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3D Systems(DDD) - 2020 Q3 - Earnings Call Transcript
2020-11-06 20:18
Financial Data and Key Metrics Changes - The company reported revenue of $135.1 million for Q3 2020, a decrease of 13% compared to Q3 2019, but an increase of 21% compared to Q2 2020, indicating a rebound in customer activity [20][21] - A loss of $0.61 per share was reported in Q3 2020, compared to a loss of $0.15 in Q3 2019, which included a $48.3 million pretax noncash goodwill impairment charge [20][21] - Non-GAAP loss was $0.03 per share in Q3 2020, compared to a loss of $0.04 per share in Q3 2019 [21][22] - Gross profit margin was reported at 43.4% in Q3 2020, slightly up from 43.3% in Q3 2019 [22] Business Line Data and Key Metrics Changes - Revenue from healthcare increased by 6.1% year-over-year to $59.8 million, driven by stronger sales in the dental market [22] - Industrial sales decreased by 23.8% year-over-year to $75.3 million, with declines across all products and services due to the pandemic [22] Market Data and Key Metrics Changes - The healthcare market showed a broad strengthening, with year-over-year growth of 6% to 7% noted, particularly in dental applications [42][43] - Industrial markets are recovering but remain down year-over-year, with a noted sequential improvement of over 20% in both healthcare and industrial segments [45] Company Strategy and Development Direction - The company is focusing on two key market verticals: healthcare and industrial, with a strategic purpose statement aimed at enabling additive manufacturing solutions [9][10] - A restructuring plan is in place to achieve $100 million in cost savings by the end of 2021, with $60 million expected by the end of 2020 [12][15] - The company has divested its Cimatron and GibbsCAM software businesses for $65 million, which are not core to its additive manufacturing focus [14][27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about rising demand as economies reopen, with expectations for continued strengthening of the business moving forward [8][29] - The company is adapting to changes in supply chains, particularly in healthcare, as hospitals seek more flexible production capabilities [16][62] Other Important Information - The company ended Q3 2020 with $75.3 million in cash and cash equivalents, down $58 million since the beginning of the year [24] - An ATM equity program was initiated, with $25 million of common stock issued in Q3, leaving $125 million available if needed [26][28] Q&A Session Summary Question: What drove the sizable increase in the materials segment relative to Q2? - Management noted that customers depleted inventories during the COVID shutdown and needed to replenish as production ramped up, leading to a strong rebound [34] Question: Do you expect ongoing improvement in the top line? - Management indicated that while the year is unpredictable, they continue to see strengthening in markets and expect some seasonality patterns to persist [36] Question: Can you provide visibility on which end markets may be improving? - Management highlighted a broad strengthening in the healthcare market, particularly in dental and orthopedic areas, while industrial markets are recovering from a lower base [42][45] Question: What is the financial profile of the Cimatron and GibbsCAM businesses? - The revenue for these businesses was around $35 million to $40 million, with declining rates, and direct costs associated with the business were estimated at $20 million to $25 million [57] Question: What are the expected impacts of the Cimatron divestiture on revenues? - The divestiture is expected to close in Q4, with minimal impact on revenues until 2021 [88]
3D Systems(DDD) - 2020 Q3 - Quarterly Report
2020-11-05 21:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________ 1 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________to____________ Commission File No. 001-34220 __________________________ 3D SYSTEMS CORPORATION (Exact name of Registrant as specifie ...
3D Systems(DDD) - 2020 Q2 - Earnings Call Transcript
2020-08-06 05:58
3D Systems Corporation (NYSE:DDD) Q2 2020 Earnings Conference Call August 5, 2020 4:30 PM ET Company Participants Jessica Stanfill – Investor Relations Jeffrey Graves – President and Chief Executive Officer Wayne Pensky – Interim Chief Financial Officer Conference Call Participants Danny Eggerichs – Craig-Hallum Capital Group Sarkis Sherbetchyan – B. Riley Financial Paul Coster – JP Morgan Brian Drab – William Blair Operator Greetings and welcome to the 3D Systems’ Q2 2020 Conference Call and Webcast. At ...
3D Systems(DDD) - 2020 Q2 - Quarterly Report
2020-08-05 20:13
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________to____________ Commission File No. 001-34220 __________________________ 3D SYSTEMS CORPORATION (Exact name of Registrant as specified in it ...
3D Systems(DDD) - 2020 Q1 - Earnings Call Transcript
2020-05-07 02:38
3D Systems Corporation (NYSE:DDD) Q1 2020 Earnings Conference Call May 6, 2020 4:30 PM ET Company Participants Melanie Solomon - Head of Investor Relations Vyomesh Joshi - President and Chief Executive Officer Todd Booth - Chief Financial Officer Conference Call Participants Greg Palm - Craig-Hallum Capital Group LLC Christopher Van Horn - B. Riley FBR, Inc. James Ricchiuti - Needham & Company Ananda Baruah - Loop Capital Markets LLC Brian Drab - William Blair & Company Wamsi Mohan - Bank of America Merrill ...
3D Systems(DDD) - 2020 Q1 - Quarterly Report
2020-05-06 20:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________to____________ Commission File No. 001-34220 __________________________ 3D SYSTEMS CORPORATION (Exact name of Registrant as specified in i ...
3D Systems(DDD) - 2019 Q4 - Earnings Call Transcript
2020-02-27 02:08
3D Systems Corporation (NYSE:DDD) Q4 2019 Earnings Conference Call February 26, 2020 4:30 PM ET Company Participants Melanie Solomon - Investor Relations Vyomesh Joshi - President & Chief Executive Officer Todd Booth - Executive Vice President & Chief Financial Officer Andrew Johnson - Executive Vice President & Chief Legal Officer Conference Call Participants Greg Palm - Craig-Hallum Capital Group Jim Ricchiuti - Needham & Company Brian Drab - William Blair Ananda Baruah - Loop Capital Troy Jensen - Piper ...