3D Systems Reports 2012 Results

This week, 3D Systems (NYSE: DDD) released its 2012 Q4 results which highlighted non-GAAP earnings of 39 cents per share for the fourth quarter of 2012 and GAAP earnings of 19 cents per share resulting in full year 2012 non-GAAP earnings of $1.25 and GAAP earnings of $0.71.The company also reported that its fourth quarter revenue grew 45.4% from the prior year to $101.6 million on a 93% surge in printers’ and other products revenue and 18.8% organic growth.

3D System chart

From the press release:

‘Stronger printer demand bolstered quarter-end backlog to $11.4 million at year-end, a 23% sequential increase, which included $3.2 million related to current printers’ sales. Gross profit increased 60% and gross profit margin expanded 460 basis points to 51.7% contributing to non-GAAP net income improvement of 64% over the 2011 quarter. For the full year 2012, revenue grew 53.5% to $353.6 million, on 90% printers’ and other products revenue increase and 22.4% organic growth. Gross profit increased 66.2% and gross profit margin expanded 390 basis points to 51.2%.  
The company generated $53.0 million of cash from operations in 2012, and ended the year with $155.9 million of available cash, after incurring a $46.5 million increase in its annual operating expenses primarily from increased sales, marketing and acquisitions costs. The increase included $8.9 million of higher R&D expenditures in support of its expanded portfolio.’

So, it is appropriate I think to report this information on a 3D printing news site, however, I am not even going to pretend I can analyse these figures in any sort of meaningful way. My personal opinion is that, much like politics, these sorts of figures can be spun to tell any story — either by the company or veteran analysts that have various motives. Make of it what you will.

Image Credit: Nasdaq


More on this topicA Light with Model Solutions