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To: The Ox who wrote (4117)	3/16/2015 5:39:13 PM
From: The Ox	Respond to of 8278

Some 3D Printing company charts: Message 28761576 ExOne (NASDAQ: XONE) reported Q4 EPS of ($0.50), $0.45 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $15.8 million versus the consensus estimate of $18.54 million. Adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA") was a $5.1 million loss in the 2014 quarter, compared with a $2.1 million loss during last year's fourth quarter. S. Kent Rockwell, Chairman and Chief Executive Officer, commented, "With solid fourth quarter sales, we experienced a good finish to an otherwise challenging transition year. Customer feedback indicates that we are accelerating implementation with many global customers as they move into their adoption phase. They are planning purchases of additional machines and larger orders of PSC produced parts." Given the long sales cycle and significance of a machine's average selling price relative to total revenue, fluctuations in machine-sale revenue vary from quarter to quarter. ExOne does not believe that such quarter-to-quarter fluctuations are necessarily indicative of larger trends. Traditionally, sales escalate after the first quarter. Additionally, we expect the revenue to be weighted approximately 30% in the first half of 2015 versus 70% in the second half due to an accelerating volume of machine sales throughout the year. Mr. Rockwell continued, "While disappointed with our near-term financial results, we are proud of the progress we made in our strategic efforts to create a high growth global enterprise based on our binder jetting technology. We made significant investments in our people and processes, our facilities, our machine platforms and our materials. We believe these investments will lead to an escalation in market acceptance of binder jetting applications in global industrial development." 2015 Outlook – Growing Customer Adoption Revenue expected to grow approximately 32% to 50%, to about $58 million to $66 million. (The Street sees revs of $61.8 million.) Gross margin expected to be between 36% and 40%, excluding anticipated non-recurring costs estimated at $0.5 million to $1.0 million to complete facility integrations SG&A expenses expected to be in a range of $21 million to $23 million, excluding approximately $0.5 million to $1.0 million of costs associated with ongoing implementation of the Company's enterprise resource planning system R&D expenses expected to be in a range of $6.5 million to $7.5 million Capital expenditures expected to be between $5 million and $7 million