3D Systems Corporation — one of the two 3D printing monoliths that currently dominate the 3D printing sector — has announced that its third quarter revenue grew a phenomenal 50% from the previous year, to USD$135.7 million. Net income attributable to the company rose to $17.7 million (17% per share) in the three months to September 30th from $13.5 million (16% per share) a year earlier.
For the first three quarters of 2013 revenue grew 42% to $358.6 million through an 81% increase in printers / other revenue and 27% organic growth. This resulted in GAAP earnings of $0.34 per share and non-GAAP earnings of $0.66 per share. Gross profit increased 46% and gross profit margin expanded 120 basis points to 52.3%.
Compared with 2012 quarter:
- 3D printers and other products revenue increased 76% to $59.8 million.
- Healthcare revenue grew 39% to $16.9 million.
- Services revenue rose 38% to $42.7 million.
- Print materials revenue grew 30% to $33.2 million.
The company has decided to further increase its spending in R&D, expand spending in marketing and retail field operations with specific new product introductions and retail channel expansion. Market interest in 3D Systems’ recent acquisition of Phenix direct metal 3D printers accelerated new product development and capacity investments. As a result, the company updated its annual guidance for the full year 2013, increasing its revenue guidance to be $500 – $530 million and reducing its non-GAAP earnings per share guidance to $0.93 – $1.03. 3D Systems also announced it is investing $10 million to expand its Rock Hill, SC, manufacturing operations generating 145 new jobs.