ExOne: 2017 second quarter results impacted by timing
The global provider of 3D printing machines and other products, materials and services to industrial customers, reported revenue of $10.8 million. The company realized 22% growth in machine revenue over the same period in 2016.
However, the 8% decline observed on the total revenue compared to the prior-year period is due to timing.
“Timing impacted our $10.8 million reported revenue for the second quarter, as $2.8 million of revenue carried over into the third quarter by one day. However, our 2017 first half realized 22% growth in machine revenue over the same period in 2016. We believe we are on track to achieve full year consolidated revenue growth in the range of 20% to 25%, considering the exclusion of certain revenue associated with our exited facility,” stated Jim McCarley, ExOne‘s Chief Executive Officer.
With regards to long sales cycle and the machine’s average selling price relative to total revenue, notice is to be made that fluctuations vary from one term to another.
The company will revise 2017 revenue expectations to 20% – 25% growth; thus restating expectation for positive Adjusted EBITDA by the end of the year.
As for the advancement of technologies, Jim McCarley declares, “our operating results for the quarter include investments we are making in our technology, people, and processes to continue the advancement of binder jet technology in the marketplace. Based on our continuing progress, we expect these efforts will significantly improve our future financial performance. We remain confident in our strategic direction and in our pipeline of projects with both new and repeat customers.“
The full results could be read here.
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