3D Systems Reports Second Quarter 2017 Financial Results

 

3D Systems Corporation

Schedule 1

Earnings (Loss) Per Share

Quarter and Six Months Ended June 30, 2017 and 2016


















































Quarter Ended June 30,


Six Months Ended June 30,

(in thousands, except per share amounts)

2017


2016


2017


2016

Numerator for basic and diluted net loss per share:












Net loss attributable to 3D Systems Corporation

$

(8,416)


$

(4,684)


$

(18,387)


$

(22,436)













Denominator for basic and diluted net loss per share:












Weighted average shares


111,398



111,166



111,350



111,288













Net loss per share, basic and diluted

$

(0.08)


$

(0.04)


$

(0.17)


$

(0.20)

 

3D Systems Corporation

Schedule 2

Unaudited Reconciliations of GAAP to Non-GAAP Measures

Quarter and Six Months Ended June 30, 2017 and 2016

















































($ in millions, except per share amounts)

Quarter Ended June 30,



Six Months Ended June 30, 

2017


2016


2017


2016

GAAP Net loss attributable to 3D Systems Corporation

$

(8.4)


$

(4.6)


$

(18.4)


$

(22.4)

Adjustments:












Amortization, stock-based compensation & other 1


16.3



16.1



32.3



36.6

Legal and acquisiton-related 2


0.7



1.8



1.7



2.7

Portfolio restructuring 3


-



-



-



-

Tax effect of adjustments 3


-



-


-


1.5

Non-GAAP net income attributable to 3D Systems Corporation

$

8.6


$

13.2


$

15.6


$

18.4

Non-GAAP net income per share available to 3D Systems
common stock holders - basic and diluted 4

$

0.08


$

0.12


$

0.14


$

0.17













1 For the quarter ended June 30, 2017, the adjustment included $0.1 in COGS and $16.2 in SG&A. For the quarter ended June 30, 2016, the adjustment included $0.1 in COGS and $16.0 SG&A.  For the six months ended June 30, 2017, the adjustment included $0.2 in COGS and $32.1 in SG&A. For the six months ended June 30, 2016, the adjustment included $0.2 in COGS and $36.4 in SG&A.


2 For the quarter ended June 30, 2017, the adjustment included $0.5 in SG&A and $0.2 in interest and other income, net. For the quarter ended June 30, 2016 the adjustment included included $1.8 in SG&A.  For the six months ended June 30, 2017, the adjustment included $1.5 in SG&A and $0.2 in interest and other income, net. For the six months ended June 30, 2016 the adjustment included $2.7 in SG&A.


3 Tax effect for the quarter ended March 31, 2016 was calculated quarterly based on the Company's overall tax rate. Tax effect for the quarters ended after March 31, 2016 were calculated based on the Company's quarterly U.S. tax rate of 0%, which is due to valuation allowances in connection with GAAP net losses.


4 Denominator based on diluted shares used in the GAAP EPS calculation.


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