VALENCIA, Calif.--(BUSINESS WIRE)--April 22, 2003--3D Systems
Corp. (Nasdaq:
TDSCE) announced today that it received a Nasdaq Staff
Determination on April 15, 2003, indicating that because it did not
timely file its Annual Report on Form 10-K, it does not comply with
the timely filing requirements for continued listing set forth in
Marketplace Rule 4310(c)(14), and that its securities are subject to
delisting from the Nasdaq National Market. 3D Systems has requested a
hearing before the Nasdaq Listing Qualifications Panel to review the
Staff Determination. Under applicable Nasdaq rules, pending a decision
by the Listing Qualifications Panel, 3D Systems common stock will
continue to trade on Nasdaq. There can be no assurance that the Panel
will grant 3D Systems request for continued listing.
"The receipt of the Staff Determination is part of Nasdaq
operating procedures when a Company does not timely file a periodic
report," stated Brian K. Service, chief executive officer of 3D
Systems. "The Company is working diligently to file its Form 10-K as
soon as possible."
Effective April 17, 2003, the Nasdaq Stock Market added the letter
"E" to the Company's stock symbol because of the delay in filing Form
10-K for the year ending December 31, 2002.
About 3D Systems
Founded in 1986, 3D Systems, the solid imaging company(SM),
provides solid imaging products and solutions that reduce the time and
cost of designing products and facilitate direct and indirect
manufacturing. Its systems utilize patented technologies to create
physical objects from digital input that can be used in design
communication, prototyping, and as functional end-use parts.
3D Systems currently offers the ThermoJet(R) solid object printer,
SLA(R) (stereolithography) systems, SLS(R) (selective laser sintering)
systems, and Accura(R) materials (including photopolymers, metals,
nylons, engineering plastics, and thermoplastics).
3D Systems is the originator of the advanced digital manufacturing
(ADM(SM)) solution for manufacturing applications. ADM is the
utilization of 3D Systems solid imaging technologies to accelerate
production of smaller volumes of customized/specialized parts. A
typical ADM center is expected to contain multiple 3D Systems' SLA,
MJM and/or SLS systems dedicated to full-time manufacturing
applications.
Product pricing in the U.S. ranges from $49,995, for the ThermoJet
printer, to $799,000 for the high-end SLA 7000 system. 3D Systems'
multiple platform product line enables companies to choose the most
appropriate systems for applications ranging from the creation of
design communication models to prototypes to production parts. More
information on the company is available at
www.3dsystems.com, or by
phoning 888/337-9786, or 661/295-5600 ext. 2882 internationally. An
investor packet can be obtained by calling 800/757-1799.
Note to editors: ADM and the solid imaging company are service
marks; and si2 is a trademark; and ThermoJet, SLA, SLS, Accura and the
3D logo are registered trademarks of 3D Systems Inc.
Certain statements in this news release may include
forward-looking statements that express the expectation, prediction,
belief or projection of 3D Systems. These statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, performance and achievement of 3D Systems to be
materially and adversely different from any future results,
performance or achievement expressed or implied by these
forward-looking statements. Factors that may cause actual results to
differ from the forward-looking statements contained in this release
and that may affect the company's prospects in general include, but
are not limited to: the timing and outcome of the Audit Committee
investigation; the impact of the findings of the Audit Committee on
the financial condition of the Company and otherwise, the consequences
of a late filing of the Company's Form 10-K under the rules and
regulations of the SEC and Nasdaq, the outcome of the Company's appeal
of Nasdaq's determination to delist the common stock from the National
Market; the addition of an "E" to the Company's trading symbol thus
changing the Company symbol to "TDSCE", the funding of amounts of
capital adequate to provide for the working capital needs of the
company; actions of competitors and customers; the Company's ability
to successfully design and produce new products; customer acceptance
of new products; the Company's ability to enter into successful
relationships with new customers to fully exploit its products; the
Company's ability to successfully implement all elements of its
restructuring and cost savings program, and such other factors as are
described in the Company's filings with the Securities and Exchange
Commission. The Company does not undertake to update any
forward-looking statements.
CONTACT: 3D Systems Corp. Elizabeth Goode, 661/295-5600, ext. 2632 (marketing) Email Contact or Self & Associates Trudy Self, 909/336-5685 (investor relations) Email Contact