March 7--Fourth-quarter revenue jumped 15 percent to $44.1 million for 3D Systems Corp., the Valencia, CA, company that plans to move its headquarters and other operations to Rock Hill this year. That compares with $38.3 million in the fourth quarter of 2004.
Buoyed in part by a $2.5 million reduction in deferred tax assets, quarterly and yearly profits were also boosted by increased printer systems and materials sales during the quarter, says Abe Reichental, president and chief executive.
Net income for the quarter nearly doubled to $6 million, or 32 cents per share, from $3.1 million, or 20 cents per share, in the year-earlier period.
"As the year progressed, revenue from new products continually increased as a total share of our revenue mix, climbing to 38 percent of total revenue in the fourth quarter and ending at 28 percent of total revenue for the full year," Reichental says.
For 2005, 3D's earnings rose 11 percent to $8.4 million, or 53 cents per share, on $139.7 million in revenue for 2004.
The company announced in January it would spend $18 million and create 145 jobs as it moves to Rock Hill.
The company manufactures printers, stereolithography machines, and laser devices that cast plastic prototype models and metal production parts for the medical, aerospace, and other industries.