Consolidated revenue for the 2017 fourth quarter grew 38% over the prior-year fourth quarter. Machine revenue was up 72% to $12.9 million, driven by 16 machines sold in the 2017 fourth quarter, compared with 12 in the 2016 fourth quarter. Non-machine revenue was up 2% to $7.3 million in the fourth quarter of 2017, compared with the prior year.

For the year, consolidated revenue grew 21% to $57.7 million compared with 2016. Excluding revenue attributable to product lines that the Company has exited, the comparable revenue grew 25%. Machine revenue was up 43%, driven by eight more machines sold, for a total of 41 in 2017. Non-machine revenue was up 4% in 2017. Excluding revenue attributable to product lines that the Company has exited, the comparable non-machine revenue grew by 10%.

Given the long sales cycle and significance of a machine’s average selling price relative to total revenue, fluctuations in machine-sale revenue vary from quarter to quarter. ExOne does not believe that such quarter-to-quarter fluctuations are necessarily indicative of larger trends.

Fourth Quarter Operations – Impacted by Accelerated Investments

	($ in millions, except per-share amounts)				Q4 2017		Q4 2016		Change		% Change
	Gross profit				$6.7		$5.2		$1.5		28%
	Gross margin				33.0%		35.7%
	Operating loss				($1.9)		($2.4)		$0.5		21%
	Net loss				($1.9)		($2.6)		$0.7		23%
	Diluted EPS				$ (0.12)		$ (0.16)		$0.04		25%

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