(Adds details, updates share movement)
May 14 ExOne Co reported quarterly
revenue much below analysts' expectations as the company sold
fewer 3D printers and micromachinery.
The company's shares fell 18 percent in extended trading.
ExOne said gross margin dropped to 22.2 percent in the first
quarter ended March 31 from 35.8 percent a year earlier due to
"significant development costs" for its ExCast casting
The company said on Wednesday it now expects 2014 gross
margin of 40-43 percent, down from its previous forecast of
ExOne's machines, which cost anything between $100,000 and
$1.5 million, can print on diverse materials such as stainless
steel, bronze, glass, silica sand and ceramics.
Larger rival 3D Systems Corp last month reported its
first drop in quarterly gross margins in two years.
First-quarter net loss attributable to ExOne widened to $5.5
million, or 38 cents per share, from $1.9 million, or 20 cents
per share, a year earlier.
Excluding items, the company reported a loss of 37 cents per
share, way above analysts' average estimate of a loss of 12
cents, according to Thomson Reuters I/B/E/S.
Revenue fell to $7.3 million from $7.9 million a year
earlier. Analysts had expected revenue of $9.9 million.
Printers and other machinery sales - a third of total
revenue - almost halved to $2.4 million from $4.2 million. Sales
of Printing parts and materials brought in $7.3 million.
ExOne also makes micromachines which use laser to drill
The company's shares, which have lost almost half their
value so far this year, closed at $30.83 on the Nasdaq on
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by