ExOne Shares Tumble Following Q1 Results

Shares of

dipped over 10 percent in after-hours trading after the company reported results for the first quarter. The North Huntingdon, Pennsylvania-based company posted a quarterly net loss of $7.7 million, or $0.53 per share, versus a year-ago net loss of $5.5 million, or $0.38 per share. Its revenue slipped 7 percent year-over-year to $6.8 million. Analysts were expecting a loss of $0.29 per share on revenue of $8.12 million. The average estimate among 10 Estimize users was for a loss of $0.36 per share and revenue of $7.96 million. Non-machine revenue surged 18 percent year-over-year to $5.7 million in the quarter. Its adjusted EBITDA was a $6.2 million loss in the latest quarter, versus a $4.0 million loss in the year-ago quarter. Its gross profit was breakeven in the first quarter, versus $1.6 million, in the year-ago quarter. Operating loss widened to $7.9 million from $5.4 million. SG&A expenses increased to $6.1 million from $5.2 million, while R&D expenses for the quarter slipped by $0.1 million to $1.7 million. S. Kent Rockwell, Chairman and Chief Executive Officer, commented, "One of our foremost goals is to place machines in service to advance the usage of our technology. During the first quarter, we met our target of delivering six machines, two of which were recorded as sales, two were delivered to customers, and two were leased -- we expect three of these to become sales in 2015. Also, our non-machine revenue continues its trend of solid growth, which is a favorable factor for driving future machine sales, giving us continued confidence in our strategy and outlook." The company reaffirmed its outlook for 2015. It expects revenue to rise around 32 percent to 50 percent, to around $58 million to $66 million. ExOne shares fell 10.69 percent to $11.70 in the after-hours trading session.