Geo Week News

May 15, 2013

New Geomagic software reinvents ‘the engineer's desktop’



Parent co. 3D Systems Corp. to release new products in July

3D Systems Corporation, the nation’s top 3D printer manufacturer, Wednesday announced it is “reshaping the engineers’ desktop” with new design-to-manufacturing software under its Geomagic Solutions brand.

Rock Hill, S.C.-based 3D Systems, which bought Geomagic, Inc., in February for $55 million in cash, is a publicly traded (NYSE: DDD) manufacturer and marketer of commercial and consumer 3D printers, printing materials and software services as well as CAD modeling, reverse engineering and inspection software tools.

The new Geomagic Solutions product combines the company’s 3D haptic modeling, reverse engineering tools and its mechanical CAD, fully automated inspection and verification software.

Geomagic software also includes a voxel-based modeler that is 3D printer ready, boosting engineering productivity and parts manufacturability. New products will be released in July.

Last week, the company filed a $500 million mixed shelf registration with the Securities and Exchange Commission, detailing its intention to sell a mix of registered securities, including common and preferred stock shares, warrants and debt securities, at some time in the future.

The company said it will not receive any proceeds from the sale of offered securities but expects to use them to finance future acquisitions and for working capital, which may include paying off debt.

Late last month, 3D Systems reported record quarterly revenue of $102.1 million, up 31 percent, on 81 percent higher printer sales.

The company reported first quarter net income dropped to $5.9 million, or $0.06 per share, but excluding one-time items, the company earned $0.21 per share meeting analysts’ expectations.

“We expect 2013 to be our most exciting and most productive new product introduction year in the history of the company,” said 3D Systems CEO Avi Reichental at the time.

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