Nano Dimension Reports Preliminary Results for First Quarter 2020
April 10 2020 - 7:00AM
Nano Dimension Ltd.
(Nasdaq, TASE: NNDM),
a leading Printed Electronics/Additively Manufactured
Electronics (PE/AME) provider, today announced
selected preliminary unaudited estimates of its financial results
for the quarter ended March 31, 2020. Nano Dimension expects
unaudited revenues of approximately $700,000 for the first quarter
of 2020, compared to $1,689,000 reported for the first quarter of
2019, and approximately $4,500,000 of cash reserves as of March 31,
2020, with no debt.
“The analysis of our results on the background
of the Covid-19 events paints an interesting picture,” said Yoav
Stern, Nano Dimension’s President and Chief Executive Officer. “It
is clear that two sales transactions of DragonFly LDM machines that
were expected to close in China in the first quarter of 2020 were
disrupted as the country was then at the climax of its crisis. We
hope to see these transactions reemerging now that China is
recovering. In Europe, as the situation in the world deteriorated,
the buyer of one machine tried to considerably reduce its committed
payment, so Nano Dimension canceled the transaction.”
“In summary, possibly barring the pandemic
eruption in Q1, we would have been above our original budget for
Q1/2020. Moreover, moving forward, we intend to leverage the recent
trends instigated by the Covid-19 events. Electronic industry
giants in the western world are already looking to shorten the
supply chains and bring back production to the United States and
Europe. We believe we are positioned in a fortunate place, where
our DragonFly LDM digital prototyping fabrication machines are a
solution for a fast-to-market, economical and ecologically friendly
solution to complement or replace low-cost manufacturers in Asia.
Our shorter time to market, economically efficient solutions for
short production runs, and the ability to protect IP and electronic
designs in-house are an important value proposition for customers
who need to detach themselves from a destructive dependency solely
on offshore suppliers.”
About Nano Dimension
Nano Dimension (Nasdaq, TASE: NNDM) is a
provider of intelligent machines for the fabrication of
Additively Manufactured Electronics (AME). High fidelity active
electronic and electromechanical subassemblies are integral
enablers of autonomous intelligent drones, cars,
satellites, smartphones, and in vivo medical devices. They
necessitate iterative development, IP safety, fast time-to-market
and device performance gains, thereby mandating AME for in-house,
rapid prototyping and production. Nano Dimension machines
serve cross-industry needs by depositing proprietary consumable
conductive and dielectric materials simultaneously, while
concurrently integrating in-situ capacitors, antennas, coils,
transformers and electromechanical components, to function at
unprecedented performance. Nano Dimension bridges the gap between
PCB and semiconductor integrated circuits. A revolution at the
click of a button: From CAD to a functional high-performance AME
device in hours, solely at the cost of the consumable
materials.
For more information, please
visit www.nano-di.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as “expects,”
“anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates”
and similar expressions or variations of such words are intended to
identify forward-looking statements. For example, Nano Dimension is
using forward-looking statements in this press release when it
discusses its expected results for the first quarter of 2020,
transactions reemerging now that China is recovering, how it
intends to leverage the recent trends instigated by the Covid-19
events, its belief that it is positioned in a fortunate place,
where its DragonFly LDM digital prototyping fabrication machines
are a solution for a fast-to-market, economical and ecologically
friendly solution to complement or replace low-cost manufacturers
in Asia. Because such statements deal with future events and are
based on Nano Dimension's current expectations, they are subject to
various risks and uncertainties. Actual results, performance or
achievements of Nano Dimension could differ materially from those
described in or implied by the statements in this press release.
The forward-looking statements contained or implied in this press
release are subject to other risks and uncertainties, including
those discussed under the heading “Risk Factors” in Nano
Dimension’s annual report on Form 20-F filed with the Securities
and Exchange Commission (“SEC”) on March 10, 2020, and in any
subsequent filings with the SEC. Except as otherwise required by
law, Nano Dimension undertakes no obligation to publicly release
any revisions to these forward-looking statements to reflect events
or circumstances after the date hereof or to reflect the occurrence
of unanticipated events. References and links to websites have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
Nano Dimension is not responsible for the contents of third-party
websites.
NANO DIMENSION INVESTOR RELATIONS
CONTACTYael Sandler, CFO | ir@nano-di.com
Nano Dimension (NASDAQ:NNDM)
Historical Stock Chart
From Aug 2024 to Sep 2024
Nano Dimension (NASDAQ:NNDM)
Historical Stock Chart
From Sep 2023 to Sep 2024