3D Systems Corporation · NYSE:DDD
3D Systems — Q1 2012 Earnings Presentation
21 slides from 3D Systems's earnings presentation, Apr 25, 2012
Slide 1: Conference Call and Webcast First Quarter 2012
Conference Call and Webcast First Quarter 2012 2012年4月25日
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements, as defined by federal and state securities laws. Forward-looking statements include statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, perfor
Slide 3: Presenters
Presenters Stacey Witten • Investor Relations Manager Abe Reichental • President & Chief Executive Officer • Senior Vice President & Chief Damon Gregoire Financial Officer Bob Grace • Vice President & General Counsel 3 3
Slide 4: Welcome Webcast Viewers
Welcome Webcast Viewers • 1-866-271-5140 in the To listen to the conference United States via phone and to ask • 1-617-213-8893 from questions during our Q&A outside the United States session, please dial: • Participant Code: 13970710 4 4
Slide 5: Operating Results
Operating Results Abe Reichental, President & CEO 5 2012年4月25日
Slide 6: First Quarter 2012 Highlights
First Quarter 2012 Highlights Extended revenue and printer units leadership position on record quarterly results Revenue increased 63% over the 2011 quarter, driven by 26% organic growth across all categories Gross profit margin expanded to 50% on 153% unit growth and 58% materials revenue growth, g
Slide 7: Record First Quarter Revenue
Record First Quarter Revenue $ in millions First Quarter Printers & 2011 $ 13.5 Other Products 2012 83% $ 24.7 Print 2011 $ 15.6 Materials 2012 $ 24.7 58% 2011 $ 18.8 Services 2012 $ 28.5 52% 2011 $ 6.2 Healthcare 93% 2012 $ 12.0 63% total revenue growth 26% organic revenue growth 7 7
Slide 8: Solid Performance
Solid Performance Non-GAAP Q1 Comparison Units Performance 2012 Vs. 2011 % Drivers Change Revenue 63% 2010 2011 2012 $ in thousands Printer units 153% 90,000 80,000 Gross profit 67% 70,000 Revenue Net income 62% 60,000 50,000 Net income per 12% 40,000 employee Gross Profit 30,000 EPS 47% 20,000 Net
Slide 9: New Products Fuel Organic Growth & Earnings
New Products Fuel Organic Growth & Earnings Commercialized 2 new products during Q1 2012 Q1 `12 Gross Profit by Category $ in millions New Products Revenue $30.0 Printers $25.0 & Other Services Products $20.0 32% 25% $15.0 $10.0 $23.9 Print $15.6 Materials $5.0 $9.0 43% $0.0 2010 2011 2012 Q1 2012 R
Slide 10: Financial Review
Financial Review Damon Gregoire, Senior Vice President and CFO 2012年4月25日
Slide 11: First Quarter Operating Results
First Quarter Operating Results $ in millions, except earnings per share First Quarter – Non-GAAP % Change Drivers 2011 2012 Favorable/(Unfavorable) Revenue $ 47.9 $ 77.9 63% Gross Profit $ 23.2 $ 38.9 67% % of Revenue 49% 50% Operating Expenses $ 14.5 $ 21.9 (51%) % of Revenue 30% 28% Net Income $
Slide 12: Non-GAAP Reconciliation
Non-GAAP Reconciliation Quarter Ended March 31, (in thousands, except per share amounts) 2011 2012 GAAP Net Income $ 6,822 $ 6,188 Adjustments (tax effected): Stock-based compensation $ 387 $ 1,035 Amortization of intangibles (a) $ 841 $ 3,009 Acquisition and severance expense $ 99 $ 2,102 Non-cash
Slide 13: Revenue by Category and Geography
Revenue by Category and Geography $ in millions Category Geography $ 77.9 80 $ 77.9 80 14% 36% Asia-Pacific 60 60 27% $ 47.9 Services $ 47.9 14% 40 39% 40 Europe 32% Materials 38% 33% 59% 20 20 North Printers 32% 48% America 28% 0 0 2011 2012 2011 2012 Recurring revenue made up 68% of total revenue
Slide 14: First Quarter Gross Profit Margin
First Quarter Gross Profit Margin $ in millions First Quarter 2011 2012 Yr-Yr% Gross Profit Gross Profit Category $ Margin $ Margin $ Margin Printers & other products $ 5.5 41% $ 9.6 39% 74% (5%) Print materials $ 9.9 63% $ 16.8 68% 69% 7% Services $ 7.8 42% $ 12.5 44% 60% 5% Total $ 23.2 48% $ 38.9
Slide 15: Working Capital
Working Capital % Change 2011 2012 Favorable/(Unfavorable) ($ in millions) Cash $ 179.1 $ 60.0 (66%) Inventory $ 25.3 $ 34.9 (38%) Accounts Receivable $ 51.2 $ 61.1 19% Accounts Payable $ 25.9 $ 33.1 (28%) Working Capital $ 202.4 $ 89.0 (56%) • Cash on hand at March 31, 2012 included $15.8 million g
Slide 16: Affirming 2012 Guidance
Affirming 2012 Guidance We expect revenue for full year 2012 to be in the range of $330 million to $360 million We expect non-GAAP earnings per share for 2012 to be in the range of $1.00 to $1.25 16 16
Slide 17: Outlook and Progress
Outlook and Progress Abe Reichental, President and CEO 2012年4月25日
Slide 18: Recent Developments
Recent Developments We acquired Z Corp and Vidar, creating an unmatched product portfolio and formidable channel We completed all organizational, financial and operational integration required to deliver customer value and identified synergies We announced the first consumer printer, the Cube™ perso
Slide 19: Outlook
Outlook We entered the second quarter of 2012 with positive sales momentum that is augmented by over $9.6 million of backlog We deliver an unmatched blend of professional and consumer products and services through unparalleled field-deployed and on-line channels We believe that the marketplace for o
Slide 20: Q&A Session
Q&A Session Out of respect for other conference call participants, please ask one question and then return to the queue to ask additional questions Please direct all questions through the teleconference portion of this call • U.S.: 1-866-271-5140 To ask questions: • International: 1-617-213-8893 • C
Slide 21: Thank You
Thank You www.3dsystems.com NYSE: DDD 2012年4月25日