MINNEAPOLIS, Jan 19, 2010 (BUSINESS WIRE) -- Stratasys,
Inc. (Nasdaq: SSYS), the leading manufacturer of 3D printers and 3D
production systems, today announced it has signed a definitive agreement
with HP for Stratasys to manufacture an HP-branded 3D printer. Used by
product designers and architects, Stratasys 3D printers create
three-dimensional plastic models directly from 3D digital designs.
Under the terms of the agreement, Stratasys will develop and manufacture
for HP an exclusive line of 3D printers based on Stratasys' patented
Fused Deposition Modeling (FDM) technology. HP will begin a phased
rollout of the 3D printers in the mechanical design (MCAD) market in
selected countries later this year, with the right to extend
distribution globally.
"We believe the time is right for 3D printing to become mainstream,"
said Stratasys Chairman and CEO Scott Crump. "We also believe that HP's
unmatched sales and distribution capabilities and Stratasys FDM
technology is the right combination to achieve broader 3D printer usage
worldwide. HP has made a similar move in this market before, capturing a
dominant position in large-format 2D printers. Together we hope to
repeat this success with 3D printers."
"There are millions of 3D designers using 2D printers who are ready to
bring their designs to life in 3D," said Santiago Morera, vice president
and general manager of HP's Large Format Printing Business. "Stratasys
FDM technology is the ideal platform for HP to enter the 3D MCAD
printing market and begin to capitalize on this untapped opportunity."
HP's Graphic Solutions Business - part of the company's $24 billion
Imaging and Printing Group - will execute the distribution agreement. HP
is a leading provider of Designjet and Scitex large-format printing
solutions, Indigo digital solutions for commercial and industrial
printing, inkjet high-speed production solutions and specialty printing
systems.
Stratasys will hold a web cast and conference call on Tuesday, January
19, 2010 at 8:00 a.m. (ET) to discuss the details surrounding this
agreement. The conference call will be available via live web cast on
the Stratasys Web site at www.stratasys.com
under the "Investors" tab or by clicking http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=61402&eventID=2667385.
To participate by telephone, the domestic dial-in number is
866-356-3377, and the international dial-in is 617-597-5392. The access
code is 20329688. Investors are advised to dial into the call at least
ten minutes prior to the start of the call to register. Please note that
the web cast will provide you information via a slide presentation, but
to participate in the Q&A session, you will be required to call in by
telephone.
The web cast will be available for 90 days on the "Investors" page of
the Stratasys website.
Industry Background
Designers and architects that design with CAD (Computer Aided Design)
use 3D printers as peripheral devices to "print" or create a tangible 3D
model from plastic or other material. The model is created directly from
the CAD digital design. The models are used by designers, engineers and
architects to verify the form, fit, and functional characteristics of
their designs prior to committing those designs to production or
construction.
The technology to produce 3D models directly from a digital design has
been commercial for over 20 years, but recent advances in 3D printers
have dramatically reduced their cost, and improved ease-of-use and
reliability. Stratasys introduced its first Dimension 3D printer in
2002, priced under $30,000. Early last year, Stratasys broke the $15,000
barrier with its office-friendly uPrint 3D printer, which fits on a
desktop.
Stratasys is the sales leader in 3D printing. Its printers are based on
patented Stratasys FDM technology. FDM is the only technology to use
high-performance industrial thermoplastics to make prototypes. Click on FDM
Process for a video demonstration of the FDM process.
Stratasys, Inc., Minneapolis, manufactures additive fabrication
machines for prototyping and manufacturing plastic parts under the
brands Fortus 3D Production Systems and Dimension 3D Printers. The
company also operates RedEye On Demand, an online service for part
prototyping and production. According to Wohlers Report 2009, Stratasys
supplied 43 percent of all additive fabrication systems installed
worldwide in 2008, making it the unit market leader for the seventh
consecutive year. Stratasys patented and owns the process known as FDM.(R)
The process creates functional prototypes and manufactured goods
directly from any 3D CAD program, using high-performance industrial
thermoplastics. The company holds more than 250 granted or pending
additive fabrication patents globally. Stratasys products are used in
the aerospace, defense, automotive, medical, business & industrial
equipment, education, architecture, and consumer-product industries.
Online at: www.Stratasys.com
Stratasys, Dimension, uPrint, and Fused Deposition Modeling (FDM) are
registered trademarks of Stratasys, Inc. Other trademarks are property
of their respective owners.
Forward Looking Statements
All statements herein that are not historical facts or that include
such words as "expects," "anticipates," "projects," "estimates,"
"vision," "planning", "believes" or similar words constitute
forward-looking statements covered by the safe harbor protection of the
Private Securities Litigation Reform Act of 1995.Except for the
historical information herein, the matters discussed in this news
release are forward-looking statements that involve risks and
uncertainties.These include statements regarding projected
revenue and income in future quarters; the size of the 3D printing
market; our objectives for the marketing and sale of our Dimension(R)
3D Printers and our FortusTM 3D Production
Systems, particularly for use in direct digital manufacturing (DDM); the
demand for our proprietary consumables; the expansion of our paid parts
service; and our beliefs with respect to the growth in the demand for
our products.Other risks and uncertainties that may affect our
business include our ability to penetrate the 3D printing market; our
ability to achieve the growth rates experienced in preceding quarters;
our ability to introduce, produce and market new materials, such as
ABSplus and ABS-M30, and the market acceptance of these and other
materials; the impact of competitive products and pricing; our timely
development of new products and materials and market acceptance of those
products and materials; the success of our recent R&D initiative to
expand the DDM capabilities of our core FDM technology; and the success
of our RedEyeOnDemandTMand other paid parts
services.Actual results may differ from those expressed or
implied in our forward-looking statements. These statements represent
beliefs and expectations only as of the date they were made. We may
elect to update forward-looking statements, but we expressly disclaim
any obligation to do so, even if our beliefs and expectations change. In
addition to the statements described above, such forward-looking
statements are subject to the risks and uncertainties described more
fully in our reports filed or to be filed with the Securities and
Exchange Commission, including our annual reports on Form 10-K and
quarterly reports on Form 10-Q.
This release is also available on the Stratasys Web site at www.Stratasys.com.
SOURCE: Stratasys, Inc.
Stratasys
Shane Glenn, Director of Investor Relations, 952-294-3416
shane.glenn@stratasys.com
OR
HP Graphics Solutions Business
Jill Peters, 503-391-8742
jill.peters@hp.com
OR
Stratasys
Joe Hiemenz, Public Relations Manager, 952-906-2726
joe.hiemenz@stratasys.com
