Machine revenue was up 6% to $4.5 million. Six machines were sold in the 2018 first quarter as compared with five in the 2017 first quarter.
Non-machine revenue (3D printed and other products, materials and services) was up 12% to $7.4 million in the first quarter of 2018, compared with the prior year. This increase was principally driven by higher revenue in the Company’s direct production service center operations and, to a lesser extent, increased consumable material and service revenue based on a growing installed base. These increases were offset with the absence of revenue from the 2017 exit of a specialty machining operation and lower revenue on indirect service centers due principally to machine sales to previous service center customers. Excluding $0.3 million of revenue attributable to the exited specialty machining product line, the comparable non-machine revenue grew by 17% on a non-GAAP basis.
Given the long sales cycle and significance of a machine’s average selling price relative to total revenue, fluctuations in machine-sale revenue vary from quarter to quarter. ExOne does not believe that such quarter-to-quarter fluctuations are necessarily indicative of larger trends.
First Quarter Operations – Improving Gross Margin, Accelerated Investments
|
($ in millions,
except per-share amounts) |
Q1 2018 |
Q1 2017 |
Change |
% Change | ||||
| Gross profit | $2.6 | $1.6 | $1.0 | 63% | ||||
| Gross margin | 22.0% | 14.7% | ||||||
| Operating loss | ($6.4) | ($6.7) | $0.3 | 4% | ||||
| Net loss | ($6.4) | ($6.8) | $0.4 | 6% | ||||
| Diluted EPS | ($0.40) | ($0.42) | $0.02 | 5% | ||||
