今天上午，3D Systems与投资者和分析师进行了长时间的收益电话，提出了他们最新的财务业绩，并解决了公司的未来。在不到15分钟的时间内，第二季度结果的呈现很快就被覆盖。但是分析师通过详细的问答环节将电话延长了近一个小时。
该公司报告2016年第二季度的收入为1.581亿美元。这是2015年比较期的7％，但今年第一季度增加了550万美元。
这year on year revenue decrease is greater than investment analyst consensus expectations; this perspective anticipated a 5.6% decrease in revenue compared to the reported 7%.
今天的业绩显示，该季度的3D Systems Corporation亏损了1,120万美元（2015年第一季度$ 893K利润）。这使一年的损失达到了2110万美元，对2015年比较数字的提高了1,180万美元。
This quarter also represents an improvement on Q1 where the net loss was $17.8 million.
预期的策略公告
自4月加入3D系统以来，首席执行官兼总裁Vyomesh Joshi在周三上午的第二次收益电话中与投资者进行了交谈。首席执行官退休后是领导该公司的，作为HP的前执行副总裁，他带来了丰富的经验，并深入了解了潜在的竞争对手。
VJ’s announcements regarding strategy were keenly anticipated but precise details were not to be forthcoming on today’s call. Interested parties will have to wait until September 12thto learn how 3D Systems plan to achieve profitable growth when the company presents at Chicago’s IMTS event.
首席执行官确实提供了指导策略的关键举措的概述。VJ认为，“ 3D系统具有强大的协同和差异化的技术组合。”
这reported 11% increase in revenue from the healthcare segment is seen as, “Evidence that customers are relying on [3D Systems] end-to-end solutions to power advanced digital manufacturing workflows,” said VJ.
John McMullan, executive vice president and CFO, is a former colleague of VJ from his time at HP and presented the Q2 results and the priorities for moving forward.
这decrease in operating expenses was primarily due to the lower amortization ($8.8 million), or depreciation, and costs related to stock based incentive packages ($7.2 million). In the case of the later these are most likely to be non-recurring savings. McMullan reported that the business generated $12.9 million of cash from operations, and $9.5 million from free cash flow.
医疗收入增长(11%)、材料(12%) and software (8%) were insufficient to offset the decreases reported in on demand manufacturing services (-20%) and printers (-30%). The decrease in printer revenue was partly due to a renewed focus on quality and ensuring rushed shipping of products was not at the expense of quality, explained the CEO.
McMullan补充说，打印机收入的下降是“主要是由高端专业和生产打印机的订单计时驱动的。”这与早期的猜测有关，即潜在客户可能会推迟投资，直到当年晚些时候，当惠普和碳等其他主要工业企业将产品推向市场时。
麦克穆兰说：“毛利率依次是平坦的。”分析50.9％（2015年第2季度47.9％）的标题毛利润率说明了3D系统的“剃刀和刀片”商业模型。在这三个收入流中，材料的毛利率最高，收入为76.4％（77.3＆Q2 2015）。相比之下，例如3D打印机和软件的毛利率为32.6％（2015年第2季度为27.8％）。简而言之，3D系统销售盈利较低的3D打印机，以便在耗材上获得更高的利润。
这third revenue stream, Services, has a gross profit margin that sits close to the headline average at 50.2% (Q2 2015).
“The decrease in products revenue for the quarter and six months ended June 30, 2016 was primarily driven by lower sales of 3D printers and the discontinuation of consumer products,” explains the company’s 10-Q filing with the SEC. A concern for investors is that lower sales of 3D printers will feed a decrease in the demand for the more profitable materials in the future.
这公司的10-Q给出进一步的详细信息，“除了销售量的变化（包括收购收入的影响）外，还有另外两个主要驱动因素从一个时期变为另一个时期：产品组合变化和平均销售的综合影响价格，有时被称为价格和混合效应，以及外币波动的影响。”
从消费市场上转移已经减少了与研发相关的费用，从长远来看，这些节省将与投资，“质量，基础设施和其他关键领域”之间的投资保持平衡。麦克穆兰（McMullan）强化了VJ先前的信念，即3D系统具有强大的技术平台，并且“行业中最广泛的投资组合”。首席财务官还承认，关于公司历史轨道的“事情有点颠簸”。
Focus on production
VJ解释说，3D系统将专注于生产打印机，而不是专业级打印机，该策略的目标是增加该领域的安装基础。第二个重点将放在新材料上，这些材料是“我们业务的关键”。首席执行官透露，自加入公司以来，他指示员工专注于材料管理作为重要业务。
Broader demand trends were also addressed by VJ. In particular growth in the prototyping market would be difficult and that a focus on light production would likely be a better option. This will involve continued innovation around the 3D Systems range of production printers and looking at use cases in vertical markets. “The solution based approach,” will be an important part of this strategy.如前所述，这种方法可能需要与客户的大量互动。
VJ指出，医疗保健的增长是在航空航天，汽车，消费品和其他垂直行业中复制的模型。当实现这一目标时，他认为公司范围内的增长将是可持续的。
质量和供应链问题是一位分析师问题的重点，VJ解释说，HP的供应链和运营官的雇用将解决诸如运输产品之类的问题，然后才能确保其最佳库存水平。他承认该公司在这一领域有工作。
股票市场对今天的新闻的接待非常有利，股票在早期交易中也有所增加。下半年很可能会产生一些有趣的消息，并且随着越来越多的公司进入生产和专业的3D打印空间，诸如3D系统之类的现有企业的反应将受到仔细审查。
