3D Systems Reports Operating Results for Q1 2008

ROCK HILL, S.C.—(BUSINESS WIRE)—May 8, 2008— 3D Systems Corporation (NASDAQ: TDSC), a leading provider of 3-D Modeling, Rapid Prototyping and Manufacturing solutions, announced today its operating results for the first quarter of 2008. The company also filed its Form 10-Q for the first quarter of 2008 with the SEC today.

The company will hold a conference call and simultaneous webcast to discuss its first quarter results tomorrow morning, May 9, 2008, at 9:00 a.m., Eastern Time. Additional information relating to that call and webcast is provided below.

The company reported the following first quarter 2008 results compared to its 2007 first quarter:

  • Revenue declined by 14% to $31.8 million primarily as a result of lower large-frame systems sales and the uncertain current business climate.
  • Gross profit declined by 16% to $13.4 million primarily due to this lower volume, resulting in a one percentage point gross profit margin decline to 42%.
  • Continuing a trend, operating expenses declined by 7% to $16.7 million.
  • Net loss rose by $0.6 million to $3.7 million for the first quarter of 2008.
  • Net loss per share increased by $0.01 to $0.17 for the quarter.

I am deeply disappointed with the revenue decline that we experienced during the first quarter, a decline that impacted our entire operating results for the quarter, said Abe Reichental, President and Chief Executive Officer of 3D Systems.

Operating Highlights

First Quarter of 2008

($ in millions except for per share amounts)

Operating Highlights First Quarter
2008

2007

%

Change

Revenue $ 31.8 $ 36.9 (14 %)
Gross profit $ 13.4 $ 15.9
% of Revenue 42 % 43 % (16 %)
Operating expenses $ 16.7 $ 18.0
% of Revenue 52 % 49 % (7 %)
Operating loss ($3.2 ) ($2.1 )
% of Revenue (10 %) (6 %) 56 %
Net loss ($3.7 ) ($3.1 ) 18 %
Diluted loss per share ($0.17 ) ($0.16 ) 6 %
Unrestricted cash $ 21.9

$29.7

(a)

(26 %)
Depreciation and amortization
$ 1.4 $ 1.8
% of Revenue 4 % 5 % (25 %)

(a) December 31, 2007


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