Tax Change Raises 3D Systems’ Profit

3D Systems Corp., a Valencia producer of computer-based systems that generate models of engineered parts, said it has revised its 1994 earnings to $4.5 million because of fourth-quarter tax accounting changes.

The company had earlier reported net income of $3 million for the year ended Dec. 31, compared to earnings of $530,717 a year earlier. The difference between the original and new figures resulted solely from deferred tax assets related to tax-loss carryforwards, according to Gordon L. Almquist, the company’s chief financial officer.

The tax benefit also boosted 3D Systems’ earnings for the fourth quarter to $2.4 million, a 60% increase from $1.5 million in the same period the year before. Before making the accounting change, the company had reported fourth-quarter earnings of $950,549.