Investing.com -- Shares in The ExOne Company (NASDAQ:XONE) plummeted by nearly 10% on Thursday after the Pennsylvania-based, global provider of 3-D printing machines reported worse than expected revenue and earnings for the first quarter.
Weighed down by a strong dollar, ExOne posted a $7.7 million or 0.53 EPS loss in the first quarter. During the same period in 2014, ExOne had losses of $5.5 million or 0.38 per share. While ExOne's total revenue of $6.8 million on the period fell below analysts' forecasts of $8.2 million, the company's non-machine revenue grew by 18% to $5.7 million. Excluding foreign currency translation, ExOne's revenue from other products, materials and services grew by more than 25%.
ExOne said Thursday that it sold six 3-D printers during the three month period that ended in March.
"One of our foremost goals is to place machines in service to advance the usage of our technology. During the first quarter, we met our target of delivering six machines, two of which were recorded as sales, two were delivered to customers, and two were leased - we expect three of these to become sales in 2015," ExOne CEO Kent Rockwell said in a statement. "Also, our non-machine revenue continues its trend of solid growth, which is a favorable factor for driving future machine sales, giving us continued confidence in our strategy and outlook."
Prior to Thursday's disappointing quarterly report, shares in ExOne had already declined by more than 20% this year.
The poor earnings from ExOne underscore the struggles in the 3-D printing industry overall. In April, Minneapolis-based Stratasys Ltd. announced immediate plans to reduce operating and capital expenditures after downwardly revising its guidance. Last month, South Carolina-based 3D Systems reported a first quarter GAAP loss of 0.12 per share, amid lower than expected purchases by customers in the aerospace, automotive and healthcare industries.
Shares in ExOne fell 1.27 or 9.69% to 11.83 in after-hours trading.