3D Systems Corporation | |||||||||||||||
Schedule 1 | |||||||||||||||
Earnings (Loss) Per Share | |||||||||||||||
Quarter and Full Year Ended December 31, 2016 and 2015 | |||||||||||||||
Quarter Ended December 31, | Full Year Ended December 31, | ||||||||||||||
(in thousands, except per share amounts) | 2016 | 2015 | 2016 | 2015 | |||||||||||
Numerator for basic and diluted net loss per share: | |||||||||||||||
Net income (loss) attributable to 3D Systems Corporation | $ | 5,230 | $ | (596,366 | ) | $ | (38,419 | ) | $ | (655,492 | ) | ||||
Denominator for basic and diluted net loss per share: | |||||||||||||||
Weighted average shares | 111,174 | 112,115 | 111,189 | 111,969 | |||||||||||
Net income (loss) per share, basic and diluted | $ | 0.05 | $ | (5.32 | ) | $ | (0.35 | ) | $ | (5.85 | ) | ||||
3D Systems Corporation | |||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Unaudited Reconciliations of GAAP to Non-GAAP Measures | |||||||||||||||||||||||||||||||||||||||||||||||||||
Quarter and Full Year Ended December 31, 2016 and 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Quarter Ended December 31, 2016 | Quarter Ended December 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands, except per share amounts)
|
GAAP |
Amortization,
Stock-Based Compensation & Other |
Legal and Acquisition-Related | Portfolio Restructuring | Non-GAAP | GAAP |
Amortization,
Stock-Based Compensation & Other |
Legal and Acquisition-Related | Portfolio Restructuring | Non-GAAP | |||||||||||||||||||||||||||||||||||||||||
Revenue | $ | 165,937 | $ | — | $ | — | $ | — | $ | 165,937 | $ | 183,363 | $ | — | $ | — | $ | — | $ | 183,363 | |||||||||||||||||||||||||||||||
Cost of sales | 83,047 | (85 | ) | — | — | 82,962 | 123,203 | (71 | ) | — | (27,390 | ) | 95,742 | ||||||||||||||||||||||||||||||||||||||
Gross profit | 82,890 | 85 | — | — | 82,975 | 60,160 | 71 | — | 27,390 | 87,621 | |||||||||||||||||||||||||||||||||||||||||
Gross profit margin | 50.0 | % | 50.0 | % | 32.8 | % | 47.7 | % | |||||||||||||||||||||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||||
Selling, general and administrative | 57,767 | (11,394 | ) | (1,249 | ) | — | 45,124 | 66,542 | (19,038 | ) | (3,409 | ) | — | 44,095 | |||||||||||||||||||||||||||||||||||||
Research and development | 21,050 | — | — | — | 21,050 | 22,360 | — | — | — | 22,360 | |||||||||||||||||||||||||||||||||||||||||
Impairment of goodwill and other intangible assets | — | — | — | — | — | 537,179 | (537,179 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Total operating expenses | 78,817 | (11,394 | ) | (1,249 | ) | — | 66,174 | 626,081 | (19,038 | ) | (540,588 | ) | — | 66,455 | |||||||||||||||||||||||||||||||||||||
Income (loss) from operations | 4,073 | 11,479 | 1,249 | — | 16,801 | (565,921 | ) | 19,109 | 540,588 | 27,390 | 21,166 | ||||||||||||||||||||||||||||||||||||||||
Interest and other expense, net | 102 | — | — | — | 102 | 9,000 | — | — | — | 9,000 | |||||||||||||||||||||||||||||||||||||||||
Income (loss) before income taxes | 3,971 | 11,479 | 1,249 | — | 16,699 | (574,921 | ) | 19,109 | 540,588 | 27,390 | 12,166 | ||||||||||||||||||||||||||||||||||||||||
Provision (benefit) for income taxes (a) | (1,212 | ) | 1,245 | — | — | 33 | 29,535 | (982 | ) | (27,771 | ) | (1,408 | ) | (626 | ) | ||||||||||||||||||||||||||||||||||||
Net income (loss) | 5,183 | 10,234 | 1,249 | — | 16,666 | (604,456 | ) | 20,091 | 568,359 | 28,798 | 12,792 | ||||||||||||||||||||||||||||||||||||||||
Less: net income (loss) attributable to noncontrolling interests | (47 | ) | — | — | — | (47 | ) | (8,090 | ) | — | — | — | (8,090 | ) | |||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to 3D Systems Corporation | $ | 5,230 | $ | 10,234 | $ | 1,249 | $ | — | $ | 16,713 | $ | (596,366 | ) | $ | 20,091 | $ | 568,359 | $ | 28,798 | $ | 20,882 | ||||||||||||||||||||||||||||||
Net income (loss) per share available to 3D Systems Corporation common stockholders — basic and diluted | $ | 0.05 | $ | 0.15 | $ | (5.32 | ) | $ | 0.19 | ||||||||||||||||||||||||||||||||||||||||||
Full Year Ended December 31, 2016 | Full Year Ended December 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands, except per share amounts)
|
GAAP |
Amortization,
Stock-Based Compensation & Other |
Legal and Acquisition-Related | Portfolio Restructuring | Non-GAAP | GAAP |
Amortization,
Stock-Based Compensation & Other |
Legal and Acquisition-Related | Portfolio Restructuring | Non-GAAP | |||||||||||||||||||||||||||||||||||||||||
Revenue | $ | 632,965 | $ | — | $ | — | $ | — | $ | 632,965 | $ | 666,163 | $ | — | $ | — | $ | — | $ | 666,163 | |||||||||||||||||||||||||||||||
Cost of sales | 323,214 | (332 | ) | — | (10,723 | ) | 312,159 | 374,354 | (303 | ) | — | (27,390 | ) | 346,661 | |||||||||||||||||||||||||||||||||||||
Gross profit | 309,751 | 332 | — | 10,723 | 320,806 | 291,809 | 303 | — | 27,390 | 319,502 | |||||||||||||||||||||||||||||||||||||||||
Gross profit margin
|
48.9 | % | 50.7 | % | 43.8 | % | 48.0 | % | |||||||||||||||||||||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||||
Selling, general and administrative | 259,776 | (66,087 | ) | (5,741 | ) | (34 | ) | 187,914 | 303,784 | (95,496 | ) | (20,556 | ) | — | 187,732 | ||||||||||||||||||||||||||||||||||||
Research and development | 88,395 | — | — | (6,072 | ) | 82,323 | 92,770 | — | — | — | 92,770 | ||||||||||||||||||||||||||||||||||||||||
Impairment of goodwill and other intangible assets | — | — | — | — | — | 537,179 | — | (537,179 | ) | — | — | ||||||||||||||||||||||||||||||||||||||||
Total operating expenses | 348,171 | (66,087 | ) | (5,741 | ) | (6,106 | ) | 270,237 | 933,733 | (95,496 | ) | (557,735 | ) | — | 280,502 | ||||||||||||||||||||||||||||||||||||
Income (loss) from operations | (38,420 | ) | 66,419 | 5,741 | 16,829 | 50,569 | (641,924 | ) | 95,799 | 557,735 | 27,390 | 39,000 | |||||||||||||||||||||||||||||||||||||||
Interest and other expense, net | 1,392 | — | — | — | 1,392 | 13,029 | — | — | — | 13,029 | |||||||||||||||||||||||||||||||||||||||||
Income (loss) before income taxes | (39,812 | ) | 66,419 | 5,741 | 16,829 | 49,177 | (654,953 | ) | 95,799 | 557,735 | 27,390 | 25,971 | |||||||||||||||||||||||||||||||||||||||
Provision (benefit) for income taxes (a) | (547 | ) | (207 | ) | (67 | ) | — | (821 | ) | 8,972 | 21,493 | (24,663 | ) | (1,408 | ) | 4,394 | |||||||||||||||||||||||||||||||||||
Net income (loss) | (39,265 | ) | 66,626 | 5,808 | 16,829 | 49,998 | (663,925 | ) | 74,306 | 582,398 | 28,798 | 21,577 | |||||||||||||||||||||||||||||||||||||||
Less: net income (loss) attributable to noncontrolling interests | (846 | ) | — | — | — | (846 | ) | (8,433 | ) | — | — | — | (8,433 | ) | |||||||||||||||||||||||||||||||||||||
Net income (loss) attributable to 3D Systems Corporation | $ | (38,419 | ) | $ | 66,626 | $ | 5,808 | $ | 16,829 | $ | 50,844 | $ | (655,492 | ) | $ | 74,306 | $ | 582,398 | $ | 28,798 | $ | 30,010 | |||||||||||||||||||||||||||||
Net income (loss) per share available to 3D Systems Corporation common stockholders — basic and diluted | $ | (0.35 | ) | $ | 0.46 | $ | (5.85 | ) | $ | 0.27 |