ROCK HILL, SC, USA, Feb 24, 2021 – 3D Systems (NYSE:DDD) announced that it will delay its fourth quarter and full year 2020 conference call, previously scheduled for February 25, 2021.
3D Systems will release its financial results for the fourth quarter and full year 2020 and file its Annual Report on Form 10-K after the U.S. stock markets close on Monday, March 1, 2021. The company will hold a conference call and simultaneous webcast to discuss these financial results the next morning, Tuesday, March 2, 2021, at 8:30 a.m. Eastern Time.
In the course of preparing the company’s financial results for the fourth quarter and full year 2020, the company discovered certain internal control deficiencies. As a result, the company may report one or more material weaknesses in internal controls in its upcoming fiscal 2020 Annual Report on Form 10-K. As of the date of this release, there have been no misstatements identified in prior year financial statements as a result of these deficiencies, and the company expects to timely file its Form 10-K on March 1, 2021. Please refer to the upcoming fiscal 2020 Annual Report on Form 10-K for more information.
The company is reaffirming preliminary financial data for the quarter ended December 31, 2020 previously announced on January 7, 2021. The company continues to expect revenue for the fourth quarter of 2020 will be in the range of $170 million to $176 million, fourth quarter GAAP operating (loss) income will be in the range of $(8.6) million to $0.5 million, and fourth quarter non-GAAP operating income in the range of $11 million to $19 million(1). The GAAP operating loss for Q4 2019 was $(4.7) million and for Q3 2020 was $(67.6) million. The expected fourth quarter 2020 non-GAAP operating income range compares favorably to the non-GAAP operating income of $5.6M reported in Q4 2019 and $0.0M reported in Q3 2020.
The preliminary financial data above remains subject to audit, review or other procedures by the company’s independent registered public accounting firm. As a result, actual results may differ from the preliminary results shown above and will not be publicly available until the company reports its fourth quarter and full year 2020 results.
(1) See Appendix for reconciliation of GAAP and non-GAAP operating loss.
Conference Call Details
- Conference Call Details
- Date: Tuesday, March 2, 2021
- Time: 8:30 a.m. Eastern Time
- Listen via webcast: www.3dsystems.com/investor
- Participate via telephone: 201-689-8345
The webcast replay will be available approximately two hours after the end of the conference call at www.3dsystems.com/investor.
About 3D Systems
More than 30 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading additive manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction – empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials, and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems’ solutions address a variety of advanced applications in healthcare and industrial markets such as medical and dental, aerospace & defense, automotive, and durable goods. More information on the company is available at www.3dsystems.com.