Sigma Labs (NASDAQ: SGLB), a leading developer of quality assurance software for the commercial 3D printing industry, on Thursday reported its financial and operational results for the third quarter ended September 30, 2019. Among other highlights, the company reported revenue for the third quarter of $171,003, a significant increase compared to $128,593 for the same period in 2018. On Thursday, Sigma Labs Chairman and CEO John Rice and CFO Frank Orzechowski hosted a conference call to discuss the results for the third quarter. A replay of the conference call is available through November 28, 2019. To listen to the replay, dial 1-844-512-2921 for the toll-free line or 1-412-317-6671 for the international line and use the replay ID: 13695352. “The foundation building for our PrintRite3D commercial launch has largely been completed from a financial perspective in the third quarter of 2019,” Sigma Labs chief financial officer Frank Orzechowski stated in the news release. “Notable improvements to our sales infrastructure and channels have been made that resulted in several new RTE programs which can be seen in our growing inventory metric and why we thought it was important to articulate the multiple revenue opportunities currently underway with licensing partners and end-users. Moreover, in the fourth quarter, the pipeline of verbally committed and or signed purchase orders in the channel currently totals $1.2 million. I am also happy to report that we are in active negotiations with OEM partners for strategic alternatives who currently see the immense value in our enterprise and look forward to providing an update on that front as they develop.”
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About Sigma Labs
Sigma Labs, Inc. (NASDAQ: SGLB) is an emerging provider of quality assurance software to the commercial 3D printing industry under the PrintRite3D® brand. Founded in 2010, Sigma is a software company that specializes in the development and commercialization of real-time computer aided inspection (“CAI”) solutions known as PrintRite3D® for 3D advanced manufacturing technologies. Sigma Labs’ advanced computer-aided software product revolutionizes commercial additive manufacturing, enabling non-destructive quality assurance mid-production, uniquely allowing errors to be corrected in real-time. For more information, please visit www.SigmaLabsInc.com.
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