This Day On The Street
Continue to site
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

Proto Labs Reports Record Revenue And Net Income For The Second Quarter 2013

Proto Labs, Inc. (NYSE: PRLB), a leading online and technology-enabled quick-turn manufacturer, today announced its record financial results for the second quarter ended June 30, 2013.

Highlights include:
  • Revenue for the second quarter of 2013 increased to a record $39.7 million, 33 percent above revenue of $30.0 million in the second quarter of 2012.
  • The record quarterly revenue was achieved through a 22 percent increase in the number of product developers served combined with an increase of 8 percent in spending per product developer.
  • Net income for the second quarter of 2013 increased to a record $8.6 million, or $0.33 per diluted share. Non-GAAP net income, excluding the after tax expense of stock compensation, was $9.3 million, or $0.36 per diluted share. See “Non-GAAP Financial Measure” below.

“This past quarter again demonstrates that product developers value our services. Businesses today compete globally and need to use technology to accelerate their new ideas to the market. As the world’s fastest provider of CNC and injection-molded parts using engineering-grade materials and real manufacturing processes, we are well-placed to benefit from this trend and make product developers more successful,” said Proto Labs’ President and CEO Brad Cleveland.

Additional highlights include:
  • Gross margin was 62.5 percent of revenue in the second quarter of 2013 compared with 59.1 percent during the same quarter in 2012.
  • During the second quarter of 2013, spending on research and development, including the Protoworks initiatives, totaled $2.8 million, or 6.9 percent of revenue. This compares to $2.4 million, or 8.0 percent of revenue during the second quarter of 2012.
  • Operating margin was 31.8 percent of revenue during the second quarter of 2013 compared to 24.9 percent in the second quarter of 2012.
  • Gross margin in the second quarter exceeded the target model for the third consecutive quarter; and for the fourth consecutive quarter, operating margin also exceeded the target model.
  • As measured on a year to date basis, cash generated from operations totaled $19.4 million and expenditures on capital equipment were $6.1 million.

“Our sales and marketing teams dig deeper and wider in our customer base. We are making progress in our R&D efforts to expand the part envelope and services we offer. Our world-wide manufacturing teams stress both productivity and quality and these results are clearly seen in our excellent gross margins. We anticipate that all of these efforts will generate solid growth for our company in future quarters,” 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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.94 -2.00%
FB $118.07 1.10%
GOOG $695.76 0.69%
TSLA $236.69 -4.40%
YHOO $36.65 0.16%


Chart of I:DJI
DOW 17,799.02 +25.38 0.14%
S&P 500 2,069.47 +4.17 0.20%
NASDAQ 4,782.3890 +7.0310 0.15%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs