ExOne (XONE) Reports Quarterly Loss

Shares of The ExOne Company (XONE) were trading down -3.95 or -9.03 percent to $39.80 per share in pre-market trading this morning, after the company reported a quarterly loss and a drop in revenue. The drop was attributed in part to a mix of fewer high end 3-D printers sold in the fourth quarter. ExOne stock closed at $43.75, up +1.45 or +3.43 percent in Wednesdayâ s regular trading session.

North Huntingdon, Pennsylvania based, The ExOne Company is a global manufacturer of 3-D printers.
These machines build 3-D models and components for their clients in the automotive, aerospace and heavy equipment industries. The company is currently expanding into small metals 3-D printing to compete with traditional manufacturing. ExOne had its initial public offering in February of last year and has pioneered the field of additive manufacturing and the micromachining process. ExOne reported a loss of -$3.2 million or $0.22 per share on revenue of $10.7 million for the companyâ s fourth quarter ended December 31st. Analysts were expecting a profit of +$0.01 per share on revenue of $12.1 million. The company sold 12 printer units in the quarter, versus 8 it had sold in the previous quarter, nevertheless, the company sold only three high end printers compared to five it had sold in the same period one year ago. The mix of printer sales affected gross margins, which fell to 30.9 percent in the quarter, versus 49 percent in 2012â s fourth quarter. Machinery and printer sales, which account for 66 percent of total revenue, dropped 22 percent. For the year, the company had an operating loss of -$5.7 million, versus a loss of -$8.1 million in 2012. Net loss attributable to ExOne was -$6.5 million or -$0.51 per diluted share. S. Kent Rockwell, ExOneâ s Chairman and CEO, stated in the companyâ s press release, "For our relatively young manufacturing technology company, 2013 has been a dynamic year of significant progress. We invested in a variety of sales-related initiatives and technological advancements. We are expanding our manufacturing capacity and, most importantly, we enhanced our personnel and leadership capabilities, increasing our full-time equivalent headcount by 45%. Our customers are responding favorably to our ExCast process, which encompasses the entire pre-print through post-print cycle. While we can't predict timing of our customers' behavior with accuracy, their feedback gives us their commitment to and confidence in our binder jetting technology and its varied industrial applications. Accordingly, as we progress in 2014, we believe that the adoption of 3D printing in industrial manufacturing applications is gaining momentum in our global marketplace." For its fiscal 2014 year, ExOne expects revenue growth of 40 to 50 percent, to $55 million - $60 million; analysts were expecting the company to forecast revenue of $61.6 million. The company had lowered its guidance in January, citing machine sales yet to be completed in Mexico, Russia, India and France, saying the delay was caused by approval processes which postponed purchases until later this year. ExOne stock is up over +40 percent in the last twelve months, the company is at the forefront of technology that will revolutionize the manufacturing process. While the companyâ s outlook for this year failed to meet analyst expectations, 3-D printing technology is the wave of the future. Other News About ExOne The ExOne Company Receives Buy Rating from Jefferies Group Broker reiterates their â

Published on Mar 20, 2014
By Jay Hawk
Jay Hawk
Jay Hawk enjoyed a 12-year professional financial markets career incorporating extensive first hand futures and options experience obtained by trading in the stock, commodity and forex markets on U.S. exchanges. Since retiring as a full-time financial market professional, he has been actively trading stock, commodities, forex and options for his own account and managing funds for others, as well as writing financial market commentary and educational articles.

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