Optomec Reports Over 100% Growth for Q1 2015
By Business Wire News
By Business Wire News
Optomec, a leading global supplier of production grade additive manufacturing systems for 3D Printed Metals and 3D Printed Electronics, today announced that system orders in the first quarter of 2015 more than doubled compared to the previous year. Greater than 50% of the Q1 bookings were from current Optomec customers who are expanding their 3D additive manufacturing production capacity, including several Fortune 100 companies. Q1 revenues also increased over 100% compared to the previous year and the Company was profitable. The Company maintains a substantial backlog that will ensure continued revenue growth through the remainder of 2015.
Q1 business was split almost equally across the company’s two core product lines for printing structural metals and functional electronics, and came equally from international and domestic customers.
Optomec saw continued adoption of its Aerosol Jet systems for printed electronics with key customers each purchasing multiple high volume production systems for printing conformal antennas and sensors, the fundamental building blocks for the Internet of Things (IoT). The LENS Metal Printing products also experienced growth, including a strategic order for a production workcell to apply 3D wear-resistant coatings for industrial applications.
“We’ve seen very promising signs in our first quarter performance, notably the fact that half of our sales came from existing industrial customers looking to expand production capacity. These repeat orders confirm that our open systems approach to additive manufacturing delivers proven value and ROI in real-world production applications,” said Dave Ramahi, Optomec CEO. Ramahi also noted that active engagements with large consumer electronics and industrial metal working companies will continue to fuel growth.
Optomec is a privately-held, rapidly growing supplier of Additive Manufacturing systems. Optomec’s patented Aerosol Jet Systems for printed electronics and LENS 3D Printers for metal components are used by industry to reduce product cost and improve performance. Together, these unique printing solutions work with the broadest spectrum of functional materials, ranging from electronic inks to structural metals and even biological matter. Optomec has more than 175 marquee customers around the world, targeting production applications in the electronics, energy, life sciences and aerospace industries. For more information about Optomec, visit http://optomec.com.
LENS is a registered trademark of Sandia National Labs;Aerosol Jet is a registered trademark of Optomec.