World News: 11:00 GMT Wednesday 14th August 2019. [Nano Dimension Ltd. via Globe Newswire via SPi World News]
Conference call to be held today at 9:00 a.m. EDT
Nano Dimension reported revenues of $1,161,000 for the second quarter of 2019. The Company ended the quarter with $5,290,000 in cash, while total loss for the second quarter was $1,188,000.
“During the second quarter we made important progress on the product side, and we recently presented the DragonFly LDM Lights-Out Digital Manufacturing system, which augments the capabilities of the DragonFly Pro system with new, proprietary, state-of-the-art technology that enables 24/7 uninterrupted 3D printing of electronics,” said Amit Dror, Chief Executive Officer of Nano Dimension. “Additionally, we presented new and exciting applications, and offered capabilities that have never been seen before in additive manufacturing and the printed electronics world.”
“We are currently focused on increasing our sales and optimizing our expenses, and moving forward we are better armed with our next generation DragonFly LDM system. We proudly continue to lead the field of 3D printed electronics and although the road can be bumpy, we have full confidence in our technology advantages and superiority, and we gain strength from the feedback we receive from our partners and customers,” concluded Mr. Dror.
The Company will host a conference call to discuss these financial results today, August 14, 2019, at 9:00 a.m. EDT (4:00 p.m. IDT). Investors interested in participating are invited to register for the conference call here: http://dpregister.com/10133491. Dial-in numbers, including a local Israeli number and instructions, will be provided upon registration. U.S. Dial-in Number: 1-844-695-5517, International Dial-in Number: 1-412-902-6751, Israel Toll Free Dial-in Number: 1-80-9212373. Please request the “Nano Dimension NNDM call” when prompted by the conference call operator. The conference call will also be webcast live from the Investor Relations section of Nano Dimension’s website at http://investors.nano-di.com/events-and-presentations.For those unable to participate in the conference call, there will be a replay available from a link on Nano Dimension’s website at http://investors.nano-di.com/events-and-presentations.
Nano Dimension is a leading electronics provider that is disrupting, reshaping, and defining the future of how cognitive connected products are made. With its unique 3D printing technologies, Nano Dimension is targeting the growing demand for electronic devices that require increasingly sophisticated features. Demand for circuitry, including PCBs - which are the heart of every electronic device - covers a diverse range of industries, including consumer electronics, medical devices, defense, aerospace, automotive, IoT and telecom. These sectors can all benefit greatly from Nano Dimension’s products and services for rapid prototyping and short-run manufacturing. For more information, please visit www.nano-di.com.
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. Because such statements deal with future events and are based on Nano Dimension’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Nano Dimension could differ materially from those described in or implied by the statements in this press release. For example, Nano Dimension is using forward-looking statements when it discusses the potential of its products and that it is currently focused on increasing sales and optimizing expenses. 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 14, 2019, and in any subsequent filings with the SEC. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: Nano Dimension’s ability to increase sales and revenue, its burn rate, and its ability to continue as a going concern. Based on the projected cash flows and our cash balances as of June 30, 2019, Nano Dimension’s management is of the opinion that without further fund raising it will not have enough resources to enable it to continue advancing its activities for a period of at least 12 months. As a result, there is substantial doubt about Nano Dimension’s ability to continue as a going concern. 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.
Yael Sandler, CFO |
Globe Newswire: 11:00 GMT Wednesday 14th August 2019
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