Sigma Labs Inc. CEO Discusses Corporate Milestones, Leveraging First-Mover Advantage in 3D Metal Printing Industry
NEW YORK, June 16, 2020 (GLOBE NEWSWIRE) -- via NetworkNewsAudio — Sigma Labs Inc. (NASDAQ: SGLB) today announces that its president and CEO, Mark Ruport, has been featured in an exclusive audio interview with NetworkNewsWire (“NNW”), a financial news and content distribution company and one of 45+ brands in the InvestorBrandNetwork (“IBN”). During the interview, Ruport discussed the highlights of Sigma’s first quarter financial results, as well as providing an update on the company’s latest corporate milestones in the wake of the COVID-19 pandemic and offering a forecast for the industry moving forward.
The broadcast can be heard at The NetworkNewsAudio Interviews Podcast.
Ruport started the interview by recapping Sigma Labs’ first quarter results, which included its introduction of a commercialized product resulting in the company’s first quarter of revenue generation.
In addition to its commercialization efforts, Ruport noted that Sigma remains committed to protecting its competitive advantage in the 3D printing industry. “We were awarded two patents in the first quarter,” he stated. “Part one of our strategy has been to protect our intellectual property and our position of leadership as first-mover in this market with a strong patent portfolio.”
That strong intellectual property portfolio played a key role in Ruport’s decision to join the company in December 2019 as its executive chairman. “The reason that I was attracted to the company was because of the opportunity that we have to have a dramatic impact on additive manufacturing and the face of manufacturing around the world,” he noted. “Our patents protect us and provide us that first-mover advantage in that marketplace.”
When explaining why Sigma Labs is so uniquely positioned in the rapidly developing 3D printing space, Ruport highlighted the company’s three-pronged approach to ensuring market penetration.
“When we look at the market, we look at several segments. The first segment is the university and research and development segment, because that segment of the market is generating the future manufacturing leaders of tomorrow.”
In the first quarter of 2020, Sigma Labs demonstrated its commitment to this segment through its entry into contracts with Northwestern University and Mississippi State University, both of which have advanced manufacturing programs. The company has also entered into agreements with multiple research and development organizations throughout Europe.
“The second milestone, which we expect to happen in the next quarter or two, is signing OEM agreements with major printer manufacturers and having those printer manufacturers designate their printers as ‘PrintRite’ ready,” he continued. “That allows us to go to the third component of that customer base, which are the end-users… and position ourselves as the de facto standard for quality assurance across multiple printers from multiple manufacturers.”
“The need for standardization within 3D metal printing is significant, because of the variables that are in play during the printing process,” Ruport said. “The only way that the end-user can certify that the end product that they’re manufacturing meets the demands of the original design is to have a consistent quality assurance process across all those printer types.”
Please listen to the full interview with Sigma President and CEO Mark Ruport at http://nnw.fm/8kP0Y.
About Sigma Labs Inc.
Sigma Labs Inc. (NASDAQ: SGLB) is a leading provider of quality assurance software to the commercial 3D metal printing industry under the PrintRite3D® brand. Sigma specializes in the development and commercialization of real-time monitoring solutions known as PrintRite3D® for 3D metal advanced manufacturing technologies. PrintRite3D detects and classifies defects and anomalies real-time during the manufacturing process and informs the production manager of quality issues. Sigma Labs' software product is a major catalyst for the acceleration and adoption of 3D metal printing. For more information, please visit www.sigmalabsinc.com.
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This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Released June 16, 2020