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November 22, 2009 4:59:53 PM EST

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3D Systems Reports Operating Results for the Third Quarter Improved Net Income and Gross Profit Margin on Sequentially Higher Revenue and Reduced Operating Expenses
Tuesday November 03, 2009 16:35:20 EST

ROCK HILL, S.C., Nov 3, 2009 (GlobeNewswire via COMTEX News Network) --

3D Systems Corporation (Nasdaq:TDSC), a leading provider of 3-D Printing, Rapid Prototyping and Manufacturing parts and systems solutions, announced its operating results for the third quarter and first nine months of 2009 today.

The company reported diluted earnings per share of 4 cents for the third quarter of 2009 on lower revenue. Gross profit margin and operating expenses both improved compared to the third quarter of 2008.

The company reported $0.9 million of third quarter net income, including $1.8 million of non-cash expenses primarily related to depreciation and amortization expense.

The company's cash position remained unchanged from the previous quarter. For the first nine months of 2009, the company generated $1.8 million of net cash to end the period with $24.0 million of available cash compared to $22.2 million at December 31, 2008.

The table below summarizes the company's key financial results for the third quarters and first nine months of 2009 and 2008.

Operating Highlights Third Quarters and First Nine Months ($ in millions except for per share amounts)

---------------------------------------------------------------------- Third Quarter First Nine Months ---------------------------------------------------------------------- % % Change Change Operating Favorable Favorable Highlights 2009 2008 (Unfavorable) 2009 2008 (Unfavorable) ---------------------------------------------------------------------- Revenue $ 27.7 $ 35.6 (22%) $ 76.4 $104.0 (27%) ---------------------------------------------------------------------- Gross profit $ 12.3 $ 14.0 (12%) $ 33.6 $ 40.3 (17%) % of Revenue 45% 39% 44% 39% ---------------------------------------------------------------------- Operating expenses $ 11.2 $ 14.3 22% $ 35.0 $ 47.1 26% % of Revenue 41% 40% 46% 45% ---------------------------------------------------------------------- Operating income (loss) $ 1.1 ($0.3) 473% ($1.4) ($6.8) 80% ---------------------------------------------------------------------- Net income (loss) $ 0.9 ($1.0) 191% ($2.5) ($8.0) 69% ====================================================================== Diluted earnings (loss) per share $ 0.04 ($0.04) 190% ($0.11) ($0.36) 69% ---------------------------------------------------------------------- Available cash $ 24.0 $ 18.1 32% $ 24.0 $ 18.1 32% ---------------------------------------------------------------------- Depreciation & Amorti- zation $ 1.3 $ 1.8 28% $ 4.3 $ 5.0 12% % of Revenue 5% 5% 6% 5% ----------------------------------------------------------------------

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