"We have worked with 3D Systems for many years to accelerate adoption of 3D content-to-print solutions and believe that now is the right time to combine our efforts to further democratize access to design and 3D printing," said Ping Fu, Founder and CEO of Geomagic. "Joining 3D Systems provides us with the scale, resources and strategic platform to realize our shared vision of delivering functional, affordable and extensible 3D authoring solutions for the benefit of professional designers and engineers, as well as the exciting maker's movement."
Strategic and Financial Benefits
- Growing reseller channel accelerates revenue growth from combined portfolio and presence
- Profitable razor and blades business with accretive software gross profit margins enhances non-GAAP earnings power
- Highly complementary portfolio delivers powerful and affordable design and manufacturing solutions and greater customer value
- Expected to be accretive to non-GAAP earnings in the first full year following completion of transaction (1)
(1) The statements regarding non-GAAP earnings are not intended to be a profit forecast and should not be interpreted to mean that earnings for the current or future financial periods will necessarily be greater than those for the relevant preceding financial period. When we speak of non-GAAP earnings above, we are speaking of our post-acquisition expectation for earnings taking account of certain non-cash items such as amortization, non-cash compensation and non-cash interest.
Forward-Looking StatementsCertain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as "believes," "belief," "expects," "estimates," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Forward-looking statements may include comments as to the company's beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings "Forward-Looking Statements," "Cautionary Statements and Risk Factors," and "Risk Factors" in the company's periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements.