The
ExOne Company (Nasdaq: XONE) (“ExOne” or the “Company”), a global
provider of three-dimensional (“3D”) printing machines and 3D printed
and other products, materials and services to industrial customers,
announced that its Board of Directors has elected John F. Hartner as
Chief Executive Officer. Mr. Hartner succeeds S. Kent Rockwell, who
retains the role of Chairman of the Board of Directors. Mr. Hartner
joined the Company as Chief Operating Officer in November 2018.
S. Kent Rockwell stated, “John is an outstanding leader and has proven
to be a strong addition to our global leadership team. In his new role,
he will lead the organization in the execution of our strategic
initiatives that focus on profitable growth. These include expanding
binder jetting applications, broadening our machine platform range and
growing our recurring revenue base.”
Prior to joining ExOne, Mr. Hartner led industrial technology companies
around the world for 30 years in the electronics, cleantech, automation
and digital printing industries. For almost half of his career, he lived
and worked in Asia and Europe. In 2017, Mr. Hartner founded Digital
Industrialist LLC, a company that advises and invests in digital
manufacturing businesses. From 2015 to 2017, he served as Chief
Operating Officer of EnvisionTEC, a healthcare 3D printing leader.
Previously, Mr. Hartner had a nearly 15-year career leading business
units of Dover Corporation, rising to the role of President and CEO of
the Dover Printing & Identification Segment. Prior to that, he served in
various leadership roles with FMC Technologies and Rockwell
International. Mr. Hartner received an M.B.A. from the University of
Chicago and a B.S. in Mechanical Engineering from Villanova University.
About ExOne
ExOne is a global provider of 3D printing machines and 3D printed and
other products, materials and services to industrial customers. ExOne’s
business primarily consists of manufacturing and selling 3D printing
machines and printing products to specification for its customers using
its installed base of 3D printing machines. ExOne’s machines serve
direct and indirect applications. Direct printing produces a component;
indirect printing makes a tool to produce a component. ExOne offers
pre-production collaboration and print products for customers through
its network of ExOne Adoption Centers (“EACs”). ExOne also supplies the
associated materials, including consumables and replacement parts, and
other services, including training and technical support that is
necessary for purchasers of its 3D printing machines to print products.
The Company believes that its ability to print in a variety of
industrial materials, as well as its industry-leading volumetric output
(as measured by build box size and printing speed), uniquely position
ExOne to serve the needs of industrial customers.
Safe Harbor Regarding Forward Looking Statements
This news release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act with respect to
the Company’s future financial or business performance, strategies, or
expectations. Forward-looking statements typically are identified by
words or phrases such as “trend,” “potential,” “opportunity,”
“pipeline,” “goal,” “believe,” “comfortable,” “expect,” “anticipate,”
“current,” “intention,” “estimate,” “position,” “assume,” “outlook,”
“continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” as well
as similar expressions, or future or conditional verbs such as “will,”
“would,” “should,” “could” and “may.”
The Company cautions that forward-looking statements are subject to
numerous assumptions, risks and uncertainties, which change over time.
Forward-looking statements speak only as of the date they are made and
the Company assumes no duty to and does not undertake to update
forward-looking statements. Actual results could differ materially from
those anticipated in forward-looking statements and future results could
differ materially from historical performance.
In addition to risk factors previously disclosed in the Company’s
filings with the U.S. Securities and Exchange Commission (the “SEC”),
including its Annual Report on Form 10-K, the following factors, among
others, could cause results to differ materially from forward-looking
statements or historical performance: the Company’s ability to
consistently generate operating profits; fluctuations in the Company’s
revenues and operating results; the Company’s competitive environment
and its competitive position; ExOne’s ability to enhance its current
three-dimensional (“3D”) printing machines and technology and
develop new 3D printing machines; the Company’s ability to qualify
more industrial materials in which it can print; demand for ExOne’s
products; the availability of skilled personnel; the impact of loss
of key management; the impact of market conditions and other factors on
the carrying value of long-lived assets; the Company’s ability to
continue as a going concern; the impact of customer specific terms in
machine sale agreements on the period in which the Company recognizes
revenue; risks related to global operations including effects of foreign
currency; the adequacy of sources of liquidity; the amount and
sufficiency of funds for required capital expenditures, working capital,
and debt service; dependency on certain critical suppliers; nature or
impact of alliances and strategic investments; reliance on critical
information technology systems; the effect of litigation,
contingencies and warranty claims; liabilities under laws and
regulations protecting the environment; the impact of governmental laws
and regulations; operating hazards, war, terrorism and cancellation or
unavailability of insurance coverage; the impact of disruption of the
Company’s manufacturing facilities or EACs; the adequacy of ExOne’s
protection of its intellectual property; and expectations regarding
demand for the Company’s industrial products, operating revenues,
operating and maintenance expenses, insurance expenses and deductibles,
interest expenses, debt levels, and other matters with regard to outlook.
These and other important factors, including those discussed in the
Company’s Annual Report on Form 10-K, may cause the Company’s actual
results of operations to differ materially from any future results of
operations expressed or implied by the forward-looking statements
contained therein. Before making a decision to purchase ExOne common
stock, you should carefully consider all of the factors identified in
its Annual Report on Form 10-K and other SEC filings that could cause
actual results to differ from these forward-looking statements.
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