Restructuring initiative targeted to deliver incremental annualized savings of
Focus on delivering sustainable profitability while investing in essential growth platforms
Preliminary third quarter 2023 revenue expected of
Withdrawing full-year 2023 guidance in response to softening outlook for customer capital spending on new production capacity
Management to discuss financial results and restructuring initiative on
3D Systems (NYSE:DDD) today announced preliminary third quarter 2023 revenue results and provided a business update on the next phase of its multi-faceted restructuring initiative.
For the third quarter 2023, the company expects revenues between
In light of these results and continuing macro-risks, the company also announced the next evolution of its restructuring initiative designed to improve operating efficiencies throughout the organization and drive long-term value creation. This additional phase of the restructuring initiative will target to deliver expected annualized savings of
The company has not yet completed its financial and operating closing procedures for the third quarter 2023. Additionally, the preliminary financial data above has not been subject to review or other procedures by the company's independent registered public accounting firm. As a result, actual results may differ materially from the preliminary results shown above and will not be publicly available until the company reports its third quarter 2023 results in early
Third Quarter 2023 Financial Results Timing
Third quarter 2023 financial results and additional details regarding the restructuring initiative will be released before market and discussed by management during the Third Quarter 2023 Financial Results Conference Call on
Third Quarter 2023 Financial Results Conference Call
Date:Wednesday, November 8, 2023
Time:
Listen via webcast: www.3dsystems.com/investor
Participate via telephone: 201-689-8345
The webcast replay will be available approximately two hours after the end of the conference call at www.3dsystems.com/investor.
Forward-Looking Statements
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as 'believes,' 'belief,' 'expects,' 'may,' 'will,' 'estimates,' 'intends,' 'anticipates' or 'plans' or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management's beliefs, assumptions, and current expectations and may include comments as to the company's beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings 'Forward-Looking Statements' and 'Risk Factors' in the company's periodic filings with the
About 3D Systems
More than 35 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading additive manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction - empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials, and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems' solutions address a variety of advanced applications in healthcare and industrial markets such as medical and dental, aerospace & defense, automotive, and durable goods. More information on the company is available at www.3dsystems.com.
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