{"id":68082,"date":"2019-07-29T12:52:15","date_gmt":"2019-07-29T04:52:15","guid":{"rendered":"http:\/\/facfox.com\/news\/aerospace\/3d-systems-financial-results-for-q1-2019.3dm"},"modified":"2019-07-29T12:52:15","modified_gmt":"2019-07-29T04:52:15","slug":"3d-systems-financial-results-for-q1-2019","status":"publish","type":"post","link":"https:\/\/facfox.com\/news\/3d-systems-financial-results-for-q1-2019\/","title":{"rendered":"3D Systems financial results for Q1 2019"},"content":{"rendered":"<div id=\"dpsp-content-top\" class=\"dpsp-content-wrapper dpsp-shape-rectangular dpsp-size-medium dpsp-has-spacing dpsp-has-buttons-count dpsp-show-on-mobile dpsp-button-style-1\">\n<ul class=\"dpsp-networks-btns-wrapper dpsp-networks-btns-content dpsp-networks-btns-share dpsp-column-auto\">\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><\/span><\/li>\n<\/ul>\n<\/div>\n<p><span style=\"font-weight: 400;\">3D Systems<\/span><span style=\"font-weight: 400;\"> financial results for Q1 of 2019 show a decline in revenue at the 3D printer manufacturer. Dissatisfaction with the latest results led to a dramatic 20% fall in the company\u2019s share-price.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On a call with investors and analysts, 3D Systems CEO Vyomesh \u201cVJ\u201d Joshi stated, \u201cRevenue in the first quarter was $152 million, an 8% decrease from the first quarter of 2018. Excluding large enterprise customer orders from both periods, total revenue decreased 5%.\u201d <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the earnings call, VJ detailed the ongoing efforts around reduced operating costs and the continued development and sales of materials, in particular, dental materials.<\/span><\/p>\n<figure id=\"attachment_155099\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-155099 size-full\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/05\/3D-Systems-graphs.jpg\" alt=\"Q1 2019 revenue drivers for 3D Systems. Image via 3D Systems.\" width=\"1280\" height=\"720\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/05\/3D-Systems-graphs.jpg 1280w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/05\/3D-Systems-graphs-1024x576.jpg 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/05\/3D-Systems-graphs-770x433.jpg 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/05\/3D-Systems-graphs-200x113.jpg 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/05\/3D-Systems-graphs-500x281.jpg 500w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><figcaption class=\"wp-caption-text\">Q1 2019 revenue drivers for 3D Systems. Image via 3D Systems.<\/figcaption><\/figure>\n<p><b>Revenue by segments<\/b><\/p>\n<p><span style=\"font-weight: 400;\">3D Systems revenue is reported by the company in two business segments: Products and Services. In Q1 2019, Products revenue for the company fell 12.4% to $92.3 million from the comparative figure of $105.4 million in Q1 2018. Services revenue in Q1 2019 decreased 1.3% to $59.6 million from $60.4 million in Q1 2018.<\/span><\/p>\n<style type=\"text\/css\"><!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--><\/style>\n<table dir=\"ltr\" border=\"1\" cellspacing=\"0\" cellpadding=\"0\">\n<colgroup>\n<col width=\"221\" \/>\n<col width=\"100\" \/>\n<col width=\"100\" \/>\n<col width=\"146\" \/>\n<col width=\"100\" \/><\/colgroup>\n<tbody>\n<tr>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Revenue&quot;}\">Revenue<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Q1 2019&quot;}\">Q1 2019 ($k)<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Q1 2018&quot;}\">Q1 2018 ($k)<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Variance $ millions&quot;}\">Variance ($k)<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;%&quot;}\">%<\/td>\n<\/tr>\n<tr>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Products&quot;}\">Products<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:92347}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\">92,347<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:105447}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\">105,447<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-13100}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=R[0]C[-2]-R[0]C[-1]\">-13,100<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-0.12423302701831251}\" data-sheets-numberformat=\"{&quot;1&quot;:3,&quot;2&quot;:&quot;0.00%&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=(R[0]C[-3]-R[0]C[-2])\/R[0]C[-2]\">-12.42%<\/td>\n<\/tr>\n<tr>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Services&quot;}\">Services<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:59633}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\">59,633<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:60422}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\">60,422<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-789}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=R[0]C[-2]-R[0]C[-1]\">-789<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-0.013058157624706232}\" data-sheets-numberformat=\"{&quot;1&quot;:3,&quot;2&quot;:&quot;0.00%&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=(R[0]C[-3]-R[0]C[-2])\/R[0]C[-2]\">-1.31%<\/td>\n<\/tr>\n<tr>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Total&quot;}\">Total<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:151980}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=SUM(R[-2]C[0]:R[-1]C[0])\">151,980<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:165869}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=SUM(R[-2]C[0]:R[-1]C[0])\">165,869<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-13889}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=R[0]C[-2]-R[0]C[-1]\">-13,889<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-0.0837347545352055}\" data-sheets-numberformat=\"{&quot;1&quot;:3,&quot;2&quot;:&quot;0.00%&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=(R[0]C[-3]-R[0]C[-2])\/R[0]C[-2]\">-8.37%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">In the Products segment, despite the fact that the number of 3D printers sold rose by 90% in Q1 2019, total 3D printer revenue dropped by 29%. In addition to this, income from software fell by 8% to $20.8 million and materials revenue declined by 3% in Q1 2019. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the Services segment, on-demand manufacturing services revenue fell 12% to <\/span><span style=\"font-weight: 400;\">$20.8 million in the first quarter of 2019<\/span><span style=\"font-weight: 400;\">. H<\/span><span style=\"font-weight: 400;\">ealthcare and simulation revenue (also in Services segment) increased in Q1 2019. Joshi explained the movements were offset by the timing of large customer orders, therefore the total healthcare solutions revenue dropped by 5% to $50 million in the first quarter of 2019.  <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Executive Vice President and Chief Financial Officer of 3D Systems, John McMullen, said, \u201cExcluding the larger enterprise customers orders from each year, healthcare revenues increased approximately 18%.\u201d <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this regard, the success of 3D Systems\u2019 <\/span><span style=\"font-weight: 400;\">NextDent 5100<\/span><span style=\"font-weight: 400;\"> was particularly noted. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In line with 3D System\u2019s financial strategy, the operating expenses of the company were brought down to $87 million in Q1 2019 from $95.3 million. A decrease in R&amp;D revenue to $21.9 million in Q1 2019 from $25.8 million in Q1 2018 was reported.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Overall 3D Systems\u2019 net loss increased from $20,971 to $24,350 in Q1 2019.<\/span><\/p>\n<p><b>Managing operating costs<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Joshi said, \u201cWe reduced operating expenses both year-over-year and sequentially [&#8230;] GAAP operating expenses decreased 9% to $87 million.\u201d The reductions also included cuts to the R&amp;D expenses by 15%.  <\/span><\/p>\n<p><span style=\"font-weight: 400;\">John McMullen also added, \u201cWhile cash use and generation will continue to fluctuate from period-to-period, we expect to generate organic free cash flow in 2019 as we significantly reduce inventory through the end of the year and reduce capital expenditures compared to the prior year.\u201d<\/span><\/p>\n<style type=\"text\/css\"><!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--><\/style>\n<table dir=\"ltr\" border=\"1\" cellspacing=\"0\" cellpadding=\"0\">\n<colgroup>\n<col width=\"221\" \/>\n<col width=\"100\" \/>\n<col width=\"100\" \/>\n<col width=\"146\" \/>\n<col width=\"100\" \/><\/colgroup>\n<tbody>\n<tr>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Operating expenses:&quot;}\">Operating expenses:<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Q1 2019 &quot;}\">Q1 2019<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Q1 2018&quot;}\">Q1 2018<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Variance $ millions&quot;}\">Variance $ millions<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;%&quot;}\">%<\/td>\n<\/tr>\n<tr>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Selling, general and administrative&quot;}\">Selling, general and administrative<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:65107}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\">65,107<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:69452}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\">69,452<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-4345}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=R[0]C[-2]-R[0]C[-1]\">-4,345<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-0.06256119334216437}\" data-sheets-numberformat=\"{&quot;1&quot;:3,&quot;2&quot;:&quot;0.00%&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=(R[0]C[-3]-R[0]C[-2])\/R[0]C[-2]\">-6.26%<\/td>\n<\/tr>\n<tr>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Research and development&quot;}\">Research and development<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:21903}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\">21,903<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:25882}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\">25,882<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-3979}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=R[0]C[-2]-R[0]C[-1]\">-3,979<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-0.15373618731164515}\" data-sheets-numberformat=\"{&quot;1&quot;:3,&quot;2&quot;:&quot;0.00%&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=(R[0]C[-3]-R[0]C[-2])\/R[0]C[-2]\">-15.37%<\/td>\n<\/tr>\n<tr>\n<td data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Total operating expenses &quot;}\">Total operating expenses<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:87010}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\">87,010<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:95334}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\">95,334<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-8324}\" data-sheets-numberformat=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;#,##0&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=R[0]C[-2]-R[0]C[-1]\">-8,324<\/td>\n<td data-sheets-value=\"{&quot;1&quot;:3,&quot;3&quot;:-0.08731407472675017}\" data-sheets-numberformat=\"{&quot;1&quot;:3,&quot;2&quot;:&quot;0.00%&quot;,&quot;3&quot;:1}\" data-sheets-formula=\"=(R[0]C[-3]-R[0]C[-2])\/R[0]C[-2]\">-8.73%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p><b>Integrated powder management unit<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Last year, 3D Systems introduced the <\/span><span style=\"font-weight: 400;\">DMP line of metal 3D printers<\/span><span style=\"font-weight: 400;\">. In the last quarter of 2018, 3D Systems shipped three of its DMP machines: the DMP Flex 350, the DMP Factory 350, and <\/span><span style=\"font-weight: 400;\">DMP Factory 500<\/span><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, Joshi explained, \u201cDuring the first quarter, as the DMP Factory 350 systems had more rigorous use [as more customers began to use the systems], we identified a technical issue in the Powder Management Unit resulting in level of reliability and robustness below our standards.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Joshi clarified that the loss in the metal segment revenues in Q1 2019 is not due to poor sales of 3D Systems\u2019 machines. But only has to do with the technical issues related to the powder management system with DMP 350 which negatively impacted the revenues by $8 million.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Joshi explained further, \u201cour metal business actually did extremely well except for the 350 Powder Management Unit shipment that I talked about [&#8230;] So our metal business is absolutely growing year-over-year. What we had expected that we will be able to ship the other metal units is where that $8 million problem that I&#8217;m talking about [&#8230;] We had orders for these units that we would not able to ship because of the technical issue.\u201d<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201cWe expect to continue to ramp sales of our DMP printers and put in place technical enhancements for the Powder Management Unit this year.\u201d<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Furthermore, to counter the revenue decrease in on-demand manufacturing, 3D Systems launched an online portal for on-demand services, last month. \u201cThe portal standardizes and automates export-related processes, which we believe helps us return to growth in our on-demand services,\u201d said Joshi.<\/span><\/p>\n<figure id=\"attachment_143480\" style=\"width: 2048px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-143480 size-full\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/11\/3D-systems-dmp-factory-350-powder-management-300dpi.jpg\" alt=\"Tbe 3D Systems DMP Factory 350 metal 3D printer. Photo via 3D Systems.\" width=\"2048\" height=\"1152\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/11\/3D-systems-dmp-factory-350-powder-management-300dpi.jpg 2048w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/11\/3D-systems-dmp-factory-350-powder-management-300dpi-1024x576.jpg 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/11\/3D-systems-dmp-factory-350-powder-management-300dpi-770x433.jpg 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/11\/3D-systems-dmp-factory-350-powder-management-300dpi-200x113.jpg 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/11\/3D-systems-dmp-factory-350-powder-management-300dpi-500x281.jpg 500w\" sizes=\"(max-width: 2048px) 100vw, 2048px\" \/><figcaption class=\"wp-caption-text\">The 3D Systems DMP Factory 350 metal 3D printer. Photo via 3D Systems.<\/figcaption><\/figure>\n<p><b>Restructuring the business<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Vyomesh Joshi also spoke of restructuring the business to save costs. VJ said, \u201c<\/span><span style=\"font-weight: 400;\">We are migrating to two primary businesses within the company.\u201d <\/span><span style=\"font-weight: 400;\">One will cover plastic and metal hardware, and materials and on-demand services, and the other will be responsible for software and healthcare workflow solutions. <\/span><span style=\"font-weight: 400;\"> <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Joshi emphasized this point, saying, \u201cWe are focused on improving our cost structure and continue to refine the organization and operations to drive profitable growth.\u201d <\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201cWe have taken actions to accelerate previously planned cost reductions and we will be taking additional steps over the coming quarters to reduce total 2019 expenses by $10 million to $15 million on top of our original plans for this year.\u201d<\/span><\/p>\n<\/blockquote>\n<figure id=\"attachment_117509\" style=\"width: 2048px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-117509 size-full\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/07\/3D-Systems-Rapid-Printing-Dental-Solutions.-Photo-by-Michael-Petch..jpg\" alt=\"3D Systems Rapid Printing Dental Solutions. Photo by Michael Petch.\" width=\"2048\" height=\"1536\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/07\/3D-Systems-Rapid-Printing-Dental-Solutions.-Photo-by-Michael-Petch..jpg 2048w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/07\/3D-Systems-Rapid-Printing-Dental-Solutions.-Photo-by-Michael-Petch.-1024x768.jpg 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/07\/3D-Systems-Rapid-Printing-Dental-Solutions.-Photo-by-Michael-Petch.-770x578.jpg 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/07\/3D-Systems-Rapid-Printing-Dental-Solutions.-Photo-by-Michael-Petch.-200x150.jpg 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/07\/3D-Systems-Rapid-Printing-Dental-Solutions.-Photo-by-Michael-Petch.-500x375.jpg 500w\" sizes=\"(max-width: 2048px) 100vw, 2048px\" \/><figcaption class=\"wp-caption-text\">3D Systems Rapid Printing Dental Solutions. Photo by Michael Petch.<\/figcaption><\/figure>\n<p><b>Q2 expectations and future goals<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Going ahead, CFO John McMullen explained that for 3D Systems Q2 of FY 2019 will not be very different from Q1.  <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Joshi clarified further, \u201cAs far as the metals issues getting all solved in Q2 will not happen. This is really something that we will continue to see in Q2. And then in second half, we will be able to ship [the powder management unit]\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, 3D Systems has reiterated that it is positive about the growth and sales of its 3D printing materials. Joshi said, \u201cwe expect materials growth to improve in the second half of 2019 and we plan to launch new materials for plastics this year, which we believe will help fuel additional growth later this year and into 2020.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Joshi adds \u201cthe core business, which is our SLA machines, our SLS machines, our MJP machines; this core will also continue to grow. So as our legacy [printers] decline being offset by our core and new materials, that&#8217;s why we are confident that in second half of 2019, we&#8217;re going to see positive materials growth.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In conclusion, the CEO of 3D Systems\u2019 insisted that the sales of metal 3D printers is going strong. Furthermore, he added that \u201cwe&#8217;re going to continue to drive more growth in the dental business,\u201d and 3D System\u2019s SLA machines will boost this growth.  <\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201cThe next will be the Figure 4 with the new materials. I feel very good about that. We will continue to grow our wax-based MJP printer and then, the last one is our SLS machine with 6100 [ProX SLS 6100].\u201d<\/span><\/p>\n<\/blockquote>\n<p>These latest financial results for 3D Systems may have left long-term investors dissatisfied, however at least one investor may be smiling. As we reported, a significant options trade was made prior to the publication of these financial results and is likely to have netted a substantial profit.<\/p>\n<p><i><span style=\"font-weight: 400;\">2019 <a href=\"\/service\/3d-printing\"> Awards<\/span><\/i><i><span style=\"font-weight: 400;\"> are near. Vote now for the best enterprise 3D printer of the year.<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">To learn more about financial trends in the additive manufacturing industry, subscribe to our <\/span><\/i><i><span style=\"font-weight: 400;\">3D printing newsletter<\/span><\/i><i><span style=\"font-weight: 400;\">. You can also join us on <\/span><\/i><i><span style=\"font-weight: 400;\">Facebook<\/span><\/i><i><span style=\"font-weight: 400;\"> and <\/span><\/i><i><span style=\"font-weight: 400;\">Twitter<\/span><\/i><i><span style=\"font-weight: 400;\">. <\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">For jobs in the industry, visit our <\/span><\/i><i><span style=\"font-weight: 400;\"><a href=\"\/service\/3d-printing\"> Jobs<\/span><\/i><i><span style=\"font-weight: 400;\"> page.<\/span><\/i><\/p>\n<p><em>Featured image shows Vyomesh Joshi onstage during IMTS 2016, putting the customer at the center of strategy. Photo by Michael Petch.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>3D Systems financial results for Q1 of 2019 show a decline in revenue at the 3D printer manufacturer. Dissatisfaction with the latest results led to a dramatic 20% fall in the company\u2019s share-price. On a call with investors and analysts, 3D Systems CEO Vyomesh \u201cVJ\u201d Joshi stated, \u201cRevenue in the first quarter was $152 million, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":182350,"comment_status":"open","ping_status":"close","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"fifu_image_url":"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2019\/05\/3D-Systems-graphs.jpg","fifu_image_alt":"","footnotes":""},"categories":[53],"tags":[169,170,173],"class_list":["post-68082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aerospace","tag-3dprint","tag-3dprinting","tag-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>3D Systems financial results for Q1 2019 - FacFox News<\/title>\n<meta name=\"description\" content=\"3D Systems financial results for Q1 of 2019 show a decline in revenue at the 3D printer manufacturer. 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