ROCK HILL, S.C., Oct. 28, 2010 (GLOBE NEWSWIRE) -- 3D Systems Corporation (Nasdaq:TDSC) announced today that it earned 23 cents per share during the third quarter on a 50% revenue increase and a 90 basis point gross profit margin expansion compared to the third quarter of 2009.
The company generated $18.5 million of cash from operations during the first nine months of 2010. After using $10.3 million to fund strategic investing activities, the company ended with $33.8 million of available cash compared to $24.9 million at December 31, 2009.
"Our improved performance and record third quarter results are closing in on our long term operating model," said Abe Reichental, 3D Systems' President and Chief Executive Officer.
The table below summarizes the company's key financial results.
Systems revenue increased by $7.7 million compared to the 2009 quarter and by $16.4 million for the first nine months of 2010 driven by strong demand for the company's production systems. 3D Printers quarterly revenue grew by 74% over the 2009 quarter and 23% sequentially. Materials sales increased $1.1 million and $6.4 million over the third quarter and first nine months of 2009. Healthcare solutions third quarter revenue increased 33% sequentially and sales from service activities including 3Dproparts grew to $12.8 million for the quarter.
"We are very pleased with our results and believe that our focus on delivering value through 3D parts, printers and production systems is providing significant value to our customers and stockholders," concluded Reichental.
Conference Call and Audio Webcast Details
3D Systems will hold a conference call and audio webcast to discuss its operating results for the third quarter of 2010 on Thursday, October 28, 2010 at 11:30 a.m., Eastern Time.
- To access this Conference Call, dial 1-(888) 626-7452 from in the U.S. or (201) 604-5102 from outside the U.S.
- To access the audio webcast, log onto 3D Systems' Web site at . To ensure timely participation and technical capability, we recommend logging on a few minutes prior to the conference call to activate your participation. The webcast will be available for replay beginning approximately three hours after completion of the call at: .
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as "believes," "belief," "expects," "estimates," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Forward-looking statements may include comments as to the company's beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings "Forward-Looking Statements," "Cautionary Statements and Risk Factors," and "Risk Factors" in the company's periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements.
About 3D Systems Corporation
3D Systems is a leading provider of 3-D Printing, Rapid Prototyping and Manufacturing systems and parts solutions. Its expertly integrated solutions reduce the time and cost of designing products and facilitate direct and indirect manufacturing by creating actual parts directly from digital input. These solutions are used for design communication and prototyping as well as for production of functional end-use parts: our customers Create With Confidence.
The 3D Systems Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4537
CONTACT: 3D Systems Corporation Investor Contact: Stacey Witten 803-326-4010 WittenS@3dsystems.com Media Contact: Katharina Hayes 803-326-3941 HayesK@3dsystems.com