spoke with many of our outstanding employees and investors. I came away confident in our ability to leverage all of our privileged assets to deliver to our customers a steady stream of differentiated value-added system solutions centered on improving our customers’ bottom line,” continued Reichental. “I truly appreciate all of the support given to me and the company during this transition period and look forward to updating you on our immediate plans as the fourth quarter unfolds.”
3D Systems will hold a conference call to discuss Q3 2003 results today at 4:30 p.m. Eastern Standard Time (1:30 p.m. Pacific Standard Time). To access the call, dial 877/613-8341 or 706/679-7620 internationally. A recording of the call will be available two hours after the completion of the call for 7 days. To access the recording, dial 800/642-1687 or 706/645-9291 internationally and enter 3789294, the conference call ID number.
About 3D Systems
Founded in 1986, 3D Systems®, the solid imaging companySM, provides solid imaging products and systems solutions that reduce the time and cost of designing products and facilitate direct and indirect manufacturing. Its systems utilize patented proprietary technologies to create physical objects from digital input that can be used in design communication, prototyping, and as functional end-use parts.
3D Systems offers a wide range of imaging communication, rapid prototyping and on demand manufacturing systems including the MJM product line (InVision 3-D printer and ThermoJet® solid object printer), SLA® (stereolithography) systems, SLS® (selective laser sintering) systems, and Accura® materials (including photopolymers, metals, nylons, engineering plastics, and thermoplastics).
More information on the company is available at www.3dsystems.com, or by phoning 888/337-9786, or 661/295-5600 ext. 2882 internationally, or email moreinfo@3dsystems.com.
Note to editors: “the solid imaging company” is a service mark; and ThermoJet, SLA, SLS, Accura, 3D Systems and the 3D logo are registered trademarks of 3D Systems Inc.
Certain statements in this news release may include forward-looking statements that express the expectation, prediction, belief or projection of 3D Systems. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance and achievement of 3D Systems to be materially and adversely different from any future results, performance or achievement expressed or implied by these forward-looking statements. Factors that may cause actual results to differ from the forward-looking statements contained in this release and that may affect the company's prospects in general include, but are not limited to; disruption caused by the reconfiguration of the management team, the ability of the Company to refinance its obligations to U.S. Bank by November 28, 2003; the funding of amounts of capital adequate to provide for the working capital needs of the Company; actions of competitors and customers; the Company's ability to successfully design and produce new products; customer acceptance of new products; the Company's ability to enter into successful relationships with new customers to fully exploit its products; the Company's ability to successfully implement all elements of its restructuring and cost savings program, and such other factors as are described in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to update any forward-looking statements.
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