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Segment Information
 12 Months Ended
Dec. 31, 2013
Segment Information [Abstract]  
Segment Information

Note 21 Segment Information

 

The Company operates in one reportable business segment in which it develops, manufactures and markets worldwide 3D printing, rapid prototyping and manufacturing printers and parts solutions, which produce three-dimensional objects more quickly than traditional manufacturing. The Company conducts its business through subsidiaries in the U.S., a subsidiary in Switzerland that operates a research and production facility and sales and service offices operated by subsidiaries in Europe (France, Germany, Italy, the Netherlands, Switzerland and the United Kingdom) and in Asia Pacific (Australia, China, India, Korea and Japan). The Company has historically disclosed summarized financial information for the geographic areas of operations as if they were segments in accordance with ASC 280, “Segment Reporting.” Our geographic external sales and operating profits are attributed to the geographic regions based on their location of origin. Such summarized financial information concerning the Company’s geographical operations is shown in the following tables:

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

2013

 

2012

 

2011

Revenue from unaffiliated customers:

 

 

 

 

 

 

 

 

 

United States

 

$
284,752 

 

$
196,414 

 

$
117,739 

Germany

 

 
51,245 

 

 
39,748 

 

 
34,978 

Other Europe

 

 
82,536 

 

 
60,939 

 

 
48,346 

Asia Pacific

 

 
94,867 

 

 
56,532 

 

 
29,360 

Total

 

$
513,400 

 

$
353,633 

 

$
230,423 

 

The Company’s revenue from unaffiliated customers by type is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

2013

 

2012

 

2011

Printers and other products

 

$
227,627 

 

$
126,798 

 

$
66,665 

Materials

 

 
128,405 

 

 
103,182 

 

 
70,641 

Services

 

 
157,368 

 

 
123,653 

 

 
93,117 

Total revenue

 

$
513,400 

 

$
353,633 

 

$
230,423 

 

Intercompany sales were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2013

 

 

Intercompany Sales to

(in thousands)

 

United States

 

Germany

 

Other Europe

 

Asia Pacific

 

Total

United States

 

$

—

 

$
23,100 

 

$
15,622 

 

$
5,438 

 

$
44,160 

Germany

 

 
1,825 

 

 

—

 

 
4,135 

 

 

—

 

 
5,960 

Other Europe

 

 
26,862 

 

 
1,688 

 

 
2,090 

 

 
566 

 

 
31,206 

Asia Pacific

 

 
1,659 

 

 
641 

 

 
67 

 

 
1,431 

 

 
3,798 

Total

 

$
30,346 

 

$
25,429 

 

$
21,914 

 

$
7,435 

 

$
85,124 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2012

 

 

Intercompany Sales to

(in thousands) 

 

United States

 

Germany

 

Other Europe

 

Asia Pacific

 

Total

United States

 

$

—

 

$
6,823 

 

$
4,153 

 

$
1,044 

 

$
12,020 

Germany

 

 
197 

 

 

—

 

 
2,205 

 

 

—

 

 
2,402 

Other Europe

 

 
4,812 

 

 
26 

 

 
255 

 

 
38 

 

 
5,131 

Asia Pacific

 

 
195 

 

 

—

 

 

—

 

 

—

 

 
195 

Total

 

$
5,204 

 

$
6,849 

 

$
6,613 

 

$
1,082 

 

$
19,748 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2011

 

 

Intercompany Sales to

(in thousands)

 

United States

 

Germany

 

Other Europe

 

Asia Pacific

 

Total

United States

 

$

 —

 

$
17,634 

 

$
10,213 

 

$
3,984 

 

$
31,831 

Germany

 

 
372 

 

 

—

 

 
3,523 

 

 

—

 

 
3,895 

Other Europe

 

 
13,388 

 

 
9 

 

 
118 

 

 

—

 

 
13,515 

Asia Pacific

 

 
18 

 

 
4 

 

 

—

 

 

—

 

 
22 

Total

 

$
13,778 

 

$
17,647 

 

$
13,854 

 

$
3,984 

 

$
49,263 

 

Income from operations was as follows:

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

2013

 

2012

 

2011

Income from operations:

 

 

 

 

 

 

 

 

 

United States

 

$
43,743 

 

$
37,743 

 

$
19,045 

Germany

 

 
302 

 

 
1,305 

 

 
1,509 

Other Europe

 

 
7,849 

 

 
5,415 

 

 
6,645 

Asia Pacific

 

 
30,499 

 

 
16,528 

 

 
7,152 

Subtotal

 

 
82,393 

 

 
60,991 

 

 
34,351 

Inter-segment elimination

 

 
(1,532)

 

 
(420)

 

 
551 

Total

 

$
80,861 

 

$
60,571 

 

$
34,902 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

2013

 

2012

 

2011

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

United States

 

$
21,826 

 

$
17,049 

 

$
7,666 

Germany

 

 
961 

 

 
178 

 

 
234 

Other Europe

 

 
4,410 

 

 
2,983 

 

 
2,475 

Asia Pacific

 

 
3,247 

 

 
1,019 

 

 
718 

Total

 

$
30,444 

 

$
21,229 

 

$
11,093 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

2013

 

2012

 

2011

Capital expenditures:

 

 

 

 

 

 

 

 

 

United States

 

$
5,166 

 

$
2,177 

 

$
1,964 

Germany

 

 
21 

 

 
49 

 

 
6 

Other Europe

 

 
1,171 

 

 
857 

 

 
896 

Asia Pacific

 

 
614 

 

 
141 

 

 
4 

Total

 

$
6,972 

 

$
3,224 

 

$
2,870 

 

 

 

 

 

 

 

 

 

(in thousands)

 

2013

 

2012

Assets:

 

 

 

 

 

 

United States 

 

$
870,208 

 

$  
501,157 

Germany 

 

 
38,685 

 

 
24,264 

Other Europe 

 

 
120,562 

 

 
86,494 

Asia Pacific 

 

 
68,401 

 

 
65,527 

Total

 

$
1,097,856 

 

$
677,442 

 

 

 

 

 

 

 

 

 

(in thousands)

 

2013

 

2012

Cash and cash equivalents:

 

 

 

 

 

 

United States 

 

$
286,377 

 

$  
132,890 

Germany 

 

 
3,441 

 

 
5,846 

Other Europe 

 

 
8,915 

 

 
10,247 

Asia Pacific 

 

 
7,583 

 

 
6,876 

Total

 

$
306,316 

 

$
155,859 

 

 

 

 

 

 

 

 

 

(in thousands)

 

2013

 

2012

Long-lived assets:

 

 

 

 

 

 

United States 

 

$
426,221 

 

$  
278,590 

Germany 

 

 
23,134 

 

 
10,142 

Other Europe 

 

 
71,269 

 

 
51,029 

Asia Pacific 

 

 
50,377 

 

 
50,243 

Total

 

$
571,001 

 

$
390,004