3-D Systems Reports Net Loss of $280 Million
3-D Systems Corp., the Valencia-based company whose products are used to make three-dimensional models based on computer-generated designs, reported a net loss of $280 million in its second quarter, compared to a net income of $801 million a year ago.
Revenues for the quarter that ended June 27 rose 17% to $21.80 million, from $18.56 million a year earlier. Arthur B. Sims, chairman and CEO of the Valencia-based company, said the quarter’s results were affected by continued sluggish U.S. sales, foreign currency adjustments and a $500,000 severance expense.
For the record:
12:00 a.m. July 30, 1997 For the Record
Los Angeles Times Wednesday July 30, 1997 Valley Edition Metro Part B Page 3 No Desk 2 inches; 43 words Type of Material: Correction
Earnings report--The Times incorrectly reported Tuesday 3-D System Corp.’s second-quarter earnings. The company posted a $280,000 net loss for the quarter, compared with a net income of $801,000 a year ago. Net income for the six months ending June 30 was $107,865, compared with $1.9 million a year earlier.
For the six-month period, 3-D Systems posted a net loss of $107,900, down from a net income of $1.9 million a year earlier.
Revenues for the six months were $43.26 million, up 15% from $37.72 million a year ago.
