3D Systems Q1 Results: Record Revenue and Printer Units, M&A Activity [Earnings]
“We are pleased to report another quarter of record revenue and printer units,” said Abe Reichental, 3D Systems’ President and Chief Executive Officer. “Record print materials revenue and continued margin expansion drove our consolidated gross profit margin upward validating the earnings power of our business model.”
3D Systems (NYSE:DDD) is a leading provider of 3D content-to-print solutions including 3D printers, print materials and on-demand custom parts services for professionals and consumers alike.
Revenue increased 63% to $77.9 million over the first quarter of 2011. Printer units grew 153% for the quarter compared to 2011. Gross profit grew 67% for the first quarter on higher revenue and gross profit margin expanded 143 basis points over the 2011 period to 50%.
The company generated $15.8 million of cash from operations in the first quarter 2012, after incurring a $13.1 million increase in its operating expenses from expected acquisition and higher sales and marketing costs. The increase also included $2.1 million of higher R&D expenditures in support of its Cubify.com consumer initiative and expanded R&D programs in support of the businesses it acquired during the first quarter of 2012, including My Robot Nation.
The company ended the first quarter of 2012 with $60.0 million of available cash, including $15.8 million of cash from operations.
The company affirmed its annual guidance for the full year 2012 and expects its revenue to be in the range of $330 million to $360 million and its non-GAAP adjusted earnings per share to be in the range of $1.00 to $1.25.
To experience 3D Systems’ entire range of 3D content-to-print products and services please visit www.printin3D.com , www.production3dprinters.com , www.zcorp.com , www.toptobottomdental.com , www.3Dproparts.com , www.quickparts.com , www.paramountind.com , www.zcorp.com , www.alibre.com , www.bitsfrombytes.com , www.cubify.com , www.myrobotnation.com , www.The3dStudio.com , www.freedomofcreation.com , www.sycode.com , www.botmill.com , blog.3dsystems.com, or via email at moreinfo@3Dsystems.com.