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The ExOne Company Reports Revenue Growth On Higher Machine Sales In Fourth Quarter 2012

Stocks in this article: XONE

  • Achieved record quarterly sales of $12.7 million; Eight machines sold in the quarter
  • 2012 revenue reached $28.7 million, up 87.6%
  • Expects revenue to expand approximately 65% to 80% in 2013

NORTH HUNTINGDON, Pa., March 27, 2013 (GLOBE NEWSWIRE) -- The ExOne Company (Nasdaq:XONE) ("ExOne" or "the Company"), a global provider of three-dimensional ("3D") printing machines and printed products to industrial customers, reported financial results today for its fourth quarter and full year 2012, which ended December 31, 2012.

Kent Rockwell, Chairman and Chief Executive Officer of ExOne commented, "We made solid progress in 2012. The recent technological advances of our 3D printing machines create persuasive economics for our industrial customers, who have demonstrated a growing interest in applying 3D printing in their manufacturing processes."

Revenue for the fourth quarter of 2012 was $12.7 million, up $10.0 million over 2011 fourth quarter. Net income of $0.9 million was improved over a net loss of $2.8 million for the same period in 2011. Included in the fourth quarter was a $1.5 million reduction in license fees.

For the full year of 2012 revenue was $28.7 million, up 87.6% from revenue of $15.3 million in 2011. Net loss in 2012 was $10.2 million, compared with a net loss of $8.0 million in 2011.

Revenue Growth Driven by Stronger Sales of 3D Printing Machines
 
  ($ in millions)        
  Three months ended December 31, Year ended December 31,
  2012 2011 2012 2011
Revenue by Product Line        
3D Printing Machine Sales $8.9 $0.2 $15.7 $5.4
3D Printed Parts, Materials and Other ("PSC") $3.8 $2.5 $13.0 $9.9
Total revenue $12.7 $2.7 $28.7 $15.3
 

During the fourth quarter of 2012, machine sales were $8.9 million. Eight machines were sold in the 2012 fourth quarter and thirteen in the full year, whereas one machine was sold in the prior-year's fourth quarter and five machines were sold in 2011. Higher sales were the result of customer demand for the Company's new machine models. Additionally, there has been an increasing trend of acceptance of additive manufacturing among global industrial manufacturers. Machine sales represented 70% of total sales in the 2012 fourth quarter. 

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