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Subject:  ExOne (new public 3D Printing Co) Date:  1/28/2013  9:44 PM
Author:  4Foolz Number:  65627 of 78244

ExOne is a small company based in PA that just filed to go public, surely trying to ride the 3D printing craze.

ExOne, a provider of 3D printing machines and printed products to industrial customers, announced terms for its IPO on Monday. The North Huntingdon, PA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, ExOne would command a fully diluted market value of $192 million. ExOne, which was founded in 2003 and booked $19 million in sales for the 12 months ended 9/30/2012, plans to list on the NASDAQ under the symbol XONE.

At the IPO price, they'd be selling at 10+ times sales. The company is not profitable. In fact, their loses keep growing year over year:

We incurred a net loss of approximately $5.2 million and $7.6 million for the years ended December 31, 2010 and 2011, respectively, and had an accumulated deficit of approximately $15.6 million as of December 31, 2011. As shown in the accompanying unaudited condensed consolidated financial statements, we incurred a net loss of approximately $10.7 million for the nine months ended September 30, 2012, and had a working capital deficit of approximately $7.3 million. These conditions raise substantial doubt as to our ability to continue as a going concern. We believe that