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3D Systems income up 2.8% in 4Q

Staff Report
Published March 4, 2014

Rock Hill-based 3D Systems Inc. reported net income for fourth quarter hit $11.2 million, a 2.8% increase compared with results reported for the last quarter of 2012.

Meanwhile, net income for all of 2013 grew to $44.1 million, a 13.4% increase over $38.9 million recorded for 2012.

The company added that fourth-quarter revenues totaled $154.8 million, a 52.4% increase when compared with $101.6 million for the last quarter of 2012. For the year, revenues totaled $513.4 million, up about 45.2% over 2012’s total sales of $353.6 million.

"We are pleased to report another record revenue quarter on robust professional and advanced manufacturing printers' demand, increased materials' growth rate and total unit sales that more than tripled last year's units," said Avi Reichental, president and CEO of 3D Systems.

The company said fourth-quarter sales of 3-D printers and other products revenue increased 76% to $73.9 million, print materials grew 39% to $37.2 million, services rose 33% to $43.7 million, health care revenue increased 67% to $21.8 million and consumer solutions climbed 162% to $8.9 million.

For the year, sales of 3-D printers and other products increased 80% to $227.6 million, print materials rose 24% to $128.4 million, services climbed 27% to $157.4 million, health care increased 45% to $71.7 million and consumer solutions expanded 206% to $34.8 million.

"Compared to our late quarter expectations, we are disappointed that our stronger order book didn't convert to higher revenue, but instead, resulted in a near doubling of last quarter's backlog,” Reichental said. “Despite our higher growth, certain revenue categories fell short of our expectations and the concentration of new product announcements deferred sales and suppressed expected gross profit margin for the quarter."

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