Machine revenue grew 13% to $9.7 million in the third quarter of 2018. Fifteen machines were sold in the 2018 third quarter, compared with twelve in the 2017 third quarter. The mix of machine type impacted the revenue comparison.
Non-machine revenue (3D printed and other products, materials and services) was down 6% to $6.9 million in the third quarter of 2018, compared with the prior year. The decrease was primarily due to a lower volume of printing projects at the Company’s indirect service centers, partially offset by an increase in consumable material and service revenue based on a higher global installed base of ExOne’s 3D printing machines.
Consolidated revenue for the 2018 year-to-date period grew 5% over the prior-year period. Machine revenue was up 2% to $17.4 million in the 2018 nine-month period. Non-machine revenue grew 7% year-to-date, to $21.9 million.
Given the long sales cycle and significance of a machine’s average selling price relative to total revenue, fluctuations in machine-sale revenue vary from quarter to quarter. ExOne does not believe that such quarter-to-quarter fluctuations are necessarily indicative of larger trends.
Third Quarter Operations – Significant Benefits from Global Cost Realignment Initiative
| ($ in millions, except per-share amounts) | Q3 2018 | Q3 2017 | Change | % Change | ||||||||||||||
| Gross profit | $ | 6.6 | $ | 4.1 | $ | 2.5 | 60 | % | ||||||||||
| Gross margin | 39.6 | % | 25.8 | % | ||||||||||||||
| Operating loss | $ | (1.1 | ) | $ | (4.8 | ) | $ | 3.7 | 78 | % | ||||||||
| Net loss | $ | (0.3 | ) | $ | (4.9 | ) | $ | 4.6 | 93 | % | ||||||||
| Diluted EPS | $ | (0.02 | ) | $ | (0.30 | ) | $ | 0.28 | 93 | % | ||||||||
