Following completion of the merger between Stratasys, Inc. and Objet Ltd., the Company benefits from a global network of more than 260 resellers and independent sales agents that sell Stratasys products and services worldwide. In this connection, the Company has initiated a comprehensive integration plan, which includes a cross-training program to enable its reseller and sales agent network to market and sell the combined product and service portfolio. The Company expects to conclude the cross-training process within 18 months, yielding a more capable reseller network.The Company spent a net amount of $33.3 million, or 9.3% of its 2012 revenue, on research and development on a pro forma non-GAAP basis and $36.9 million, or 10.3% on a pro forma GAAP basis. The Company’s ongoing combined R&D investments yielded a number of product introductions in the fourth quarter, including:
- Launch of the Objet1000 – the world’s most effective large-format 3D printer for industrial scale prototypes.
- Launch of the Scholar – an accessible and highly affordable PolyJet 3D printer package for academia.
- Introduction of black color ULTEM 9085 – a high-performance thermoplastic, for use in its FDM 3D printing process.
- Introduction of new rigid black PolyJet material and 16 new rigid/rubber-like composites – bringing availability of PolyJet materials to more than 120.