Presentation of Information in This Press Release
To facilitate a better understanding of the impact that strategic acquisitions, non-recurring charges and certain non-cash expenses had on its financial results, the company reported non-GAAP measures excluding the impact of amortization of intangibles, non-cash interest expense, acquisition and severance expenses, stock-based compensation expense, litigation settlements and charges related to strategic decisions and portfolio realignment. A reconciliation of GAAP to non-GAAP results is provided in the accompanying schedule.
About 3D Systems
3D Systems provides comprehensive 3D products and services, including 3D printers, print materials, on-demand manufacturing services and digital design tools. Its ecosystem supports advanced applications from the product design shop to the factory floor to the operating room. 3D Systems' precision healthcare capabilities include simulation, Virtual Surgical Planning, and printing of medical and dental devices as well as patient-specific surgical instruments. As the originator of 3D printing and a shaper of future 3D solutions, 3D Systems has spent its 30 year history enabling professionals and companies to optimize their designs, transform their workflows, bring innovative products to market and drive new business models.
More information on the company is available at www.3dsystems.com.
Tables Follow
|
3D Systems Corporation | |||||||||||
|
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||
|
Quarter and Six Months Ended June 30, 2017 and 2016 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended June 30, |
|
Six Months Ended June 30, | ||||||||
|
(in thousands, except per share amounts) |
2017 |
|
2016 |
|
2017 |
|
2016 | ||||
|
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
Products |
$ |
94,421 |
|
$ |
94,899 |
|
$ |
189,151 |
|
$ |
185,863 |
|
Services |
|
65,046 |
|
|
63,212 |
|
|
126,747 |
|
|
124,803 |
|
Total revenue |
|
159,467 |
|
|
158,111 |
|
|
315,898 |
|
|
310,666 |
|
Cost of sales: |
|
|
|
|
|
|
|
|
|
|
|
|
Products |
|
46,554 |
|
|
46,200 |
|
|
91,302 |
|
|
90,361 |
|
Services |
|
32,240 |
|
|
31,500 |
|
|
63,737 |
|
|
62,381 |
|
Total cost of sales |
|
78,794 |
|
|
77,700 |
|
|
155,039 |
|
|
152,742 |
|
Gross profit |
|
80,673 |
|
|
80,411 |
|
|
160,859 |
|
|
157,924 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative |
|
63,088 |
|
|
63,228 |
|
|
129,493 |
|
|
137,195 |
|
Research and development |
|
24,449 |
|
|
20,900 |
|
|
47,301 |
|
|
41,205 |
|
Total operating expenses |
|
87,537 |
|
|
84,128 |
|
|
176,794 |
|
|
178,400 |
|
Loss from operations |
|
(6,864) |
|
|
(3,717) |
|
|
(15,935) |
|
|
(20,476) |
|
Interest and other income, net |
|
933 |
|
|
208 |
|
|
1,134 |
|
|
334 |
|
Loss before income taxes |
|
(5,931) |
|
|
(3,509) |
|
|
(14,801) |
|
|
(20,142) |
|
Provision for income taxes |
|
2,067 |
|
|
1,700 |
|
|
3,108 |
|
|
2,879 |
|
Net loss |
|
(7,998) |
|
|
(5,209) |
|
|
(17,909) |
|
|
(23,021) |
|
Less: net income (loss) attributable to noncontrolling interests |
|
418 |
|
|
(561) |
|
|
478 |
|
|
(585) |
|
Net loss attributable to 3D Systems Corporation |
$ |
(8,416) |
|
$ |
(4,648) |
|
$ |
(18,387) |
|
$ |
(22,436) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share available to 3D Systems Corporation common stockholders — basic and diluted |
$ |
(0.08) |
|
$ |
(0.04) |
|
$ |
(0.17) |
|
$ |
(0.20) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
Pension adjustments, net of taxes |
$ |
(101) |
|
$ |
67 |
|
$ |
(81) |
|
$ |
36 |
|
Foreign currency translation gain (loss) |
|
12,489 |
|
|
(6,654) |
|
|
20,881 |
|
|
1,285 |
|
Total other comprehensive income (loss) |
|
12,388 |
|
|
(6,587) |
|
|
20,800 |
|
|
1,321 |
|
Less foreign currency translation gain attributable to noncontrolling interests |
|
74 |
|
|
(43) |
|
|
135 |
|
|
46 |
|
Other comprehensive income attributable to 3D Systems Corporation |
|
12,314 |
|
|
(6,544) |
|
|
20,665 |
|
|
1,275 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) |
|
4,390 |
|
|
(11,796) |
|
|
2,891 |
|
|
(21,700) |
|
Less comprehensive income (loss) attributable to noncontrolling interests |
|
492 |
|
|
(604) |
|
|
613 |
|
|
(539) |
|
Comprehensive income (loss) attributable to 3D Systems Corporation |
$ |
3,898 |
|
$ |
(11,192) |
|
$ |
2,278 |
|
$ |
(21,161) |
|
|
|
|
|
|
|
|
|
|
|
|
|
