3D SYSTEMS SEES GAINS.Byline: Ben Sullivan Daily News Staff Writer After years of disappointing performance, shares in high-tech manufacturer 3D Systems Corp. have gained nearly 80 percent in 1998, making it one of the region's hottest issues. But no one seems to know precisely why. ``I can't put my finger on any one event,'' said analyst Bryant Riley, at Los Angeles-based B. Riley & Co. ``Frankly, it's been surprising.'' The company wrote off some inventory last year, restructured its European operations and has launched a new product line, said analyst James McIlree at Loewenbaum & Co. in Austin. ``It adds up, but does it add up to so much? I don't know Don't know (DK, DKed) "Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. .'' Company officials could not be reached for comment. 3D Systems makes machines that take computer-generated design files and, using lasers, light-sensitive resin and ink-jet-like printer heads, render three-dimensional prototypes of the products. The machines, and others made by 3D's competitors, are especially popular among automobile manufacturers, which use them to quickly create prototypes of new parts. Despite the company's widely acknowledged cutting-edge technology, 3D shares have been a disappointment from the start, as the company's revenues and earnings failed to match early expectations. 3D shares ended 1989 - their first year of trading - at just over $41, but fell precipitously pre·cip·i·tous adj. 1. Resembling a precipice; extremely steep. See Synonyms at steep1. 2. Having several precipices: a precipitous bluff. 3. until September Until September is a 1984 romantic drama set in France. It stars Karen Allen as an American tourist in Paris who falls in love with a married Frenchman (Thierry Lhermitte). External links 1992, when they bottomed out at around $3 apiece a·piece adv. To or for each one; each: There is enough bread for everyone to have two slices apiece. [Middle English a pece : a, a; see a . Over the next 5-1/2 years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time stock was able to scramble To encode (encrypt) data in order to make it indecipherable without having a secret key to "unlock" it. The term came from the early days of cryptography which camouflaged analog transmissions with secret frequency patterns. back only another $3 or so, opening 1998 at $6.37. But since then, 3D shares have fairly soared, closing Tuesday at $11.187. It's not because of earnings. For the year ended Dec. 31, the company lost $4.6 million, or 40 cents a diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, on $90.3 million in sales. That compared to net earnings of $4.6 million the previous year on $79.6 million in sales. So why the sudden investor confidence? A partial answer might lie in sales. Though restructuring costs sucked up much of the gain, 3D sales in Europe were up by nearly 50 percent last year. And domestic response to the company's new line of rapid prototypers reportedly has been strong, with each of the Big Three carmakers ordering units. Another factor could be that the company last year named Richard Balanson as president, shifting 3D founder Charles Hull Charles Hull VC (24 July 1890- 21 February 1953) was an English recipient of the Victoria Cross, the highest and most prestigious award for gallantry in the face of the enemy that can be awarded to British and Commonwealth forces. to the new position of chief technology officer. ``Every company as they get bigger and older needs to change their organization. They did that and that might be one of the reasons the stock's moving, too,'' said McIlree. But ultimately, McIlree and Bryant said, perhaps the biggest factor driving up 3D stock is a healthy dose of insider purchasing in recent weeks by Balanson, Hull, Chief Executive Officer Arthur Sims Sir Arthur Sims (July 27, 1877 - April 27, 1969) was a New Zealand first class cricketer who played for Canterbury. He was born in Lincolnshire, England but played his cricket in New Zealand and on occasions for Australia. and two vice presidents. All told, the executives have bought more than 50,000 shares in their company this year. When insiders who presumably pre·sum·a·ble adj. That can be presumed or taken for granted; reasonable as a supposition: presumable causes of the disaster. know the true state of a business start gobbling up stock it's usually an indication of management's confidence in the company. ``People like to see that,'' Riley said. ``It makes them feel good (about the company), too.'' GAINING GROUND A combination of improved sales, new management and inside buying has helped push the price of 3D Systems Corp. in Valencia up nearly 80 percent since the start of 1998. Jan. 6, 1998: 6 1/8 March 24, 1998: 11 7/8 April 14, 1998: 11 3/16 SOURCE: Daily News research; Bloomberg News CAPTION(S): Chart CHART: GAINING GROUND (see text) Bradford Mar/Daily News |
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