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3D Systems Revenue Declines on Divestitures

By SME Media Staff

3D Systems said on Feb. 28 its fourth-quarter revenue fell on divestitures of “non-core” assets.

The Rock Hill, S.C.-based additive manufacturer said its quarterly revenue totaled $150.9 million, down from $172.7 million in 2020’s final quarter.

The company said its quarterly loss narrowed to $6.2 million, or 5 cents a share, down from $19.8 million, or 16 cents, a year earlier.

For all of 2021, 3D Systems said revenue rose 11 percent to $615.6 million from $557.2 million the year before. The company’s 2021 profit increased to $322.1 million, or $2.55 a share, from a year-earlier loss of $149.6 million, or $1.27.

“2021 was a remarkable year for 3D Systems,” CEO Jeffrey Graves said in a statement. “In the face of a difficult operating environment, we executed well against our four-phased strategy that we introduced in the summer of 2020.”

The executive said, We exited 2021 as one of the largest and the most profitable pure-play additive manufacturing companies in the world, entering 2022 with great momentum, an extremely strong balance sheet, and focused on investing for the exciting growth we see ahead,” the executive said.

In February, 3D Systems announced it had agreed to acquire Kumovis, a Munich, Germany-based additive manufacturing solutions provider for personalized healthcare applications and Titan Additive LLC, a Colorado-based designer and fabricator of large-format, industrial 3D printers. 

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