3-D Sys Corp Del Stock Price, News & Analysis

3D Systems has agreed to sell Cimatron Ltd. and related subsidiaries to Battery Ventures for $65 million as part of its reorganization strategy. This transaction focuses the company on enhancing its position in additive manufacturing. The sale is expected to finalize in Q4 2020, which will influence the company's equity offerings. 3D Systems aims to align its operations with core strengths to foster growth in evolving markets.

3D Systems (NYSE: DDD) will announce its third quarter 2020 financial results on November 5, 2020, after market close. A conference call to discuss the results is scheduled for November 6, 2020, at 10:00 a.m. ET. Investors can listen to the call via webcast or telephone. The press release includes forward-looking statements about potential risks and uncertainties that might affect future performance. 3D Systems has been a leader in 3D printing technology for over 30 years, providing innovative solutions across various sectors including healthcare and industrial markets.

3D Systems (NYSE: DDD) announced a reorganization strategy, establishing two business units: Healthcare Solutions and Industrial Solutions. Menno Ellis will lead the Healthcare Solutions Group, overseeing its Dental, Medical Device, and Simulation businesses. He brings extensive experience in growth strategies. Reji Puthenveetil will head the Industrial Solutions Group, focusing on sectors such as Aerospace, Defense, and Energy. This restructuring aims to bolster value creation in the additive manufacturing market, as emphasized by CEO Dr. Jeffrey Graves.

3D Systems announced FDA 510(k) clearance for its new maxillofacial surgical guides made from LaserForm Ti and DuraForm ProX PA materials, enhancing surgical performance. This clearance allows for innovative designs, improving strength and visibility in surgical sites. The VSP technology combines medical imaging with 3D printing, aiding over 120,000 unique patient cases. With these new guides, surgeons gain flexibility in design and sterilization processes, potentially improving patient outcomes in reconstructive surgeries.

3D Systems (NYSE: DDD) announced a significant advancement in additive manufacturing through its partnership with ACS Custom. Utilizing Figure 4 technology and Figure 4 PRO-BLK 10 material, ACS Custom transformed its digital workflow, achieving a 4X increase in capacity and a 2X boost in efficiency. Material consumption was reduced by 50%, and labor costs were lowered by 80% for specific parts. The Figure 4 solution delivers fast production speeds, enabling the creation of high-quality, custom hearing protection devices while enhancing product development cycles.

3D Systems announced the appointment of Jagtar Narula as Executive Vice President and CFO, effective September 14. Narula brings 28 years of financial leadership, previously serving at Blackbaud Corporation and holding positions at Xerox and GE. His expertise in investment strategy and M&A is expected to enhance capital deployment and drive growth. CEO Dr. Jeffrey Graves emphasized the importance of Narula's experience in leading technology companies during this pivotal transition and thanked interim CFO Wayne Pensky for facilitating the leadership change.

3D Systems Corporation (NYSE:DDD) reported Q2 2020 results, revealing a 28.7% decline in revenue at $112.1 million, down from $157.3 million in Q2 2019. The company recorded a GAAP loss of $0.33 per share, worse than the $0.21 loss in the prior year. To enhance profitability, 3D Systems is restructuring to cut $100 million in operating costs and reducing its workforce by 20%. The firm holds $63.9 million in cash, down $69.7 million since Dec 2019. The ongoing pandemic continues to impact operations significantly.

3D Systems (NYSE: DDD) is restructuring to focus on two key verticals: Healthcare and Industrial. This strategic shift aims to enhance the adoption of additive manufacturing in high-reliability applications. The company plans to reduce operating costs by $100 million annually, primarily through a workforce reduction of nearly 20%. The reorganization will incur a cash charge of $25 to $30 million. Additionally, the Board has approved an at-the-market equity program to raise up to $150 million to support this transformation amidst pandemic uncertainties.

3D Systems (NYSE: DDD) announced a conference call to discuss its Q2 2020 financial results on August 5, 2020, at 4:30 PM ET. The company will release these results and file its Form 10-Q after the market closes that same day. Investors can listen through a webcast or participate via telephone at 201-689-8345. A replay will be available approximately two hours after the call at the same link. Forward-looking statements are cautioned, emphasizing the uncertainty surrounding future results.