3D Systems outlines additive manufacturing strategy, aims for turnaround
Larry Dignan for ZDNet: 3D Systems outlined plans to better target industry-specific additive manufacturing through new materials, systems, software and services.
The company's focus on additive manufacturing comes a week after 3D Systems missed its earnings target and pulled it outlook. Vyomesh Joshi, CEO of 3D Systems and former HP executive, said the company is focused on customized innovation and a go-to-market strategy that goes "vertical to vertical, bridging the chasm between traditional and additive manufacturing."
For 3D Systems, the challenge will be competing with the likes of Stratasys, which also has a vertical focus and HP. The company said it landed a 3-year contract from BMW for on-demand manufacturing and Sanmina, a contract equipment manufacturer.The company reported third quarter revenue of $153 million, below estimates of $163 million. Earnings for the quarter also missed estimates with an adjusted loss of 20 cents a share. 3D Systems said it is reorganizing its sales team and swapping leadership abroad and added that it would write-down inventory. Full Article:
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