3D Systems announced on Monday that Intermountain 3D’s revenue is up 120 percent thanks to the addition of 3D Systems’ Selective Laser Sintering printers.
Founded in 2014, Intermountain 3D made a decision recently to add 3D Systems’ SLS printers to its portfolio in a bid to provide prototype products to its customers and to expand its service offerings.
Intermountain 3D are resellers of a number of 3D Systems’ 3D printing technology–including printers and scanning products–with its complete portfolio includes services from prototyping to low-volume production applications.
“We’ve experienced tremendous growth in our business through the assistance of 3D Systems,” Lynn Hoffmann, CEO of Intermountain 3D said in the press release. “The demand for production SLS printing in our market continues to increase.”
Hoffmann said that the company witnessed increased requests that went beyond prototyping and that its customers were keen to understand the process of designing for additive manufacturing.
Intermountain 3D has a customer base who are into multiple verticals, from those who produce virtual reality equipment to those who produce human prosthetics. Some of Intermountain 3D clients include bronze sculptures, food processing equipment and those who manufacture recreational technological products.
While Hoffmann suggested that its customers are looking to expand into 3D printing for production, Intermountain 3D itself offers in-house printing capabilities for those clients who don’t have an 3D printer of their own.
It was noted by 3D Systems that to meet the peak demands and to offer full services to its clients at all times, Intermountain outsources some parts to 3D Systems’ on demand manufacturing.
3D Systems said that the SLS printers are complemented by the production grade nylon materials from DuraForm which enables Intermountain 3D to produce durable parts at an lower cost of operation.
“We are pleased to see Intermountain 3D mature their customer offering,” Phil Schultz, senior vice president of 3D Systems said in the release. “By redefining, enhancing and expanding their own workflow with our additive manufacturing capabilities, Intermountain 3D is able to help its customers grow as well.”
Following the announcement, 3D Systems jumped three percent to close the trading session on Monday at US$15.45.
3D Systems has a buy ranking on TradingView with 14 verticals in favour, 10 neutral and two against.
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Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.