3D Systems Reports First Quarter 2018 Financial Results

(a) The amounts for cash and cash equivalents shown above include restricted cash of $489 and $318 as of March 31, 2018 and 2017, respectively, and $487 and $301 as of December 31, 2017, and 2016, respectively, which were included in other assets, net in the condensed consolidated balance sheets.

 
3D Systems Corporation
Schedule 1
Loss Per Share
Quarter Ended March 31, 2018 and 2017
  
  Quarter Ended March 31,
(in thousands, except per share amounts) 2018  2017
Numerator for basic and diluted net loss per share:   
Net loss attributable to 3D Systems Corporation$(20,961) $(9,971)
    
Denominator for basic and diluted net loss per share:   
Weighted average shares111,819  111,289 
    
Net loss per share - basic and diluted$(0.19) $(0.09)


3D Systems Corporation
Schedule 2
Unaudited Reconciliations of GAAP to Non-GAAP Measures
Quarter Ended March 31, 2018 and 2017
  
  Quarter Ended March 31,
(in millions, except per share amounts) 2018  2017
GAAP net loss attributable to 3D Systems Corporation$(21.0) $(10.0)
Adjustments:   
Amortization, stock-based compensation & other 115.2  16.0 
Legal and acquisition-related 20.5  1.1 
Cost optimization plan 30.5   
Impairment of cost-method investments 41.4   
Non-GAAP net income (loss) attributable to 3D Systems Corporation$(3.4) $7.1 
Non-GAAP net income (loss) per share available to 3D Systems common stock holders - basic and diluted 5$(0.03) $0.06 
    
1 For the quarter ended March 31, 2018, the adjustment included $0.1 in COGS and $15.1 in SG&A. For the quarter ended March 31, 2017, the adjustment included $0.1 in COGS and $15.9 in SG&A.
2 For the quarter ended March 31, 2018, the adjustment included $0.5 in SG&A. For the quarter ended March 31, 2017, the adjustment included $1.1 million in SG&A.
3 For the quarter ended March 31, 2018, the adjustment included $0.2 in COGS, $0.3 in SG&A, and approximately $32 thousand in R&D.
4 The Company has minority investments of less than 20% ownership in enterprises that benefit from, or are powered by its technology portfolio. The value of each of these investments is assessed periodically, and impairment recorded when required. For the quarter ended March 31, 2018, the adjustment included $1.4 in interest and other expense, net. The Company excluded this amount as it is not related to on-going operations, and intends to exclude these impairment amounts from non-GAAP net income going forward.
5 Denominator based on weighted average shares used in the GAAP EPS calculation.

 

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