3D Systems Reports First Quarter 2016 Financial Results

 

3D Systems Corporation
Unaudited Condensed Consolidated Balance Sheets
March 31, 2016 and December 31, 2015
 
   
    March 31,   December 31,  
  (in thousands, except par value)   2016   2015  
ASSETS              
Current assets:              
Cash and cash equivalents    $   169,774     $   155,643    
Accounts receivable, net of reserves — $15,126 (2016) and $14,139 (2015)        134,793         157,406    
Inventories, net of reserves — $28,768 (2016) and $28,225 (2015)       113,953         105,877    
Prepaid expenses and other current assets        13,995         13,541    
Total current assets        432,515         432,467    
Property and equipment, net        92,300         85,995    
Intangible assets, net        151,366         157,466    
Goodwill        191,641         187,875    
Long term deferred income tax asset       3,299         3,216    
Other assets, net        25,593         26,256    
Total assets    $   896,714     $   893,275    
LIABILITIES AND EQUITY              
Current liabilities:              
Current portion of capitalized lease obligations    $   555     $   529    
Accounts payable        41,229         46,869    
Accrued and other liabilities        52,179         54,699    
Customer deposits        7,313         8,229    
Deferred revenue        46,709         35,145    
Total current liabilities        147,985         145,471    
Long term portion of capitalized lease obligations        8,090         8,187    
Long term deferred income tax liability        16,851         17,944    
Other liabilities        59,317         58,155    
Total liabilities        232,243         229,757    
Redeemable noncontrolling interests       8,872         8,872    
               
Stockholders’ equity:              
Common stock, $0.001 par value, authorized 220,000 shares; issued 113,140 (2016) and 113,115 (2015)       113         113    
Additional paid-in capital        1,291,405         1,279,738    
Treasury stock, at cost — 1,159 shares (2016) and 892 shares (2015)        (1,836 )       (1,026 )  
Accumulated deficit       (601,156 )       (583,368 )  
Accumulated other comprehensive loss       (31,729 )       (39,548 )  
Total 3D Systems Corporation stockholders' equity       656,797         655,909    
Noncontrolling interests       (1,198 )       (1,263 )  
Total stockholders’ equity        655,599         654,646    
Total liabilities, redeemable noncontrolling interests and stockholders’ equity   $   896,714     $   893,275    
               

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