3D Systems Reports Third Quarter 2019 Financial Results

(a) For comparative purposes, prior year finance lease assets have been reclassified from "Property and equipment, net" to "Right of use assets". Prior year finance lease liabilities have been reclassified as right of use liabilities.

3D Systems Corporation
Unaudited Condensed Consolidated Statements of Operations
Quarter and Nine Months Ended September 30, 2019 and 2018

  Quarter Ended September 30,   Nine Months Ended September 30,
(in thousands, except per share amounts) 2019   2018   2019   2018
Revenue:              
Products $ 94,506   $ 99,922   $ 280,611   $ 316,153
Services 60,766   64,589   183,913   190,795
Total revenue 155,272   164,511   464,524   506,948
Cost of sales:              
Products 58,044   54,444   166,809   168,062
Services 29,947   32,257   91,430   97,045
Total cost of sales 87,991   86,701   258,239   265,107
Gross profit 67,281   77,810   206,285   241,841
Operating expenses:              
Selling, general and administrative 58,275   65,600   195,036   206,225
Research and development 20,940   23,194   63,654   71,788
Total operating expenses 79,215   88,794   258,690   278,013
Loss from operations (11,934)   (10,984)   (52,405)   (36,172)
Interest and other (expense) income, net (2,818)   1,027   (6,774)   1,135
Loss before income taxes (14,752)   (9,957)   (59,179)   (35,037)
Provision for income taxes (2,010)   (1,593)   (5,793)   (6,086)
Net loss (16,762)   (11,550)   (64,972)   (41,123)
Less: net income attributable to noncontrolling interests 81     195   246
Net loss attributable to 3D Systems Corporation $ (16,843)   $ (11,550)   $ (65,167)   $ (41,369)
               
Net loss per share available to 3D Systems Corporation common stockholders - basic and diluted $ (0.15   $ (0.10)   $ (0.57)   $ (0.37)

3D Systems Corporation

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