Jul.28, 2012

3D Systems Corp announced Thursday a decline in profit for the second quarter, due mainly higher operating expenses and tax provisions.

Total revenues for the quarter surged to $83.61 million from $55.13 million in the prior-year quarter. The company's second-quarter net profit was $8.3 million, resulting in $0.16 earnings per share.

 

Adjusted income for the quarter rose to $13.95 million or $0.27 per share from $9.72 million or $0.19 per share in the prior-year quarter.

 

For the quarter, total operating expenses increased to $28.97 million from $17.20 million in the year-ago quarter. The company posted an income tax provision of $1.94 million compared to income tax benefit of $5.48 million last year.

"We entered the third quarter with positive sales momentum reflecting continued strong demand and record backlog. While we may face lingering economic uncertainties in parts of the world, we expect to continue to benefit from robust R&D spending by our customers worldwide," said Abe Reichental, 3D Systems' President and Chief Executive Officer.

In a recently cnbc news (below) Abe Reichental discusses demand in Europe, the U.S. economy, and his company's growth strategies. "Customers in Europe have to continue to invest. They're under pressure to stay competitive." "Our business in Europe grew 33 percent year-over-year for the second quarter, and demand remains strong in Europe." he says.

 

Source: rttnews

 

Posted in 3D Printing Companies

 

 

Maybe you also like:


 




Leave a comment:

Your Name:

 


Subscribe us to

3ders.org Feeds 3ders.org twitter 3ders.org facebook   

About 3Ders.org

3Ders.org provides the latest news about 3D printing technology and 3D printers. We are now six years old and have around 1.5 million unique visitors per month.

News Archive