3D Systems revenue up 42% in 2010

All categories rebounded nicely from 2009. The company continued to expand its services division with last week’s acquisition of Quickparts.

The 3D Systems SinterStation Pro

3D Systems Corporation (NASDAQ: TDSC) has posted a 42% revenue increase on both fourth quarter 2010 and full-year 2010 revenue. Shortly after announcing results, 3D Systems acquired Quickparts, an online additive manufacturing service bureau based in Atlanta with 2010 annual revenue of $25 million.

For the fourth quarter of 2010, ending December 31, 2010, revenue was $51.6 million, up 42% from a year earlier. Net income was $9.4 million, up 165% from 4Q09.

Revenue from printers in 4Q10 was $9.3 million, up 100% from 4Q09. Revenue from materials was $10.4 million in 4Q10, up 22% from 4Q09. Revenue from services was $5.2 million in 4Q10, up 77% from 4Q09.

Full year results

For the full 2010 fiscal year ending December 31, 2010, revenue was $113.1 million, up 42% from FY2009. Breaking down the FY2010 numbers further:

  • Production printer revenue: $32 million ($18.7 in 2009)
  • Personal & professional printer revenue: $22.3 million ($11.8 million in 2009)
  • Services revenue: $46.8 million ($32 million in 2009)
  • Print materials revenue: $58.4 million ($50.3 million in 2009)

By geographies in 2010:

  • North American revenue was $72.5 million (up 48% from 2009)
  • European revenue was $65.5 million (up 34.5% from 2009)
  • Asia-Pacific revenue was $21.9 million (up 44% from 2009)

3D Systems pulled out data from one market segment, health care, for special attention. Revenue from health care (across all categories) was $21.6 million in 2010, up 38% from $15.7 million in 2009.

Highlighting the importance of previous 3D Systems acquisitions in the services area, $10.3 million of 2010 services revenue came from businesses acquired in 2010. 3D Systems expects the Quickparts acquisition will immediately contribute to net income in 2011.

Cash per share on December 31, 2010 was $1.60, up nicely from $1.03 a year earlier.

3D Systems selected operational highlights for 2010, compared with 2009 results. (Chart courtesy 3D Systems)