The ExOne Company Announces Fourth Quarter and Full Year 2013 Financial Results Release and Conference Call

The ExOne Company (Nasdaq:XONE) (“ExOne” or “the Company”), a global provider of three-dimensional (“3D”) printing machines and printed products to industrial customers, reported financial results today for its 2013 fourth quarter and year ended December 31, 2013.

Revenue for the year ended December 31, 2013 was $39.5 million, up $10.8 million, or 38%, compared with the prior-year period, driven primarily by machine sales as well as growth in Production Service Center (“PSC”) revenue globally. Unfavorable currency translation impacted the comparison by $0.6 million, or 2%.

Gross profit was $15.6 million, up $3.4 million compared with 2012. Gross profit as a percentage of sales was 39.4%, compared with last year’s 42.4%. The 2013 margin was impacted by sales mix and a higher fixed cost base. Selling, general and administrative (“SG&A”) expense was $16.1 million, down $2.2 million from 2012. The 2012 SG&A included a $7.7 million equity-based compensation charge, compared with $0.4 million in 2013. Research and development (“R&D”) expense was $5.1 million, compared with $1.9 million in 2012, reflecting the Company’s investments for growth.

Operating loss for the year was $5.7 million, compared with a loss of $8.1 million in 2012. Net loss attributable to ExOne was $6.5 million, or $0.51 per diluted share, compared with a $10.2 million loss in 2012.