3D Systems Reports Fourth Quarter and Full Year 2015 Financial Results
|
3D Systems Corporation |
|
Schedule 1 |
|
Earnings (Loss) Per Share |
|
Year Ended December 31, 2015 and 2014 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Quarter Ended December 31,
|
|
Year Ended December 31,
|
|
|
(in thousands, except per share amounts) |
2015 |
|
2014 |
|
2015 |
|
2014 |
|
| Numerator for basic and diluted net earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) attributable to 3D Systems Corporation |
$ |
|
(596,366 |
) |
|
$ |
1,551 |
|
$ |
|
(655,492 |
) |
|
$ |
11,637 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Denominator for basic and diluted net earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average shares |
|
|
112,115 |
|
|
|
111,287 |
|
|
|
111,969 |
|
|
|
108,023 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Earnings (loss) per share, basic and diluted |
$ |
|
(5.32 |
) |
|
$ |
0.01 |
|
$ |
|
(5.85 |
) |
|
$ |
0.11 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Restricted stock units excluded from diluted earnings per share calculation(a) |
|
|
88 |
|
|
|
— |
|
|
|
270 |
|
|
|
— |
|
| |
|
|
|
|
|
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|
|
|
|
|
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| (a) Average outstanding diluted earnings (loss) per share calculation excludes restricted stock units since the effect of their inclusion would have been anti-dilutive. |
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|
3D Systems Corporation |
|
Schedule 2 |
|
Unaudited Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income |
|
Quarter and Year Ended December 31, 2015 and 2014 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Quarter Ended December 31,
|
|
|
Year Ended December 31,
|
|
(in thousands, except per share amounts) |
|
2015 |
|
2014 |
|
|
2015 |
|
2014 |
| GAAP net income (loss) attributable to 3D Systems Corporation |
$ |
|
(596,366 |
) |
|
|
$ |
|
1,551 |
|
|
|
$ |
|
(655,492 |
) |
|
|
$ |
|
11,637 |
|
| Cost of sales adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of intangibles |
|
|
|
71 |
|
|
|
|
|
72 |
|
|
|
|
|
303 |
|
|
|
|
|
281 |
|
| Charges related to shift away from consumer products and services — cash |
|
|
|
8,771 |
|
|
|
|
— |
|
|
|
|
8,771 |
|
|
|
|
— |
| Charges related to shift away from consumer products and services — non-cash |
|
|
|
18,619 |
|
|
|
|
— |
|
|
|
|
18,619 |
|
|
|
|
— |
| Operating expense adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of intangibles |
|
|
|
13,155 |
|
|
|
|
|
10,892 |
|
|
|
|
|
60,763 |
|
|
|
|
|
39,193 |
|
| Acquisition and severance expenses |
|
|
|
3,409 |
|
|
|
|
|
3,158 |
|
|
|
|
|
9,274 |
|
|
|
|
|
7,994 |
|
| Impairment of goodwill and other intangible assets |
|
|
537,179 |
|
|
|
|
— |
|
|
|
|
537,179 |
|
|
|
|
— |
| Non-cash stock-based compensation expense |
|
|
|
5,883 |
|
|
|
|
|
9,055 |
|
|
|
|
|
34,733 |
|
|
|
|
|
32,793 |
|
| Arbitration award |
|
|
— |
|
|
|
— |
|
|
|
|
11,282 |
|
|
|
|
— |
| Interest and other expense adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-cash interest expense |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
225 |
|
| Loss on convertible notes |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
1,806 |
|
| Tax effect (a) |
|
|
|
30,160 |
|
|
|
|
|
(971 |
) |
|
|
|
|
4,578 |
|
|
|
|
|
(18,810 |
) |
| Non-GAAP net income |
|
$ |
|
20,881 |
|
|
|
$ |
|
23,757 |
|
|
|
$ |
|
30,010 |
|
|
|
$ |
|
75,119 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-GAAP basic and diluted earnings per share |
|
$ |
|
0.19 |
|
|
|
$ |
|
0.21 |
|
|
|
$ |
|
0.27 |
|
|
|
$ |
|
0.70 |
|
| (a) tax effect is calculated quarterly, based on the actual tax rate for each quarter. |
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