3D Systems Reports Third Quarter 2017 Financial Results

Wednesday, November 1, 2017 General News
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3D Systems Corporation

Schedule 2

Unaudited Reconciliations of GAAP to Non-GAAP Measures

Quarter and Nine Months Ended September 30, 2017 and 2016

Quarter Ended September 30,

Nine Months Ended September 30, 

($ in millions, except per share amounts)

2017

2016

2017

2016

GAAP Net loss attributable to 3D Systems Corporation

$

(37.7)

$

(21.2)

$

(56.1)

$

(43.6)

Adjustments:

Amortization, stock-based compensation & other 1

15.5

29.1

47.7

65.6

Legal and acquisition-related 2

(0.4)

1.8

1.4

4.5

Portfolio restructuring 3

6.1

6.1

Tax effect of adjustments 4

1.5

Non-GAAP net income attributable to 3D Systems Corporation

$

(22.6)

$

15.8

$

(7.0)

$

34.1

Non-GAAP net income per share available to 3D Systems      common stock holders - basic and diluted

$

(0.20)

$

0.14

$

(0.06)

$

0.31

1 For the quarter ended September 30, 2017, the adjustment included $0.1 in COGS and $15.4 in SG&A. For the quarter ended September 30, 2016, the adjustment included $10.8 in COGS and $18.3 SG&A.  For the nine months ended September 30, 2017, the adjustment included $0.3 in COGS and $47.4 in SG&A. For the nine months ended September 30, 2016, the adjustment included $10.9 in COGS and $54.7 in SG&A.

2 For the quarter ended September 30, 2017, the adjustment included ($0.4) in SG&A. For the quarter ended September 30, 2016 the adjustment included $1.8 in SG&A.  For the nine months ended September 30, 2017, the adjustment included $1.2 in SG&A and $0.2 in interest and other income, net. For the nine months ended September 30, 2016 the adjustment included $4.5 in SG&A.

3 For the quarter and nine months ended September 30, 2016, the adjustment included $6.1 in R&D.

4 Tax effect for the quarter ended March 31, 2016 was calculated quarterly based on the Company's overall tax rate. Tax effect for the quarters ended after March 31, 2016 were calculated based on the Company's quarterly U.S. tax rate of 0%, which is due to valuation allowances in connection with GAAP net losses.

5 Denominator based on diluted shares used in the GAAP EPS calculation.



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