3D Systems Reports Third Quarter 2019 Financial Results

(a) For comparative purposes, prior year finance lease assets have been reclassified from "Property and equipment, net" to "Right of use assets". Prior year finance lease liabilities have been reclassified as right of use liabilities.

3D Systems Corporation
Unaudited Condensed Consolidated Statements of Operations
Quarter and Nine Months Ended September 30, 2019 and 2018

  Quarter Ended September 30,  Nine Months Ended September 30,
(in thousands, except per share amounts) 2019  2018  2019  2018
Revenue:       
Products$94,506 $99,922 $280,611 $316,153
Services60,766 64,589 183,913 190,795
Total revenue155,272 164,511 464,524 506,948
Cost of sales:       
Products58,044 54,444 166,809 168,062
Services29,947 32,257 91,430 97,045
Total cost of sales87,991 86,701 258,239 265,107
Gross profit67,281 77,810 206,285 241,841
Operating expenses:       
Selling, general and administrative58,275 65,600  195,036   206,225
Research and development 20,940   23,194   63,654   71,788
Total operating expenses 79,215   88,794   258,690   278,013
Loss from operations (11,934)   (10,984)   (52,405)   (36,172)
Interest and other (expense) income, net (2,818)   1,027   (6,774)   1,135
Loss before income taxes (14,752)   (9,957)   (59,179)   (35,037)
Provision for income taxes (2,010)   (1,593)   (5,793)   (6,086)
Net loss (16,762)   (11,550)   (64,972)   (41,123)
Less: net income attributable to noncontrolling interests 81     195   246
Net loss attributable to 3D Systems Corporation $ (16,843)   $ (11,550)   $ (65,167)   $ (41,369)
               
Net loss per share available to 3D Systems Corporation common stockholders - basic and diluted $ (0.15   $ (0.10)   $ (0.57)   $ (0.37)

3D Systems Corporation

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