- Increasing focus on professional and industrial applications
- Customer support and sales of materials will continue through new e-commerce platform at
www.3dsystems.com
ROCK HILL, S.C., Dec. 28, 2015 (GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD) announced today that it will discontinue production of its $999 consumer 3D printer, the Cube ®. The move reflects management’s plans to focus its resources and strategic initiatives on near-term opportunities and profitability. Availability of the CubePro ® 3D printer—designed for desktop engineering, educational and professional applications—will continue uninterrupted.
The company will continue to sell the existing inventory of Cube printers. Ongoing support and sale of materials for Cube customers will be provided through a new e-commerce platform on the company’s primary corporate domain, 3dsystems.com. The consumer platform Cubify.com will be closed on January 31, 2016 and the company’s line of retail products, including phone cases and jewelry, that were previously available on Cubify.com will be discontinued.
Management believes a greater focus on manufacturing applications and delivering new and enhanced manufacturing systems can drive adoption, yield higher returns on investment and increase earnings. As part of this shift away from consumer products, management expects revenue to be impacted by less than 2% and profitability to improve. In addition, management expects to record a charge in the fourth quarter in the range of approximately $19 million to $25 million related primarily to inventory write downs and related purchase commitments.
“In connection with our ongoing review of our business and industry, we believe that the most meaningful opportunities today are in professional and industrial settings, from the product design shop to the operating room to the factory floor,” said Andy Johnson, Interim-Chief Executive Officer & Chief Legal Officer, 3D Systems. “We are focusing our efforts on enabling professionals and companies to improve their designs, transform their workflows, bring innovative products to market and drive new business models.”
About 3D Systems
3D Systems provides the most advanced and comprehensive 3D digital design and fabrication solutions available today, including 3D printers, print materials and custom-designed parts. Its powerful ecosystem transforms entire industries by empowering users to bring their ideas to life using its vast material selection, including plastics, elastomers, metals and bio-compatible materials. 3D Systems’ leading personalized medicine capabilities include end-to-end simulation, training and planning, and printing of patient-specific surgical instruments and medical and dental devices. Its 3D digital design, fabrication and inspection products provide seamless interoperability and incorporate the latest immersive computing technologies. 3D Systems’ products and services disrupt traditional methods, deliver improved results and empower its customers to manufacture the future now.
More information on the company is available at www.3dsystems.com
Investor Contact: Stacey Witten Email: investor.relations@3dsystems.com Media Contact: Timothy Miller Email: Press@3dsystems.com
