| 3D Systems Corporation | ||||||||||||||||
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Unaudited Condensed Consolidated Statements of Operations
and Comprehensive Income (Loss) | ||||||||||||||||
| Quarter and Full Year Ended December 31, 2017 and 2016 | ||||||||||||||||
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Quarter Ended
December 31, |
Full Year Ended
December 31, | |||||||||||||||
| (in thousands, except per share amounts) | 2017 | 2016 | 2017 | 2016 | ||||||||||||
| Revenue: | ||||||||||||||||
| Products | $ | 102,349 | $ | 99,977 | $ | 379,126 | $ | 380,383 | ||||||||
| Services | 74,915 | 65,960 | 266,943 | 252,582 | ||||||||||||
| Total revenue | 177,264 | 165,937 | 646,069 | 632,965 | ||||||||||||
| Cost of sales: | ||||||||||||||||
| Products | 52,758 | 48,746 | 203,527 | 195,428 | ||||||||||||
| Services | 39,048 | 34,301 | 137,703 | 127,786 | ||||||||||||
| Total cost of sales | 91,806 | 83,047 | 341,230 | 323,214 | ||||||||||||
| Gross profit | 85,458 | 82,890 | 304,839 | 309,751 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Selling, general and administrative | 68,195 | 57,767 | 264,185 | 259,776 | ||||||||||||
| Research and development | 22,966 | 21,050 | 94,627 | 88,395 | ||||||||||||
| Total operating expenses | 91,161 | 78,817 | 358,812 | 348,171 | ||||||||||||
| Income (loss) from operations | (5,703 | ) | 4,073 | (53,973 | ) | (38,420 | ) | |||||||||
| Interest and other expense, net | (3,425 | ) | (102 | ) | (3,548 | ) | (1,392 | ) | ||||||||
| Income (loss) before income taxes | (9,128 | ) | 3,971 | (57,521 | ) | (39,812 | ) | |||||||||
| Provision (benefit) for income taxes | 971 | (1,212 | ) | 7,802 | (547 | ) | ||||||||||
| Net income (loss) | (10,099 | ) | 5,183 | (65,323 | ) | (39,265 | ) | |||||||||
| Less: net income (loss) attributable to noncontrolling interests | 35 | (47 | ) | 868 | (846 | ) | ||||||||||
| Net income (loss) attributable to 3D Systems Corporation | $ | (10,134 | ) | $ | 5,230 | $ | (66,191 | ) | $ | (38,419 | ) | |||||
| Net income (loss) per share available to 3D Systems Corporation
common stockholders — basic and diluted | $ | (0.08 | ) | $ | 0.05 | $ | (0.59 | ) | $ | (0.35 | ) | |||||
| Other comprehensive income (loss): | ||||||||||||||||
| Pension adjustments, net of taxes | $ | 325 | $ | (956 | ) | $ | 220 | $ | (902 | ) | ||||||
| Gain on liquidation of non-US entity | — | 288 | — | 288 | ||||||||||||
| Foreign currency translation gain (loss) | 5,943 | (18,525 | ) | 31,728 | (12,958 | ) | ||||||||||
| Total other comprehensive income (loss) | 6,268 | (19,193 | ) | 31,948 | (13,572 | ) | ||||||||||
| Less foreign currency translation gain attributable
to noncontrolling interests | 98 | 37 | 259 | 105 | ||||||||||||
| Other comprehensive income (loss) attributable to
3D Systems Corporation | 6,170 | (19,230 | ) | 31,689 | (13,677 | ) | ||||||||||
| Comprehensive loss | (3,831 | ) | (14,010 | ) | (33,375 | ) | (52,837 | ) | ||||||||
| Less comprehensive income (loss) attributable to
noncontrolling interests | 133 | (10 | ) | 1,127 | (741 | ) | ||||||||||
| Comprehensive loss attributable to 3D Systems Corporation | $ | (3,964 | ) | $ | (14,000 | ) | $ | (34,502 | ) | $ | (52,096 | ) | ||||
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3D Systems Reports Fourth Quarter and Full Year 2017 Financial Results
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