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TheStreet Open House

The ExOne Company Reports Strong Revenue Growth In First Quarter 2013

Stocks in this article: XONE

  • Revenue increased by $5.2 million to $7.9 million
  • Gross margin improved from 30.0% to 35.8%
  • Strong balance sheet with $71.1 million in cash supports growth plans
  • Company reaffirms full year guidance

NORTH HUNTINGDON, Pa., May 14, 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 2013 first quarter, which ended March 31, 2013.

Revenue for the first quarter of 2013 was $7.9 million compared with revenue of $2.7 million for the first quarter of 2012, an increase of $5.2 million. Net loss attributable to ExOne for the first quarter of 2013 was $1.9 million compared with a net loss attributable to ExOne of $1.5 million for the first quarter of 2012, an increase of $0.4 million. Increased net loss was primarily the result of higher operating expenses which were partially offset by improved gross profit.

Revenue Growth Driven by Stronger Sales of 3D Printing and Laser Machines ($ in millions)  

  For the Quarter Ended March 31,
  2013 2012
Revenue by Product Line      
3D Printing and Laser Machines  $ 4.2 53.2%  $ --  0.0%
3D Printed Parts, Materials and Other ("PSC")  $ 3.7 46.8%  $ 2.7 100.0%
Total Revenue  $ 7.9 100.0%  $ 2.7 100.0%

During the first quarter of 2013, machine revenue was approximately $4.2 million.  Five machines were sold in the 2013 first quarter consisting of four 3D printing machines and one laser machine, whereas no machines were sold in the prior-year first quarter. Higher revenue was the result of increasing customer demand for the Company's machine technology. Additionally, there has been increasing interest of additive manufacturing among global industrial manufacturers.  Machine revenue represented 53% of total revenue in the 2013 first quarter. 

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