Monday, May 10, 2010 5:00 AM
ROCK HILL, South Carolina – May 5, 2010 - 3D Systems Corporation (NASDAQ: TDSC) announced today that it earned 9 cents per share during the first quarter on a 32% revenue increase, 37% gross profit improvement and 4% lower operating expenses compared to the first quarter of 2009.
The company reported that its $2.0 million net income for the quarter included $1.8 million of non-cash expenses primarily related to depreciation and amortization expense.
“We are pleased with the continued revenue recovery and improved earnings from the operating leverage in our P&L,” said Abe Reichental, 3D Systems’ President and Chief Executive Officer.
Systems revenue increased by $3.9 million compared to the 2009 quarter with 3-D Printer sales accounting for 54% of all systems revenue.
Materials sales grew by $3.0 million over the first quarter of 2009, indicating a continued recovery across the installed base.
The company reported 45% gross margin for the first quarter of 2010.
“We are pleased with our improving results and remain confident in our ability to execute on our strategic plans and provide value to our customers and stockholders,” concluded Reichental.
Conference Call and Audio Webcast Details
3D Systems will hold a conference call and audio webcast to discuss its operating results for the first quarter of 2010 on Wednesday, May 5, 2010 at 9:00 a.m., Eastern Time.
- To access this Conference Call, dial 1-888-336-3485 (or 706-634-0653 from outside the United States). The confirmation code is 700-488-32.
- To access the audio webcast, log onto 3D Systems’ Web site at www.3dsystems.com/ir. To ensure timely participation and technical capability, we recommend logging on a few minutes prior to the conference call to activate your participation. The webcast will be available for replay beginning approximately three hours after completion of the call at: www.3dsystems.com/ir.
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forwardlooking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results expressed or implied by such forwardlooking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as “believes,” “belief,” “expects,” “estimates,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. Forward-looking statements may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings “Forward-Looking Statements,” “Cautionary Statements and Risk Factors,” and “Risk Factors” in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements.
About 3D Systems Corporation
3D Systems is a leading provider of 3-D Printing, Rapid Prototyping and Manufacturing systems and parts solutions. Its expertly integrated solutions reduce the time and cost of designing products and facilitate direct and indirect manufacturing by creating actual parts directly from digital input. These solutions are used for design communication and prototyping as well as for production of functional end-use parts: Our customers Create With Confidence.
More information on the company is available at www.3DSystems.com, www.modelin3D.com, www.toptobottomdental.com, www.3Dproparts.com, www.dpt-fast.com ,www.mqast.com, http://blog.3Dsystems.com, or via email at moreinfo@3Dsystems.com.
(See the attached PDF for summary tables.)