3-D Systems Reports Loss of $2.87 Million

3-D Systems Inc. reported a fourth-quarter loss of $2.87 million and said it is trying to secure additional capital to make up for the deficit.

3-D is a Canadian holding company whose principal unit is 3D Systems in Valencia, which makes machines that combine a laser, computer and chemicals to rapidly produce models of parts, equipment and other products. The models are used as prototypes for various manufacturers.

3-D’s loss in the quarter ended Dec. 31 compared with net income of $429,680 a year earlier, and came on a 47% drop in the company’s sales, to $3.54 million from $6.67 million. For the full year, 3-D had a $2.32-million loss, compared with $1.95-million loss in 1989, but its annual revenue rose 43% to $25 million from $17.5 million.

The company was doing well through the first nine months of last year, but it was hobbled in the last quarter when concerns about the Persian Gulf War and the U.S. economic slowdown prompted customers to cut back orders for 3-D’s equipment.

3-D “is at present continuing to expend more money than it earns, and it is actively exploring additional sources of capital,” 3-D Chairman Raymond S. Freed said in a statement.