On August 8, 2018, Beijing time, 3D Systems Corporation (NYSE: DDD) today announced its financial results for the second quarter ended June 30, 2018.
In the second quarter of 2018, 3D Systems' revenue increased 11% to $ 176.6 million, compared to $ 159.5 million in the second quarter of last year. The company reported a GAAP loss per share of $ 0.08 in 2018 and the second quarter of 2017, non-GAAP earnings per share of $ 0.06 in the second quarter of 2018, and non-GAAP earnings per share of $ 0.08 in the second quarter of 2017.
3D Systems CEO Vyomesh Joshi was pleased with the results for the second quarter, saying it was due to strong revenue growth, including printer revenue and sales growth. He also praised the continuous execution of the 3D system and mentioned the early return on investment in innovation research and development and market entry.
According to 3D Systems' data, printer revenue increased 41%, printer sales increased 37%, medical solutions increased 26%, and materials and on-demand manufacturing continued to grow.
The company reported a GAAP gross profit margin of 48.8% in the second quarter of 2018, compared to 50.6% in the second quarter of last year. The benefits of cost reductions are used to make up for losses in sales and investment.
How is 3D Systems doing in terms of investment and investment?
In the second quarter of 2018, operating expenses were $ 93.9 million (based on US GAAP), compared to $ 87.5 million in the same period last year. Selling and administrative expenses increased by 13% to $ 71.2 million, including ongoing investment in market entry, IT conversion, and higher legal costs. R & D expenses for 3D Systems were US $ 22.7 million, a 7% decrease from the same period last year. The company expects to continue launching new products as planned this year.
"We are very satisfied with the progress made in our investments and the hard work of our employees in the first half of 2018," commented John McMullen, Executive Vice President and Chief Financial Officer. "We continue to make investments that we believe are critical to success, while continuously improving our cost structure over long-term plans."
During the quarter, 3D Systems generated $ 10.7 million in cash operations, and at the end of the quarter, unlimited cash was $ 119.3 million.
"In addition to our performance in the second quarter, we are also very excited to partner with Georg Fischer, a respected leader in processing solutions that can create new integrated solutions and expand our global network and markets .As we launch new products in 2018, I believe our product portfolio is second to none in terms of coverage and competitiveness, and we will continue to focus on execution and operational efficiency to drive future long-term growth and profitability. "Joshi concluded Road.