FYI
3D Systems Announces New Operating Plan
VALENCIA, Calif.--(BUSINESS WIRE)--Nov. 5, 1999--3D Systems Corp. (Nasdaq:<A
HREF="aol://4785:TDSC">TDSC</A>) today announced the rollout of a new
operating plan aimed at strengthening the company's financial condition, and
positioning the company for future growth.
The strategy consists of four major initiatives:
- Reducing overhead to improve profitability;
-- Refocusing sales and marketing efforts toward identifying and
responding to customers' manufacturing needs;
-- Redirecting R&D efforts to concentrate upon developing and
expanding applications for the company's existing product line;
and
-- Consolidating the company's European operations into a single,
unified business entity.
"We are already implementing significant cost reductions in order to
stabilize the company's expenses," stated Brian Service, president and chief
executive officer. "Fortunately, only a minor portion of these reductions are
employee-related."
"We are making a switch from a technology-driven company, to a market-driven
company," added Clark Hardesty, vice president of sales and marketing. "Our
goals and objectives will be more closely aligned with our customers' needs,
and our product management team will be heavily involved in the entire
process -- from the initial customer analysis, to targeting and implementing
enterprise solutions."
Chuck Hull, the company's founder and chief technology officer, will be
leading the R&D initiatives, which will involve developing applications that
expand the value and uses of the company's products. "Similar to our sales
and marketing efforts, we intend these applications to be customer-focused,"
commented Hull.
Grant Flaharty, vice president and general manager, 3D Systems Europe, will
head the consolidation of European operations. Through this reorganization,
the company expects to realize cost efficiencies and tax benefits, streamline
communications, and improve sales activity in that region.
"Opportunities exist for us to improve margins on many products and
services," stated Marty McGough, vice president of worldwide operations, "and
we believe we are now focused to attack these opportunities."
"All of these actions are expected to improve the company's performance and
set 3D Systems on a solid course for the future," stated Service. "We are
confident in our products, strategy and our management team, and believe that
these efforts should produce long-term benefits for the company."
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