Additive manufacturing system OEM ExOne (NASDAQ: XONE) has introduced monetary outcomes for the second quarter and first half of fiscal 2019.
Consolidated income for the three months ended June 30, 2019 was reported at $15.three million, a rise of 41 % in comparison with the identical interval in 2018, which was $10.eight million. The full income for the six months ended June 30, 2019 was reported at $24.9 million, in comparison with $22.7 million in H1 2018, demonstrating a 9 % improve.
On the outcomes, John Hartner, ExOne’s Chief Govt Officer, acknowledged, “We’re happy with the numerous progress we’re making – from a technological, industrial and monetary standpoint.”
The reported Q2 2019 income is a document degree for a second quarter for ExOne. Machine income has been credited as the primary driver behind the expansion, accounting for 60 % of the consolidated income complete, in comparison with 30 % in Q2 2018. Hartner added;
“We reached a milestone for ExOne this quarter, reporting record-setting second quarter income and gross revenue ranges, despite latest unfavorable macroeconomic components.”
The S-Max Professional and X1 25PRO
Based in 2005, ExOne has garnered over 10 years of expertise in additive manufacturing. The corporate develops binder jet 3D printing techniques for each steel and sand supplies, meant to be used in analysis and for finish use manufacturing of elements and castings. ExOne additionally supplies varied sand and steel supplies alongside its machine choices, together with certified 316L chrome steel and silica sand.
Hartner was appointed CEO of ExOne by the corporate’s Board of Administrators in Could 2019, taking up from S. Kent Rockwell, who retains the function of Chairman of the Board of Administrators. Hartner initially joined the corporate as COO in November 2018.
In June 2019, ExOne introduced the launch of its new industrial 3D sand printer, the S-Max Pro, on the 2019 GIFA International Foundry Trade Fair in Dusseldorf, Germany. In keeping with Hartner, the corporate has been receiving optimistic responses for the system, which comes outfitted with Siemens’ Digital Manufacturing facility portfolio of software program and automation know-how. The corporate additionally displayed its new X1 25PRO system on the RAPID + TCT trade show in Detroit in Could, and has enlisted tooling firms Sandvik and Kennametal as beta testers.
ExOne breaks document for Q2 income and gross revenue
ExOne complete income is split into two product strains, comprising “3D Printing Machines,” and “3D Printed and Different Merchandise, Supplies and Companies.” Of the consolidated income for Q2 2019, machine income contributed $9.three million. By comparability, machine gross sales for Q2 2018 generated $three.2 million, constituting a year-on-year improve of 187 %. The expansion is consultant of 13 machines offered in Q2 2019, in contrast with seven machines offered in Q2 2018.
3D Printed and Different Merchandise, Supplies and Companies, a recurring income determine, was reported at $6.zero million in Q2 2019, in contrast with $7.6 million within the second quarter of 2018. The 21 % decline was attributed to a decrease quantity of 3D printing tasks on the firm’s direct and oblique service facilities.
|Revenues||Q2 FY2019||Q2 FY2018||Variance $ thousands and thousands||%|
|3D Printing Machines||9,231||three,212||6,019||187.39%|
|3D Printed and Different Merchandise, Supplies and Companies||6,048||7,644||-1,596||-20.88%|
3D Printed and Different Merchandise, Supplies and Companies income was all the way down to $12.three million for the primary half of 2019, an 18 % lower from $15 million for a similar interval in 2018.
For H1 2019, 3D Printing Machines income was reported at $12.6 million, a 62 % improve from H1 2018 which was reported at $7.7 million. ExOne’s machine income in H1 2019 included the gross sales of 21 machine items, up from the 13 items offered in H1 2018.
|Revenues||H1 FY2019||H1 FY2018||Variance $ thousands and thousands||%|
|3D Printing Machines||12,560||7,734||four,826||62.40%|
|3D Printed and Different Merchandise, Supplies and Companies||12,298||15,016||-2,718||-18.10%|
For the primary half of 2019, ExOne’s gross revenue was $7.eight million, with the price of gross sales for the interval amounting to $17 million. The gross revenue determine is up 85 % from four.2 million for a similar interval in 2018. Gross margin expanded from 18.5 % in H1 2018 to 31.three % in H1 2019.
ExOne additionally achieved a document degree for gross revenue within the 2019 second quarter for any Q2 interval within the firm’s historical past. Price of gross sales for Q2 2019 got here in at $10.1 million, giving the corporate a gross revenue of $5.1 million, growing by 223 % from $1.6 million in the identical interval in 2018. In Q2 2019, ExOne’s gross margin expanded from 14.6 % in Q2 2018 to 33.7 %.
The ExOne gross revenue for Q2 and H1 2019 benefited from improved working leverage, and likewise a discount in mounted prices, which is a results of the 2018 global cost realignment program from the corporate. This system sought to cut back bills within the day-to-day operations of ExOne, together with all websites.
Talking on what is anticipated for ExOne in the remainder of the fiscal 2019, Hartner concluded, “As variability of our quarterly income ranges is typical, we presently consider that our third quarter income shall be modestly larger than our second quarter and we’re focusing on a robust fourth quarter to shut out the 12 months.”
“Importantly, we consider we have now adequate capital to execute our working plans.”
ExOne’s full financial results for Q2 and H1 2019 can be found right here.
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Featured picture exhibits the ExOne crew on the 2019 GIFA Worldwide Foundry Commerce Truthful. Photograph by way of ExOne.