Fri, Apr. 24, 7:11 PM
- After barely moving in response to its Q1 numbers yesterday, Proto Labs (NYSE:PRLB) sold off today in the wake of downgrades to neutral ratings from Piper and Craig-Hallum. Needham downgraded ahead of the report.
- Though the custom parts maker narrowly beat Q1 revenue estimates and posted in-line EPS, it guided for on its CC (transcript) for Q2 revenue of $61M-$64M and EPS of $0.46-$0.50, below a consensus of $63.4M and $0.49 at the midpoints. Forex is expected to have a $2M impact on sales, up from Q1's $1.75M.
- Proto's North American revenue rose 36% Y/Y in Q1 (23% excluding the FineLine acquisition). Japanese revenue rose 23% (43.5% in constant currency), and European revenue fell 5% (up 10% in constant currency). Unique product developers/engineers served rose 44% to 11K.
- Gross margin fell 280 bps Y/Y to 60.2% - lower additive manufacturing margins had a 110 bps impact, and forex a 220 bps impact. GAAP operating expenses rose 33% to $19.4M (compares with 27% revenue growth).
- Q1 results, PR
Thu, Apr. 23, 6:04 AM
Thu, Feb. 5, 10:33 AM
- Proto Labs (NYSE:PRLB) guided on its Q4 CC (webcast) for Q1 revenue of $56.5M-$59.5M and EPS of $0.43-$0.47 vs. a consensus of $57.8M and $0.47. With forex weighing on results - a $1.5M Q1 impact is expected - and shares having gone into earnings not far from a 52-week low of $54.97, the outlook is being well-received.
- The Q4 beat was driven by a 23% Y/Y increase in North American revenue (excluding the Fineline acquisition). European revenue rose 10% Y/Y and Japanese revenue 25% in local currency; dollar-based growth is presumably lower. 3D printing services revenue (driven by Fineline) rose 48% to $3.9M.
- Gross margin fell to 59.9% from Q3's 60.6% and the year-ago period's 62.7%. Fineline impacted margins, as did manufacturing investments and forex. R&D spend rose 34% to $4.7M, and sales/marketing spend 32% to $8.1M.
- Q4 results, PR
Thu, Feb. 5, 6:01 AM
Wed, Feb. 4, 5:30 PM
- ABB, ADS, AINV, AMSC, APO, ARW, AZN, BCE, BCO, BDC, BDX, BLL, BR, CFX, CHTR, CI, CMI, COTY, CSL, DFT, DLPH, DNKN, EL, EQM, EQT, ETR, FBP, FIS, GLT, GPI, GPK, GRA, GRUB, ICE, IT, IVC, KORS, LAZ, LIOX, LQDT, MDSO, MMP, MMS, MSCI, NGD, NUS, ODFL, OZM, PBH, PM, PPL, PRGO, PRLB, PTEN, RFP, RSTI, SBH, SIRI, SNA, SNCR, SPH, SQNS, TDC, TE, TEVA, TW, USG, UTEK, VLP, VMC, VSH, XYL
Tue, Jan. 20, 6:26 PM| Comment!
Oct. 23, 2014, 9:51 AM
- Proto Labs (NYSE:PRLB) guided on its Q3 CC for Q4 revenue of $53M-$56M, below a $58.7M consensus.
- Both the Q3 miss and the guidance are blamed on weak European sales. North American sales are healthier: They rose 26% Y/Y in Q3, excluding the acquisition of manufacturing services firm FineLine Prototyping.
- Gross margin fell 120 bps Y/Y to 60.6%. GAAP opex rose 41% to $17.6M, exceeding revenue growth of 30%.
- Q3 results, PR
Oct. 23, 2014, 7:08 AM
- Net income of $10.4M, or $0.40 per diluted share vs. $8.9M $0.34 per diluted share in the same quarter a year ago.
- Gross margin was 60.6% of revenue during the quarter vs. 61.8% during the same quarter in 2013. Operating margin was 28.3% of revenue during the quarter vs. 31.9% during the third quarter of 2013.
- Cash, cash equivalents and investments totaled $119M as of September 30.
- Q3 results
Oct. 23, 2014, 6:03 AM
Jul. 24, 2014, 3:49 PM
- Proto Labs (NYSE:PRLB) guided on its Q2 CC (transcript) for Q3 revenue of $54M-$57M and EPS of $0.44-$0.48 vs. a consensus of $54.7M and $0.45.
- The company also announces CFO Jack Judd will be retiring by year's end. A search has begun to find a successor for Judd, who has been CFO since 2011.
- Proto Labs' Q2 revenue came from nearly 8.2K unique product developers (+19% Y/Y). U.S. revenue rose 34%; Europe and Japan grew more slowly.
- Q2 results, PR
Jul. 24, 2014, 6:06 AM
May 1, 2014, 6:19 AM
Feb. 11, 2014, 6:01 AM
Feb. 11, 2014, 12:05 AM
Feb. 10, 2014, 5:30 PM
Feb. 5, 2014, 9:53 AM
- Citing gross margin pressure stemming from an unfavorable mix, along with heavy spending, 3D Systems (DDD -27.4%) now expects to report 2013 EPS of $0.83-$0.87, below prior guidance of $0.93-$1.03 and a $0.96 consensus. Revenue is expected to be in a range of $513M-$514M, in-line with guidance of $500M-$530M but slightly below a $514.2M consensus.
- 3D's full-year guidance implies Q4 EPS of just $0.16-$0.20, far below a $0.30 consensus.
- The company also now expects 2014 revenue of $680M-$720M and EPS of $0.73-$0.85. While the former is above a $671.3M consensus, the latter is below a $1.27 consensus.
- Whereas 3D's gross margin rose 80 bps Y/Y in Q3, it's expected to be down slightly in Q4.
- With the company carrying steep multiples going into today, 3D Systems investors aren't taking the news well. Neither are investors in peers Stratasys (SSYS -12.3%), ExOne (XONE -13.7%), and Voxeljet (VJET -10.1%).
- Other companies occasionally hyped as 3D printing plays are also off sharply: PRLB -6.2%. PRCP -10.7%. CIMT -6.3%.
- 3D's full Q4 results are due on Feb. 28.
PRLB vs. ETF Alternatives
Proto Labs Inc is a manufacturer of custom parts for prototyping and short-run production. It utilizes computer numerical control (CNC) machining and injection molding to manufacture custom parts.
Other News & PR