3D Systems Reports Q1 Revenue


"And we are continuing our new product introductions," continued Reichental. "Since the beginning of 2006, we have introduced five new products, including:

-- A faster model of the InVision(TM) LD 3-D Printer that is able to produce parts 30% faster, and we subsequently reduced the InVision(TM) LD printer's price to $14,900, making it accessible to a broader audience of engineers, marketers and students;

-- A new dental system, InVision(TM) DP (Dental Professional) that helps dental labs transition into the digital age;

-- A new suite of software, 3DView(TM), 3DManage(TM) and 3DPrint(TM) that provides numerous productivity and cost-saving benefits for our three technology platforms;

-- Accura(R) 60 Plastic, a new stereolithography material that simulates the look and feel of molded polycarbonate; and

-- New VisiJet(R) LD100 materials in two new colors -- red and blue.

"Finally, during the first quarter, as we previously announced, we signed a 15-year lease and broke ground to bring our new state-of-the-art Rapid Manufacturing facility and global headquarters to Rock Hill, South Carolina, and we opened a 12,000 square foot interim facility there to facilitate our transition to Rock Hill," concluded Reichental.

Conference Call and Audio Webcast Details

3D Systems will hold a conference call and audio Webcast to discuss its first-quarter 2006 financial results today at 11:00 am Eastern Time (8:00 am Pacific Time).

-- To access the Conference Call, dial 1-800-811-9406 (or 706-634-0653 from outside the United States). A recording will be available two hours after completion of the call for seven days. To access the recording, dial 1-800-642-1687 (or 706-645-9291 from outside the United States) and enter 8182929, the conference call ID number.

-- To access the audio Webcast, log onto 3D Systems' website at www.3dsystems.com. The link to the Webcast is provided on the homepage of the website. 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 at: www.3dsystems.com under the Investor Relations' section.

Forward-Looking Statements

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," "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 expectations and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors stated under the heading "Forward-Looking Statements" and "Cautionary Statements and Risk Factors" in management's discussion and analysis of financial condition and results of operations, which appear 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 rapid 3-D printing, prototyping and manufacturing solutions. Its systems and materials 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: Transform your products.

More information on the company is available at www.3dsystems.com, or via email at moreinfo@3dsystems.com.
                        3D SYSTEMS CORPORATION
           Condensed Consolidated Statements of Operations
         Three Months Ended March 31, 2006 and March 31, 2005
               (in thousands, except per share amounts)

                                             Three Months Ended
                                      --------------------------------
                                       March 31, 2006  March 31, 2005
                                      ---------------- ---------------
                                                 (Unaudited)

Revenue:
   Products                           $        24,216  $       20,246
   Services                                     9,311          10,186
                                       ---------------  --------------
    Total revenue                              33,527          30,432

Cost of sales:
   Products                                    12,526          10,298
   Services                                     6,986           7,129
                                       ---------------  --------------
    Total cost of sales                           19,512                    17,427
                                                                            ----------------  ---------------

Gross  profit                                                                      14,015                    13,005
                                                                            ----------------  ---------------

Operating  expenses:
      Selling,  general  and
        administrative                                                            9,763                      8,696
      Research  and  development                                          3,257                      2,675
      Severance  and  Restructuring                                    1,638
                                                                              ---------------  ---------------
        Total  operating  expenses                                      14,658                    11,371
                                                                            ----------------  ---------------

Income  (loss)  from  operations                                        (643)                    1,634

Interest  and  other  expense,  net                                      114                          345
                                                                              ---------------    --------------

Income  (loss)  before  provision  for
  income  taxes                                                                        (757)                    1,289
Provision  for  income  taxes                                                  76                            94
                                                                            ----------------  ---------------
Net  income  (loss)                                                                (833)                    1,195

Preferred  stock  dividends                                                  411                          412
                                                                            ----------------  ---------------
Net  income  (loss)  available  to  common
  stockholders                                                  $                (1,244)  $                    783
                                                                            ================  ===============

Shares  used  to  calculate  basic  net
  income  (loss)  available  to  common
  stockholders  per  share(1)                                          15,303                    14,575
                                                                            ================  ===============

Basic  net  income  (loss)  available  to
  common  stockholders  per  share(1)          $                  (0.08)  $                  0.05
                                                                            ================  ===============

Shares  used  to  calculate  fully
  diluted  net  income  (loss)
  available  to  common  stockholders
  per  share(1)                                                                    15,303                    15,813
                                                                            ================  ===============

Diluted  net  income  (loss)  available
  to  common  stockholders  per  share(1)    $                  (0.08)  $                  0.05
                                                                            ================  ===============

(1)  See  Schedule  1  for  the  calculation  of  basic  and  diluted  net  income
        (loss)  available  to  common  stockholders  per  share.


                                                3D  SYSTEMS  CORPORATION
                                Condensed  Consolidated  Balance  Sheets
                                  March  31,  2006  and  December  31,  2005
                                                        (in  thousands)

                              ASSETS                                        March  31,            December  31,
                                                                                        2006                      2005(2)
                                                                                (Unaudited)
                                                                            ---------------  --------------

Current  assets:
  Cash  and  cash  equivalents                        $                26,398    $              24,112
  Accounts  receivable,  net                                            29,735                    33,172
  Inventories,  net                                                            16,410                    13,960
  Deferred  tax  assets                                                        2,500                      2,500
  Prepaid  expenses  and  other  current
    assets                                                                                9,910                      9,523
                                                                              ---------------    --------------
    Total  current  assets                                                  84,953                    83,267

Property  and  equipment,  net                                        13,605                    12,166
Goodwill                                                                              44,843                    44,747
Intangible  assets,  net                                                    7,949                      7,990
Restricted  cash                                                                  1,200                      1,200
Other  assets,  net                                                                  837                      1,572
                                                                                ---------------  --------------
                                                                            $              153,387    $            150,942
                                                                              ===============    ==============


LIABILITIES  AND  STOCKHOLDERS'  EQUITY

Current  liabilities:
      Current  portion  of  long-term  debt    $                      210    $                    200
      Accounts  payable                                                        12,525                    10,949
      Accrued  liabilities                                                  12,143                    12,174
      Customer  deposits                                                        1,353                      1,945
      Deferred  revenue                                                        14,198                    13,768
                                                                                ---------------  --------------
        Total  current  liabilities                                    40,429                    39,036

Long-term  debt,  less  current  portion                        3,435                      3,545
Convertible  subordinated  debentures                        22,604                    22,604
Other  liabilities                                                              1,060                      1,039
                                                                                ---------------  --------------
        Total  liabilities                                                    67,528                    66,224

Series  B  convertible  redeemable
  preferred  stock                                                              15,257                    15,242

Stockholders'  equity:
      Common  stock,  authorized  25,000
        shares,  issued  and  outstanding
        14,656  (2005)  and  14,490  (2004)                                16                            15
      Additional  paid-in  capital                                  111,344                  106,883
      Deferred  compensation                                              (4,127)                  (1,461)
      Treasury  stock,    at  cost                                            (213)                      (154)
      Accumulated  deficit  in  earnings                        (35,631)                (34,798)
      Accumulated  other  comprehensive
        income  (loss)                                                                (787)                  (1,009)
                                                                                ---------------  --------------
        Total  stockholders'  equity                                  70,602                    69,476
                                                                              ---------------    --------------
                                                                            $              153,387    $            150,942
                                                                              ===============    ==============

(2)  The  balance  sheet  at  December  31,  2005  has  been  derived  from  the
        audited  financial  statements  at  that  date  but  omits  certain  of  the
        information  required  by  generally  accepted  accounting  principles
        for  complete  financial  statements.


                                                3D  SYSTEMS  CORPORATION
                        Condensed  Consolidated  Statement  of  Cash  Flows
                  Three  Months  Ended  March  31,  2006  and  March  31,  2005
                                                        (in  thousands)

                                                                                        Three  Months  Ended
                                                                            -------------------------------
                                                                              March  31,  2006    March  31,  2005
                                                                            ----------------  ---------------
                                                                                (Unaudited)

Cash  flows  from  operating  activities:
Net  income  (loss)                                          $                    (833)  $                1,195
  Adjustments  to  reconcile  net  income
    (loss)  to  net  cash  used  in
    operating  activities:
  Depreciation  and  amortization                                    1,514                      1,549
  Bad  debt  provision  (benefit)                                            60                          (39)
  Stock-based  compensation  expense                                  452                            75
  Loss  on  disposition  of  property  and
    equipment                                                                                  2                              1
  Changes  in  operating  accounts:
    Accounts  receivable                                                      3,639                      1,754
    Inventories,  net                                                          (2,352)                        556
    Prepaid  expenses  and  other  current
      assets                                                                                (395)                  (2,193)
    Other  assets                                                                          93                        (105)
    Accounts  payable                                                            1,550                          (40)
    Accrued  liabilities                                                        (495)                  (2,818)
    Customer  deposits                                                            (594)                        (26)
    Deferred  revenue                                                                353                          494
    Other  liabilities                                                                (2)                        (91)
                                                                                ---------------  --------------
    Net  cash  provided  by  (used  in)
      operating  activities                                                  2,992                          312
                                                                              ---------------    --------------

Cash  flows  from  investing  activities:
  Purchase  of  property  and  equipment                        (2,184)                      (764)
  Additions  to  licenses  and  patents                              (159)                      (132)
  Proceeds  from  the  sale  of  property
    and  equipment                                                                      150                              -
  Software  development  costs                                              (40)                      (222)
                                                                                ---------------  --------------
    Net  cash  used  in  investing
      activities                                                                    (2,233)                  (1,118)
                                                                              ---------------    --------------

Cash  flows  from  financing  activities:
  Stock  option,  stock  purchase  plan
    and  restricted  stock  proceeds                                  1,687                      1,115
  Repayment  of  long-term  debt                                          (100)                        (90)
  Payments  under  obligation  to  former
    3D  Systems  SA  stockholders                                                -                        (219)
  Payment  of  accrued  liquidated
    damages                                                                                      -                          (36)
                                                                                ---------------  --------------
    Net  cash  provided  by  financing
      activities                                                                      1,587                          770
Effect  of  exchange  rate  changes  on
  cash                                                                                          (60)                        267
                                                                                ---------------  --------------
Net  increase  (decrease)  in  cash  and
  cash  equivalents                                                              2,286                          231

Cash  and  cash  equivalents  at  the
  beginning  of  the  period                                              24,112                    26,276
                                                                                ---------------  --------------
Cash  and  cash  equivalents  at  the  end
  of  the  period                                                $                26,398    $              26,507
                                                                                ===============  ==============

Selected  Supplemental  Cash  Flow
  Information:
Interest  payments                                          $                        30    $                      61
Income  tax  payments                                                              312                          602
Non-cash  items:
  Conversion  of  6%  convertible
    subordinated  debentures                          $                          -    $                    100
  Conversion  of  preferred  stock                                            -                            26
  Accrued  dividends  on  preferred  stock                          387                          387
  Transfer  of  equipment  from  inventory
    to  property  and  equipment,  net                                    328                          545
  Transfer  of  equipment  to  inventory
    from  property  and  equipment,  net                                  15                          307


                                                            Schedule  1

The  following  is  a  reconciliation  of  the  numerator  and  denominator  of
the  basic  and  diluted  net  income  (loss)  available  to  common
stockholders  per  share  computations:

                                                                                          Three  Months  Ended
                                                                            --------------------------------
                                                                              March  31,  2006    March  31,  2005
                                                                            ----------------  ---------------
                                                                                (Unaudited)

Basic  net  income  (loss)  available  to
  common  stockholders  per  share:
Numerator:
Net  income  (loss)  available  to  common
  stockholders                                                  $                (1,244)  $                    783
                                                                              ===============    ==============
Denominator:
Weighted  average  common  shares
  outstanding                                                                      15,303                    14,575
                                                                              ===============    ==============

Basic  net  income  (loss)  available  to
  common  stockholders,  per  share              $                  (0.08)  $                  0.05
                                                                              ===============    ==============

Diluted  net  income  (loss)  available
  to  common  stockholders  per  share:
Numerator:
Net  income  (loss)  available  to  common
  stockholders                                                  $                (1,244)  $                    783
Add:  Preferred  stock  dividend                                              -                              -
Add:  Interest  on  6%  convertible
  subordinated  debentures                                                        -                              -
                                                                              ----------------  --------------
Diluted  net  income  (loss)  available
  to  common  stockholders,  per  share        $                (1,244)  $                    783
                                                                              ===============    ==============

Denominator:
Weighted  average  common  shares
  outstanding                                                                      15,303                    14,575
Add:  Effect  of  assumed  exercise  of
  options                                                                                        -                      1,238
Add:  Effect  of  assumed  conversion  of
  6%  subordinated  convertible
  debentures                                                                                  -                              -
Add:  Effect  of  assumed  conversion  of
  preferred  stock                                                                        -                              -
                                                                              ----------------  --------------
Diluted  weighted  average  common
  shares  outstanding                                                        15,303                    15,813
                                                                              ===============    ==============

Diluted  net  income  (loss)  per  common
  share                                                                $                  (0.08)  $                  0.05
                                                                              ===============    ==============

For  the  three  months  ended  March  31,  2006,  shares  of  common  stock
issuable  upon  the  conversion  of  convertible  preferred  stock,
convertible  debt  and  the  exercise  of  stock  options  were  excluded  from
the  calculation  of  diluted  net  loss  per  share  because  their  effects
would  have  been  anti-dilutive;  that  is,  they  would  have  reduced  net
loss  per  share.  At  March  31,  2006,  there  were  5,672  potentially
dilutive  securities  that  were  not  included  in  the  diluted  calculation
comprised  of  835  stock  options,  2,617  shares  issuable  upon  conversion
of  preferred  stock  and  2,220  shares  issuable  upon  conversion  of  the  6%
convertible  subordinated  debentures.

For  the  three  months  ended  March  31,  2005,  shares  of  common  stock
issuable  upon  the  conversion  of  outstanding  convertible  preferred
stock  and  convertible  debt  were  excluded  from  the  calculation  of
diluted  net  income  per  share  because  their  effects  would  have  been
anti-dilutive;  that  is,  they  would  have  increased  net  income  per
share.  Weighted  average  shares  outstanding  used  to  calculate  diluted
net  income  per  share  include  the  effect  of  the  assumed  exercise  of
2,294  outstanding  in-the-money  stock  options  which,  pursuant  to  the
treasury-stock  method,  would  have  resulted  in  the  inclusion  of  1,238
diluted  shares  of  common  stock.
 


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