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3D Systems Corp. (TDSC) filed Quarterly Report for the period ended 2011-09-30.
3d Systems Corp. has a market cap of $928.5 million; its shares were traded at around $0 with a P/E ratio of 38.1 and P/S ratio of 5.7.
This is the annual revenues and earnings per share of TDSC over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of TDSC.
Highlight of Business Operations:
During the third quarter of 2011 we reported increases in revenue and profit compared to the third quarter of 2010 as our worldwide business continued to expand. Revenue for the third quarter of 2011 improved by 38.6% to $57.5 million from $41.5 million for the third quarter of 2010. Revenue increased across all classes of products and services, led by a $10.3 million, or 194.6%, increase in custom parts services revenue and a $4.2 million or 29.6% increase in materials revenue. Higher revenue, coupled with improved gross profit margins, enabled us to achieve net income of $7.2 million for the third quarter of 2011, compared to $5.4 million in the same period of 2010. Revenue for the nine months ended September 30, 2011 increased 48.3% to $160.6 million from $108.3 million in 2010, and net income increased 170.8% to $27.4 million from $10.1 million for 2010 for primarily the same reasons.Gross profit for services for the third quarter of 2011 increased by $5.6 million, or 116.9%, to $10.5 million from $4.9 million for the 2010 quarter, and gross profit margin for services increased by 5.3 percentage points to 43.3% from 38.0% in the 2010 quarter. The increase in gross profit was due primarily to higher levels of revenue associated with our custom parts services. The increase in gross profit margin for services is primarily due to expanded gross profit on custom parts services from increased synergies from the integration of acquired custom parts services compared to the 2010 quarter. Custom parts services had a gross profit margin of 42.4% for the third quarter of 2011 compared to 26.1% for 2010. Printer services had a gross profit margin of 42.8% compared to 46.5% for the third quarter of 2010 and 47.2% for the second quarter of 2011.
Selling, general and administrative expenses increased by $4.1 million to $15.1 million in the third quarter of 2011 compared to $11.0 million in the third quarter of 2010, but decreased to 26.2% of revenue in 2011, compared to 26.4% for 2010. The increase was due primarily to a $1.4 million increase in compensation costs due to commissions on higher revenues and operating costs of acquired businesses. SG&A expenses were also impacted by a $0.8 million increase in litigation expenses, $0.3 million of acquisition related expenses, a $0.6 million increase in amortization expense from acquired intangibles and a $0.3 million increase in bad debt expense.
Gross profit for services for the first nine months of 2011 increased by $15.2 million, or 130.0%, to $26.9 million from $11.7 million for the 2010 period, and gross profit margin for services increased by 5.0 percentage points to 41.0% from 36.0% in the 2010 period. The increase in gross profit was primarily due to higher levels of revenue associated with our custom parts services and printer services. The increase in gross profit margin for services is primarily due to increased synergies from the integration of acquired custom parts services, partially offset by a lower gross profit margin on our printer services. Custom parts services had a gross profit margin of 37.9% for the first nine months of 2011 compared to 18.6% in the 2010 period. Printer services had a gross profit margin of 45.0% during the first nine months of 2011 compared to 45.6% during the 2010 period.
Selling, general and administrative expenses increased by $12.3 million to $42.2 million in the first nine months of 2011 compared to $29.9 million in the first nine months of 2010, but decreased to 26.3% of revenue in 2011 compared to 27.6% in 2010. The increase was due primarily to a $4.3 million increase in compensation costs due to commissions on higher revenues, operating costs of acquired businesses and $0.4 million of restructuring expenses. Additionally, SG&A expenses were impacted by a $1.9 million increase in litigation expenses, a $2.2 million increase in amortization expense due to acquired intangibles, a $1.0 million increase in bad debt expense, a $0.7 million increase in accounting and consulting fees, a $0.5 million increase in legal fees, a $0.5 million increase in marketing expenses, $0.3 million increase in occupancy costs and a $0.3 million increase in travel expenses.
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