ExOne reports first profit as sales, stock price surge
3-D printer maker ExOne Co. on Wednesday reported its first profit as a publicly owned company.
The North Huntington company's stock jumped 5.4 percent to $32.25, up $2.65, after it said net income for the final three months of 2012 was $902,000, an improvement over a net loss of $2.77 million in the same period a year earlier.
The company's revenue surged to $12.7 million, up 370 percent from $2.7 million last year.
“We made solid progress in 2012” said CEO Kent Rockwell, in a statement. “The recent technological advances of our 3D printing machines create persuasive economics for our industrial customers, who have demonstrated a growing interest in applying 3D printing in their manufacturing processes.”
ExOne makes three-dimensional printing machines and related products for additive manufacturing. The technology deposits thin layers of a material atop one another using a digital blueprint, to produce a precise component or product while using less energy than traditional manufacturing.
ExOne's stock has nearly doubled since it sold shares to the public on Feb. 6, when it offered 5.3 million shares at $18 under the symbol XONE, raising $95 million. It closed on the first day of trading on Feb. 7 at $26.52.
For the year 2012, revenue was $28.7 million, up 87.6 percent from $15.3 million in 2011. Net loss in 2012 was $10.2 million, compared with a net loss of $8.0 million in 2011.
ExOne was founded in 2003 as part of Extrude Hone Corp., which now is part of Kennametal Inc. in Unity Township.
John D. Oravecz is a staff writer for Trib Total Media. He can be reached at 412-320-7882 or firstname.lastname@example.org.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Stocks rise on wind of Greece resolution
- Kraft shareholders approve merger with Heinz
- Halliburton to close Indiana County office
- Alpha Natural Resources buys out European partner in Marcellus venture
- Market pulls back as hopes for Greece resolution fade
- Fed interest rate Q&A
- Data transfer in mergers tall task for chief information officer for Peoples Gas
- Snappers treat revitalizes Lawrenceville’s Edward Marc Brands chocolatier
- Job hunters rightly fear having identities stolen