Tag Archives: earnings
“We are pleased with the progress we are making as we move forward with the combination of our two companies, creating a leader within the high-growth 3D printing and direct digital manufacturing industry,” said Scott Crump, chief executive officer and chairman of Stratasys. “We are confident that this transaction will build significant long-term value for all stakeholders of both companies, including stockholders, channel partners, customers, and employees.”
The proxy statement provides certain pro forma financial results that outline the combined performance for Stratasys and Objet during prior periods. Included in this press release are certain financial tables that outline the pro forma results on a GAAP and non-GAAP basis for the 3-month period ended March 31, 2012, and the 12-month period ended December 31, 2011. Stratasys standalone results for the same periods, which were previously released, are also provided in the financial tables of this press release for comparative purposes.
The Stratasys and Objet combined pro forma revenue and earnings per share for the 3-month period ended March 31, 2012 on a non-GAAP basis are $83.0 million and $0.32 per share, respectively, compared to Stratasys standalone reported non-GAAP revenue and earnings of $45.0 million and $0.28 per share.
The combined pro forma revenue and earnings per share for the 12-month period ended December 31, 2011 on a non-GAAP basis are $277.0 million and $0.94 per share, respectively, compared to Stratasys standalone reported non-GAAP revenue and earnings of $155.9 million and $1.04 per share.
The non-GAAP financial measures, which exclude certain charges, expenses and income, are outlined in more detail in the tables provided at the end of this press release.
“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.