- Unprecedented Advanced Manufacturing and Consumer Demand
- Revised Full-Year Guidance to Accelerate Growth Rate and Investments
Gross profit increased 52% and gross profit margin expanded 80 basis points to 52.6%, contributing to GAAP net income of
For the nine months 2013, revenue grew 42% to
"We are very pleased to report another record revenue quarter on unprecedented printer units demand that more than tripled last year's unit sales," said
Third Quarter 2013 Revenue Highlights (compared to 2012 quarter):
• 3D printers and other products revenue increased 76% to
The company continued to increase its R&D and marketing expenditures, making investments in support of its near term opportunities and expanding product portfolio. For the third quarter in a row, the company expanded its manufacturing capacity to accommodate increasing demand for its products and services.
"We are accelerating developments of key products, channels and technologies to capture a broader share of upstream production applications and downstream consumer opportunities," continued Reichental."
To accelerate its growth rate, the company decided to further increase its R&D, marketing and retail field operations spending in connection with specific, near-term, new product introductions and retail channel expansion. Significant marketplace interest in its recently acquired, proprietary, Phenix direct metals 3D printers also compelled the company to accelerate new products development and capacity investments. As a result, the company updated its annual guidance for the full year 2013, increasing its revenue guidance to be in the range of