Arcam shares fall 10 pct after slumps to Q2 loss
STOCKHOLM, July 18
STOCKHOLM, July 18 (Reuters) - Swedish industrial 3D printer maker Arcam posted a second-quarter operating loss and lower sales on Friday, sending shares sharply down.
The firm, which competes with the likes of Germany's SLM Solutions and privately held EOS, ran an operating loss of 6.1 million Swedish crowns ($894,600) in the quarter, down from a 6.5 million profit a year ago.
Arcam's machines print metal parts for the aerospace and implants industries, and its clients include GE Aviation, Boeing, Airbus and GKN Aerospace
Its shares, which have risen sharply in the past two months, were down 10.4 percent at 0940 GMT, compared with an unchanged Stockholm OMXS All Share index.
Arcam recevied orders for 10 printers during the quarter compared with seven a year-ago, and said it continued to see strong demand, particularly from the aerospace industry.
It currently has an order book of 17 printers.
The 3D printing industry got a big breakthrough last year when GE Aviation said its new LEAP jet engine would use 3D printed metal fuel nozzles.
GE announced earlier this week it would be investing $50 million in a facility for 3D printing, and said it was in the final stages of deciding which company would provide the printing machines.
"The work to industrialize our technology with the major players within the aerospace and implant industries continue and we can now see good opportunities for volume orders during the year," Arcam said. ($1 = 6.8189 Swedish Crowns) (Reporting by Johannes Hellstrom; editing Johannes Hellstrom)