3D Systems (NYSE:DDD) announced on Thursday after the market closed that it was delaying release of its official fourth-quarter and full-year 2015 results and conference call, which were scheduled for Monday, Feb. 29. The diversified 3D printing company said that the delay in filing its 10-K with the Securities and Exchange Commission (SEC) is due to the completion of work related to the goodwill impairment charge that it previously announced it was taking in the fourth quarter.
3D Systems reiterated the following previously released preliminary fourth-quarter data:
- Expects to take a non-cash goodwill impairment charge – or "writedown" -- of $510 million to $570 million.
- Expects to report revenue of approximately $183 million.
- Will take an approximate $27 million charge related to inventory writedowns and purchase commitments in connection with the discontinuation of its consumer products.
Investors can expect release of the official results by March 15, the deadline allowed by the SEC per the Notification of Late Filing form.
Does it matter?
The news appears to be the lowest on the impact meter -- just market noise -- however, we can't be fully certain until the official results are released.
Delays in SEC filings of quarterly or annual results are oftentimes cause for concern, as they can mean bad news is coming. However, in this case, 3D Systems' delayed filing does not seem worrisome. Since the company reiterated its previously announced preliminary results, there don't seem to be any negative surprises coming. This delay seems reasonable in light of the previous CEO's sudden departure in late October just before the company released its third-quarter results. (The company remains without a permanent CEO.)
Shares of 3D Systems closed up 3.7% on Friday. The stock, which has been battered since early 2014, is down 66% in the last year.
Beth McKenna has no position in any stocks mentioned. The Motley Fool recommends 3D Systems. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.