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3D Systems Corporation
Schedule 1 Earnings (Loss) Per Share Quarter and Nine Months Ended September 30, 2016 and 2015 | |||||||||||||||||||
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Quarter Ended
September 30, |
Nine Months Ended
September 30, | ||||||||||||||||||
| (in thousands, except per share amounts) | 2016 | 2015 | 2016 | 2015 | |||||||||||||||
| Numerator for basic and diluted net loss per share: | |||||||||||||||||||
| Net loss attributable to 3D Systems Corporation | $ | (21,213 | ) | $ | (32,249 | ) | $ | (43,649 | ) | $ | (59,126 | ) | |||||||
| Denominator for basic and diluted net loss per share: | |||||||||||||||||||
| Weighted average shares | 111,008 | 112,010 | 111,194 | 111,920 | |||||||||||||||
| Net loss per share, basic and diluted | $ | (0.19 | ) | $ | (0.29 | ) | $ | (0.39 | ) | $ | (0.53 | ) | |||||||
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3D Systems Corporation
Schedule 2 Unaudited Reconciliations of GAAP to Non-GAAP Measures Quarter and Nine Months Ended September 30, 2016 and 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Quarter Ended September 30, 2016 | Quarter Ended September 30, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||
| Adjustments | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
| (in thousands, except per share amounts) | GAAP | Amortization and Stock-Based Compensation | Legal and Acquisition-Related | Portfolio Re-alignment | Non-GAAP | GAAP | Amortization and Stock-Based Compensation | Legal and Acquisition-Related | Portfolio Re-alignment | Non-GAAP | ||||||||||||||||||||||||||||||||||||||
| Revenue | $ | 156,362 | $ | — | $ | — | $ | — | $ | 156,362 | $ | 151,574 | $ | — | $ | — | $ | — | $ | 151,574 | ||||||||||||||||||||||||||||
| Cost of sales | 87,425 | (83 | ) | — | (10,723 | ) | 76,619 | 80,536 | (81 | ) | — | — | 80,455 | |||||||||||||||||||||||||||||||||||
| Gross profit | 68,937 | 83 | — | 10,723 | 79,743 | 71,038 | 81 | — | — | 71,119 | ||||||||||||||||||||||||||||||||||||||
| Gross profit margin | 44.1 | % | 51.0 | % | 46.9 | % | 46.9 | % | ||||||||||||||||||||||||||||||||||||||||
| Operating expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||
| Selling, general and administrative | 64,814 | (18,286 | ) | (1,781 | ) | (35 | ) | 44,712 | 83,212 | (24,562 | ) | (11,971 | ) | — | 46,679 | |||||||||||||||||||||||||||||||||
| Research and development | 26,140 | — | — | (6,072 | ) | 20,068 | 22,463 | — | — | — | 22,463 | |||||||||||||||||||||||||||||||||||||
| Total operating expenses | 90,954 | (18,286 | ) | (1,781 | ) | (6,107 | ) | 64,780 | 105,675 | (24,562 | ) | (11,971 | ) | — | 69,142 | |||||||||||||||||||||||||||||||||
| Income (loss) from operations | (22,017 | ) | 18,369 | 1,781 | 16,830 | 14,963 | (34,637 | ) | 24,643 | 11,971 | — | 1,977 | ||||||||||||||||||||||||||||||||||||
| Interest and other expense, net | 1,624 | — | — | — | 1,624 | 1,373 | — | — | — | 1,373 | ||||||||||||||||||||||||||||||||||||||
| Income (loss) before income taxes | (23,641 | ) | 18,369 | 1,781 | 16,830 | 13,339 | (36,010 | ) | 24,643 | 11,971 | — | 604 | ||||||||||||||||||||||||||||||||||||
| Provision (benefit) for income taxes (a) | (2,214 | ) | — | — | — | (2,214 | ) | (3,524 | ) | 2,411 | 1,171 | — | 58 | |||||||||||||||||||||||||||||||||||
| Net income (loss) | (21,427 | ) | 18,369 | 1,781 | 16,830 | 15,553 | (32,486 | ) | 22,232 | 10,800 | — | 546 | ||||||||||||||||||||||||||||||||||||
| Less: net loss attributable to noncontrolling interests | (214 | ) | — | — | — | (214 | ) | (237 | ) | — | — | — | (237 | ) | ||||||||||||||||||||||||||||||||||
| Net income (loss) attributable to 3D Systems Corporation | $ | (21,213 | ) | $ | 18,369 | $ | 1,781 | $ | 16,830 | $ | 15,767 | $ | (32,249 | ) | $ | 22,232 | $ | 10,800 | $ | — | $ | 783 | ||||||||||||||||||||||||||
| Net income (loss) per share available to 3D Systems Corporation common stockholders — basic and diluted | $ | (0.19 | ) | $ | 0.14 | $ | (0.29 | ) | $ | 0.01 | ||||||||||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2016 | Nine Months Ended September 30, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||
| Adjustments | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||
| (in thousands, except per share amounts) | GAAP | Amortization and Stock-Based Compensation | Legal and Acquisition-Related | Portfolio Re-alignment | Non-GAAP | GAAP | Amortization and Stock-Based Compensation | Legal and Acquisition-Related | Portfolio Re-alignment | Non-GAAP | ||||||||||||||||||||||||||||||||||||||
| Revenue | $ | 467,028 | $ | — | $ | — | $ | — | $ | 467,028 | $ | 482,800 | $ | — | $ | — | $ | — | $ | 482,800 | ||||||||||||||||||||||||||||
| Cost of sales | 240,167 | (248 | ) | — | (10,723 | ) | 229,196 | 251,151 | (232 | ) | — | — | 250,919 | |||||||||||||||||||||||||||||||||||
| Gross profit | 226,861 | 248 | — | 10,723 | 237,832 | 231,649 | 232 | — | — | 231,881 | ||||||||||||||||||||||||||||||||||||||
| Gross profit margin | 48.6 | % | 50.9 | % | 48.0 | % | 48.0 | % | ||||||||||||||||||||||||||||||||||||||||
| Operating expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||
| Selling, general and administrative | 202,009 | (54,693 | ) | (4,491 | ) | (35 | ) | 142,790 | 237,242 | (76,458 | ) | (17,147 | ) | — | 143,637 | |||||||||||||||||||||||||||||||||
| Research and development | 67,345 | — | — | (6,072 | ) | 61,273 | 70,410 | — | — | — | 70,410 | |||||||||||||||||||||||||||||||||||||
| Total operating expenses | 269,354 | (54,693 | ) | (4,491 | ) | (6,107 | ) | 204,063 | 307,652 | (76,458 | ) | (17,147 | ) | — | 214,047 | |||||||||||||||||||||||||||||||||
| Income (loss) from operations | (42,493 | ) | 54,941 | 4,491 | 16,830 | 33,769 | (76,003 | ) | 76,690 | 17,147 | — | 17,834 | ||||||||||||||||||||||||||||||||||||
| Interest and other expense, net | 1,290 | — | — | — | 1,290 | 4,029 | — | — | — | 4,029 | ||||||||||||||||||||||||||||||||||||||
| Income (loss) before income taxes | (43,783 | ) | 54,941 | 4,491 | 16,830 | 32,479 | (80,032 | ) | 76,690 | 17,147 | — | 13,805 | ||||||||||||||||||||||||||||||||||||
| Provision (benefit) for income taxes (a) | 665 | (1,452 | ) | (67 | ) | — | (854 | ) | (20,563 | ) | 22,474 | 3,108 | — | 5,019 | ||||||||||||||||||||||||||||||||||
| Net income (loss) | (44,448 | ) | 56,393 | 4,558 | 16,830 | 33,333 | (59,469 | ) | 54,216 | 14,039 | — | 8,786 | ||||||||||||||||||||||||||||||||||||
| Less: net loss attributable to noncontrolling interests | (799 | ) | — | — | — | (799 | ) | (343 | ) | — | — | — | (343 | ) | ||||||||||||||||||||||||||||||||||
| Net income (loss) attributable to 3D Systems Corporation | $ | (43,649 | ) | $ | 56,393 | $ | 4,558 | $ | 16,830 | $ | 34,132 | $ | (59,126 | ) | $ | 54,216 | $ | 14,039 | $ | — | $ | 9,129 | ||||||||||||||||||||||||||
| Net income (loss) per share available to 3D Systems Corporation common stockholders — basic and diluted | $ | (0.39 | ) | $ | 0.31 | $ | (0.53 | ) | $ | 0.08 | ||||||||||||||||||||||||||||||||||||||
