Metal injection molding (MIM) and 3D printing company ARC Group Worldwide has reported Q3 2017 revenue of US$25.5 million, compared to US$24.9 for the fiscal third quarter of 2016. The growth in sales was primarily driven by higher MIM sales across multiple industries, the company said.
Gross profit for the period was US$3.1 million compared to US$5.0 million for the prior year period, due to the increased development expenses associated with the ramping up of production for significant new products in the firearms and defense industry, which resulted in increased staffing levels and associated labor costs, along with higher scrap, according to Arc Group.
‘During the quarter, an industry slowdown among our customers in the firearms and defense sector partially offset new product growth,’ said Jason Young, CEO. ‘However, we have significant momentum in sales […] our metal 3D printing momentum continues with the recent launch of a significant new production program, one of the first of its kind in the sector. Our metal 3D printing business is quickly becoming one of the largest and most technically complex providers in the country.’
This story is reprinted from material from Arc Group, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.