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3D Systems Announces First Quarter Results Contact: VALENCIA, Calif., April 23, 1998 - 3D Systems Corporation (Nasdaq NMS: TDSC) today reported first quarter net income of $354,388, or three cents a share, compared to $387,546 and three cents a share in last year’s first quarter. Revenues for the quarter were $22.8 million, up slightly from $21.5 million a year ago. "Although sales increased only modestly from last year’s level," said Arthur B. Sims, chairman and chief executive officer, "orders were up substantially over 1997’s first quarter and ending backlog was considerably higher than reported at year end, although lower than the year-ago quarter. "Gross margins strengthened from both 1997’s first and fourth quarters, and we are continuing to hold operating expenses under tight rein. "The domestic sales climate, while still challenging, is showing signs of improvement," he said. "Our business in the Asia-Pacific region was strong. In Europe, we believe that we have opportunities for improved performance as our recent European reorganization takes hold, and we capitalize further on last year’s EOS acquisition." 3D Systems manufactures rapid product development systems that enable users to move from concept models to finished parts faster, at lower cost, and at higher quality than traditional methods. 3D's equipment fabricates solid objects using digital input from CAD/CAM/CAE computer systems, substantially reducing the time and costs of bringing new products to market. Major applications include concept modeling, rapid prototyping and rapid tooling for products in a wide range of manufacturing industries worldwide, including the automotive, aerospace, medical, electronic and consumer products industries. Except for the historical information contained in this news release, the matters discussed include forward-looking statements that involve risks and uncertainties, including the availability and acceptance of new products, the impact of competitive products and pricing, the ability of the company to continue to contain expenses, dependence on key personnel, industry-wide domestic and international economic conditions, and other risks detailed in the company's Form 10-K for the year ended December 31, 1997. Download 3D Systems Consolidated Balance Sheets (.pdf 15K) (Windows users: To download this file, right click with your mouse and choose the "Save Target As" or "Save Link As" option.) |