Schnitger Corporation

Earnings update, 3D printer edition — looks good!

This earnings season has been incredibly busy and I have fallen far, far behind in summarizing the highlights. To try to catch up a bit, I’ll be grouping these companies by general product category for you, since that’s so much more useful than chronologically by reporting date.

Look for reports on the AEC-specific companies (Hexagon, Nemetschek and Trimble) to come sometime soon

ExOne disappoints investors, reports loss as revenue grows

3D printer company ExOne reported that higher operating expenses led to a first quarter loss of $1.9 million, even as revenue jumped to $7.9 million (from $2.7 milllion a year ago and WHAT last quarter), fueled by the sale of four 3D printing machines during the quarter. Even so, the company continuous its expansion plans,

CEO Kent Rockwell sees this as a bump in the road: “We continue to be very encouraged with the opportunities that present themselves for our 3D printing capability… [W]eakness in Europe slowed the purchase decisions of our customers in that region, while customer demand in Japan is clearly strengthening with the economy. And in North America, we also received our first order for an M-Flex machine in the quarter.”  The company now ExOne said it expects full-year revenue of $48 million to $52 million, with two-thirds of that coming in the second half.

3D Systems buoyed by acquisitions, printer sales

3D Systems is a much more complex company, since it sells 3D printer, printer supplies and, increasingly, software. 3D Systems reported first quarter results on April 30, with revenue grew 31% year/year to $102 million as printer and other product revenue grew 61% and unit sales were up 81%. Within that product total, printer revenue was up 43% to $32 million. Software products contributed $4.2 million in the quarter (and Geomagic only for 1 month).

CEO Abe Reichental told investors that the company saw 38% renveue growth in Europe and 45% in Asia, “some of it obviously is aided by the recent software acquisitions, but what we’re seeing generally is that even in some of these more uncertain economies, the demand for our products and services remains very high. It’s primarily related to very robust R&D spending by the companies that within our universe and a greater demand for our systems and services for outright advanced manufacturing applications.”

Since the earnings report, 3D Systems has been incredibly busy. They’ve rebranded a number of products to carry the Geomagic label and announced that the company and some employee shareholders plan to sell $250 million in shares. The proceeds will be used for yet more acquisitions and to fund normal operations.

Stratasys/Objet merger ahead of plan

Fresh off its acquisition of Objet, Stratasys reported that non-GAAP revenue was $98 million, up 18% over the revenue of the combined companies a year ago. [This is confusing to many since most companies report acquired revenue as if it were new. Stratasys has opted for a much useful approach, adding together Stratasys and Objet for the last year. –Ed.] Unit sales were up 5%, even as hardware revenue went up 15%, indicating that customers are buying higher ASP products.

Mr. Reis said that he was “pleased with our record first quarter results. We generated strong revenue growth while continuing to focus on the major task of merger integration. We continue to integrate our sales and marketing organization and we are ahead of schedule and cross-training our combined reseller channel and dealer network.”

Stratasys guided to revenue of $430 million to $445 million for the year, also backweighted – but, for once, not because of the economy. According to David Reis, CEO, “revenue growth is expected to be stronger toward the end of the year as Stratasys progresses with its integration plan and realizes revenue synergies from selling the combined product portfolio.”

OK. That’s it for now. I’m off to the SIMULIA Community Conference in Vienna and am looking forward to keynotes from the company, BMW and Ethicon; as well as dozens of other presentations. I believe the Twitter hashtag for the event is #SIMULIA13 but I’ll update once I know for sure.

Image courtesy of Cubify, in honor of the latest, (terrific) Start Trek.

Exit mobile version