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Nasdaq:TDSC
3D
Systems Corporation designs, manufactures, markets and supports, on an
international basis, solid imaging systems and related materials.
3D Systems Corporation conçoit,
fabrique, commercialise et soutient, sur une base internationale, des systèmes
d'images de volumes et des matériaux relatifs.
3D
Systems Announces Investor Day on May 1, 2007 in Detroit, Michigan
Rock Hill, South Carolina,
Apr. 17, 2007 - 3D Systems Corporation (NASDAQ: TDSC), a leading provider
of 3-D Modeling, Rapid Prototyping and Manufacturing solutions, announced
today that it will hold an Investor Day on May 1, 2007 in conjunction with
the Rapid Prototyping and Manufacturing Show (RP&M). 3D Systems’ Abe
Reichental, president and chief executive officer, will present an overview
of the Company as well as its business strategies. Kevin McAlea, 3D Systems’
vice president, general manager Sintering Products business unit, will
provide an update on the Company’s Rapid Prototyping Systems, and Rob Connelly
of Fineline Prototyping will give a customer review. A Questions &
Answers session and tour of 3D Systems’ Rapid 2007 Trade Show Display will
follow the presentation.
3D Systems plans to display
its new, revolutionary V-Flash™ Desktop Modeler, the Viper™ Pro SLA®
Systems and its suite of Rapid Prototyping and Manufacturing materials
at the RP&M (Rapid) Show on May 1-3, 2007 at the Marriott Renaissance
Hotel in Detroit, Michigan. Show attendees can visit the 3D Systems’ booth
at #411.
3D
Systems Delays Filing its Form 10 K and Reports Preliminary Operating Results
for Fourth Quarter 2006
Rock Hill, South Carolina,
Mar. 19, 2007 - 3D Systems Corporation (NASDAQ: TDSC), a leading provider
of Rapid 3-D Modeling, Prototyping and Manufacturing solutions, announced
that it filed today with the Securities and Exchange Commission (“SEC”)
a Form 12b 25 indicating that it was unable to file its Annual Report on
Form 10 K by Friday’s initial filing deadline. A Form 12b 25 filing provides
the company an automatic fifteen-day extension of the time for it to file
its Annual Report on Form 10 K and still be considered timely under SEC
rules.
The company also delayed
issuing its 2006 year-end operating results but is reporting today its
preliminary expectations for its operating results for the fourth quarter
of 2006. The company will hold a conference call and simultaneous webcast
to discuss this delay and its preliminary results tomorrow morning, March
20, 2007, at 8:30 a.m., Eastern Time.
The company’s delay in completing
its financial statements for 2006 is due primarily to the time that it
took to complete the restated financial statements and its Form 10 Q for
the third quarter of 2006 that the company filed with the SEC on February
2, 2007. As a result of the work necessary to complete these restatements,
the company was not able to begin to work on closing its fourth-quarter
or full-year 2006 financial statements until after these activities were
completed. The company intends to file its Form 10-K and issue its fourth-quarter
and year-end 2006 operating results as soon as practicable.
The company expects to report
revenue for the fourth quarter of 2006 in the range of $42 million to $44
million with approximately $5 million of backlog that the company was not
able to ship or recognize as revenue prior to year-end.
The company expects to report
that sales of its engineered materials and composites continued to increase
at a double-digit rate for the fourth quarter of 2006, reflecting the continued
strong demand for these products.
The company also expects
to report that its service revenue rebounded back to its fourth-quarter
2005 level. Service revenue includes installation, training, service contract
revenue and deferred warranty revenue. The company believes the fourth
quarter's service revenue was not impeded by issues related to the ERP
implementation and change in parts distribution that were previously encountered
during the second and third quarters of 2006.
The company expects to report
gross profit in the range of $16 million to $17 million for the fourth
quarter of 2006. Gross profit is expected to be lower than that for the
fourth-quarter 2005 as a result of changes in revenue mix and the lingering
effects of disruptions that the company encountered earlier in the year
related to the implementation of its new ERP system, supply chain and logistics
disruptions and special accommodations that the company extended to certain
customers who experienced systems’ delays or disruptions. Lower gross profit
also reflects lower profitability of the company’s service activities due
to the absence of system upgrade sales, which the company had in 2005 and
decided to discontinue in 2006 as part of its overall strategy.
The company expects to report
that its operating expenses for the fourth quarter were in the range of
$19 million to $21 million reflecting the residual expenses of its relocation
to Rock Hill, S.C., ERP implementation costs and abnormally high expenses
incurred in connection with its financial restatements.
The company also expects
to report a net pre-tax loss in the range of $3 million to $5 million for
the fourth quarter of 2006.
The company also expects
to report that at year-end 2006 it had $14 million of unrestricted cash
on hand, of which approximately $8 million was drawn from its bank credit
facility.
There can, of course, be
no assurance that the final results that the company reports will be within
the ranges set forth above.
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