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3D Systems Reports Second Quarter and Six Months 2016 Financial Results

  • Revenue of $158.1 million and gross profit margin of 50.9%
  • Continued strong demand and growth for healthcare solutions, software and materials
  • Generated $12.9 million of cash from operations

ROCK HILL, S.C., Aug. 03, 2016 (GLOBE NEWSWIRE) -- 3D Systems Corporation (DDD) announced today its financial results for the second quarter and six months ended June 30, 2016.

For the second quarter of 2016, the company reported revenue of $158.1 million and a GAAP loss of $0.04 per share and non-GAAP earnings of $0.12 per share.

Quarterly revenue benefited from continued strong demand for the company’s healthcare solutions and software as well as higher materials orders from healthcare and industrial customers. However, these gains were not enough to offset the lower demand for 3D printers and on demand manufacturing in the quarter, resulting in a 7% decrease in revenue compared to the second quarter of 2015.

Gross profit margin for the second quarter of 2016 increased to 50.9% benefiting from the company’s shift away from consumer products and increased sales of higher margin materials, software and healthcare solutions. The comparable period of 2015 included charges in connection with the consolidation of production facilities that contributed to 47.9% gross profit margin.

For the second quarter of 2016, operating expenses were $84.1 million, including SG&A expenses of $63.2 million and R&D expenses of $20.9 million. Compared to the second quarter of 2015, SG&A expense decreased 21% on lower amortization and stock based compensation expenses and R&D expense decreased 19% due to timing of product development.

The company generated $12.9...