AM specialist 3D Systems has reported a 2016 revenue decrease of 5% to US$633.0 million compared to U$666.2 million in 2015, which included approximately U$20 million of revenue from consumer products that the company discontinued at the end of 2015.
For the fourth quarter of 2016, the company reported revenue of US$165.9 million compared to US$183.4 million in the fourth quarter of the previous year. ‘Demand from industrial customers combined with growth in software and healthcare services were not enough to offset the impact of weaker sales of professional printers and on-demand services, resulting in a 10% decrease in revenue in the fourth quarter of 2016 compared to the fourth quarter of 2015,’ the company said in a press release.
Improved profitability
‘We are seeing clear progress in our initiatives to drive operational excellence and establish an appropriate cost structure,’ said John McMullen, executive vice president and chief financial officer. ‘We still have a lot of work to do, but we are making improvements in our key processes, infrastructure and operations. We expect continued positive cash generation and improved profitability while we make investments in IT, go to market and innovation.’
For the full year 2017, management expects revenue growth of 2% to 8% resulting in a revenue range of $643 million to $684 million.
This story uses material from 3D Systems, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.