This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Proto Labs Reports Second Quarter 2012 Financial Results

Proto Labs, Inc. (NYSE:PRLB), a leading online and technology-enabled quick-turn manufacturer, today announced its financial results for the second quarter and the first six months ended June 30, 2012.

Highlights include:

  • Revenue for the second quarter of 2012 increased to $30.0 million, 25 percent above revenue of $24.1 million in the second quarter of 2011. US revenue increased 26 percent to $23.9 million and European revenue increased 16 percent to $5.1 million in the second quarter of 2012 compared to the second quarter of 2011.
  • For the first six months of 2012, revenue increased to $59.9 million, or 29 percent above revenue of $46.4 million during the first six months of 2011.
  • During the first six months of 2012, revenue from 1,507 new customer companies totaled $7.4 million and revenue from 3,858 existing customer companies totaled $52.5 million.
  • Net income during the second quarter of 2012 totaled $5.1 million, or $0.20 per share. After adding back the after-tax expense of stock compensation, non-GAAP net income was $5.7 million, or $0.23 per share. See “Non-GAAP Financial Measure” below.

“Our continuing revenue growth reflects the growing adoption of our Protomold and Firstcut services,” said Brad Cleveland, President and CEO of Proto Labs. “Our strong second quarter financial results were achieved despite macro-environment headwinds and demonstrate the robustness of our global, diversified, technology-enabled business and the benefits of a very broad customer base.”

Additional highlights include:

  • Gross margin was 59.1 percent of revenue in the second quarter of 2012 compared with 60.4 percent in the second quarter of 2011.
  • During the second quarter of 2012, spending on research and development, including the Protoworks initiatives, totaled $2.4 million, or 8.0 percent of revenue. This compares to $1.7 million, or 5.5 percent of revenue during the first quarter of 2012.
  • Operating margin was 24.9 percent of revenue compared with 27.6 percent in the second quarter a year ago.
  • Cash generated from operations totaled $11.5 million in the first six months of 2012 compared to $10.4 million during the same period in 2011.
  • Expenditures on capital equipment were $12.7 million in the first half of 2012.

“Our world-class team continues to focus on acquiring new customers, growing our business with existing customers and expanding our services. We are working to continuously improve what is already the fastest and most-efficient low-volume custom manufacturing service in the world, and we’ve clearly just begun to scratch the surface of a global opportunity,” concluded Mr. Cleveland.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs