- Sigma
announcement outlines operational, financial highlights
- Management
calls 2019 “milestone year” and believes that SGLB technology is on
forefront of next industrial revolution
- Company
anticipates seeing continued momentum from both end users and additive
manufacturing machine OEMs
Sigma Labs (NASDAQ: SGLB), a leading developer of
quality-assurance software for the commercial 3D-printing industry, announced
its financial and operational results for Q4 and fiscal year ending December
31, 2019 (http://ibn.fm/A6ck8).
The announcement outlined several key highlights for the
company, including entering into a joint sales agreement with Materialise,
being awarded Phase 2 test and evaluation program status from different
manufacturers and being selected by a major international OEM machine
manufacturer to integrate Sigma’s exclusive PrintRite3D(R) quality-assurance
software program as part of an evaluation process for a broader rollout.
“2019 was a milestone year for Sigma Labs, as we
transitioned from an R&D-focused company into a full-fledged commercial
enterprise, complete with a validated, user-friendly product with customers who
are some of the largest industrial companies in the world and in the top
echelon of additive manufacturing OEMs,” SGLB executive chairman Mark Ruport
stated in a news release. “I am particularly proud of our recently announced
joint sales agreement with Materialise, a leading provider of additive
manufacturing software and 3D-printing solutions, to commercialize our newly
integrated PrintRite3D quality-assurance technology within the Materialise
control platform. I continue to see intense interest from industry players of
every size, proving the absolute value inherent to our technology.”
The announcement mentioned additional highlights for the
quarter, which included being selected by a major Japanese OEM machine tool
manufacturer for a test and evaluation program of PrintRite3D Real Time Melt
Pool Analytics and being awarded several key contracts, including a contract to
implement PrintRite3D in collaboration with university research centers at the
Northwestern University, a contract with the Mississippi State University
Center for Advanced Vehicular Systems, and a contract with the VTT Technical
Centre of Finland to install PrintRite3D at the VTT 3DMetalprint Centre for
Additive Manufacturing.
Year-end highlights included being chosen by Airbus to
deploy the PrintRite3D version 5.0 product into a laser powder bed printer as
part of a testing and evaluation program, launching the breakthrough version
5.0 quality-assurance software at the RAPID+TCT 3D Printing and
Additive Manufacturing Conference and realizing third-party validation of its
PrintRite3D software through a Defense Advanced Research Project Agency
research study conducted in collaboration with Honeywell Aerospace.
“Sigma is truly on the forefront of the next industrial
revolution, addressing a major cost headwind to allow additive manufacturing
technology to further scale and revolutionize many industries,” added Ruport,
who noted that, given the COVID-19 crisis, Sigma’s principal commitments are to
its employees, shareholders and customers. “We continue to see momentum from
both end users, who constantly serve as a reminder of the value of our
technology, and from additive manufacturing machine OEMs, who see inherent
value in integrating PrintRite3D into their machines. Revenues from either of
these avenues could build rapidly, but more importantly could provide for a
repeatable revenue stream with exceptional gross margins.”
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. SGLB’s advanced, computer-aided software product
revolutionizes commercial additive manufacturing, enabling nondestructive
quality assurance mid-production, uniquely allowing errors to be corrected in
real time.
For more information about Sigma Labs, please visit www.SigmaLabsInc.com
NOTE TO INVESTORS: The latest news and updates
relating to SGLB are available in the company’s newsroom at http://ibn.fm/SGLB
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