ExOne (XONE) Misses Q4 EPS by 12c, Revenues Miss
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ExOne (NASDAQ: XONE) reported Q4 EPS of ($0.12), $0.12 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $17.5 million versus the consensus estimate of $21.23 million.
- Q4 2019 revenue of $17.5 million, impacted by revenue recognition timing
- Q4 2019 net loss of $2.0 million, realized positive Adjusted EBITDA*
- Closed 2019 with record backlog of $31.1 million, positions 2020 for growth
- Completed sale-leaseback improves liquidity
“Based on the strength of our new product lineup, machine orders intensified during the fourth quarter, driving our backlog to an all-time record — more than double our year-end 2018 backlog,” said John Hartner, ExOne CEO. “While fourth quarter revenue fell short of expectations, we are strongly encouraged by order activity and a surge of interest in our technology. Our fourth quarter revenue shortfall was largely associated with the timing and duration of new model machine installations.”
Outlook – Backlog, New Products and Pipeline Point to Growth in 2020
Mr. Hartner concluded, “Macroeconomic concerns and the effect of the coronavirus are impacting the timing of customer decision-making. Nonetheless, we are encouraged by the strength of our backlog and customer acceptance of our new products. Our active pipeline of opportunities gives us optimism for growth in 2020. We remain focused on advancing our binder jetting technology and driving profitable growth.”
For earnings history and earnings-related data on ExOne (XONE) click here.
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