The 3D printing industry has a number of burgeoning startups trying to take their own slice of market share. But there’s one company who have been around for a long time and are growing at an exponential rate.
3D Systems (3DS), founded by Chuck Hull in 1986 have just released their first quarterly report of 2013 and despite some well-appointed detractors heavily criticisng 3DS earlier in the year, the results are good, really good.
Revenue is up a massive 31% to $102.1 million, thanks in large to the 81% increase in 3D printer sales. During the first quarter of 2013, 3D Systems introduced significant new products to its portfolio, including both personal and industrial 3D printers, powerful design software suites and consumer apps.
“We are very pleased to report outstanding quarterly results on higher printers’ sales,” said Avi Reichental, 3D Systems’ President and Chief Executive Officer. “We believe that the vibrancy of our diversified portfolio, productivity of our channels and effectiveness of our strategic growth initiatives will continue to fuel our progress and results.”
Interestingly Citron Research suggested in their report that 3D Systems did not invest in research and development however contrary to that viewpoint the Q1 report outlines how R&D expenditures increased by $1.6million dollars.
“We continue to experience positive sales momentum that is shaped primarily by increased demand from advanced manufacturing activities. While we may face lingering economic uncertainties in parts of the world, we expect to continue to benefit from robust R&D and manufacturing spending by our customers worldwide,” concluded Reichental.
The company continue to grow, it is almost on a weekly basis that we see a new acquisition, the biggest of which was Ping Fu’s Geomagic last year. Just today 3D Systems have announced that they have acquired Tony Moran’s Rapid Product Development Group Inc.
“We are honored to become part of 3D Systems, the recognized global 3D content-to-print leader,” said Tony Moran, CEO and Founder of RPDG. “Together, we can deliver the full impact of 3D printing and traditional manufacturing capabilities to our global customers.”
This continued growth coupled with an incredible $18 hike in share price in the space of one year firms up 3D Systems’ place as industry giants.