3D Systems shares fall to 4 1/2-year low on lower earnings

From staff reports

Shares of 3D Systems Corp., a Rock Hill multimedia and graphics software company, fell by more than one-third today -- a day after announcing it's first-quarter net loss rose 19 percent because of lower sales.

Net loss for the quarter ending March 31 was $3.7 million, or a loss of 17 cents a share, versus a loss of $3.1 million, or loss of 16 cents a share, in the same period a year ago.

Revenue fell 14 percent to $31.8 million. Operating expenses dropped 7 percent to $16.7 million.

Shares were down $5.14 to $8.98 by midday -- well below the previous 52-week low of $11.51 and the lowest they've been since September 2003. "I am deeply disappointed with the revenue decline that we experienced during the first quarter, a decline that impacted our entire operating results for the quarter," President and Chief Executive Officer Abe Reichental said in statement.