Insiders Are Bailing On Proto Labs For Good Reasons
Keubiko • 33 Comments
Keubiko • 33 Comments
Thu, Apr. 28, 12:46 PM
Thu, Mar. 3, 5:33 PM
- Apartment REIT UDR is up 2.1% after hours as it's headed into the S&P 500 from a previous spot on the MidCap 400.
- The firm will replace Keurig Green Mountain (NASDAQ:GMCR) after the close tomorrow, following Keurig's successful acquisition by JAB Holding. Meanwhile, SmallCap 600 constituent Healthcare Realty Trust (HR +0.8%) takes UDR's spot in the MidCap 400.
- Moving down the chain, Proto Labs (PRLB +0.7%) will replace Healthcare Realty Trust in the SmallCap 600. It's up 4.3% after hours.
- Previously: Coffee giant takes control of Keurig Green Mountain (Mar. 03 2016)
Thu, Feb. 4, 1:39 PM
- Having gone into earnings just $1.25 above a 52-week low of $51.61, Proto Labs (NYSE:PRLB) is soaring after issuing light Q1 guidance and in-line 2016 guidance to go with a Q4 beat.
- The industrial custom parts maker guided on its earnings call for Q1 revenue of $72M-$76M and EPS of $0.43-$0.48 vs. a consensus of $76M and $0.51. However, 2016 revenue is expected to be up 25%-30% Y/Y; consensus is for revenue to rise 26% to $333.8M.
Top-line performance: Q4 sales benefited from $5.1M in revenue produced by recently-acquired German 3D printing service provider Alphaform. Excluding Alphaform, Y/Y sales growth was 22.5% (25% exc. forex) rather than the official 32%. Injection molding revenue +23% Y/Y to $43.9M, CNC machining +19% to $19.6M; legacy 3D printing +69% to $6.6M, with Alphaform contributing another $2.5M.
U.S. revenue +21.6% to $53.9M; Europe +22.3% to $12.2M; Japan +45.9% to $2.6M. Unique product developers/engineers served rose 21% Y/Y to 12,414.
- Financials: Gross margin fell to 56% from 59.4% in Q3 and 59.9% a year ago - Alphaform hurt GM by 260 bps. GAAP operating expenses rose 31% Y/Y to $24.7M. Proto Labs ended Q4 with $145.6M in cash and no debt.
- Proto Labs' Q4 results, earnings release
Sep. 24, 2015, 7:59 AM
- Proto Labs (NYSE:PRLB) has agreed to acquire select assets and operations of Alphaform, a German 3D printing service provider, expanding its additive manufacturing presence in Europe.
- The planned acquisition will include Alphaform divisions operating in Germany, Finland and the U.K.
- PRLB +1.3% premarket
Jul. 23, 2015, 12:39 PM
- In addition to beating Q2 estimates, Proto Labs (NYSE:PRLB) guided on its earnings call for Q3 EPS of $0.51-$0.55 vs. a $0.52 consensus. The custom parts manufacturer also reiterated its 25% long-term revenue growth target.
- 3D printing (additive manufacturing) services revenue was once more a strong point, rising 86% Y/Y in Q2 to $5.4M (8% of total revenue). Total product developers/engineers served by the company rose 28%.
- Financials: Gross margin fell 150 bps Q/Q and 310 bps Y/Y to 58.7%; forex had an 80 bps impact, and additive services growth a 90 bps impact. GAAP operating expenses rose 21% Y/Y to $20.2M (matches revenue growth). PRLB ended Q2 with $142M in cash/investments, and almost no debt.
- Q2 results, PR
Apr. 24, 2015, 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
Apr. 20, 2015, 10:00 AM
- Believing the market "may be pricing in upside to Street expectations for 2015" and that forex could make such upside challenging (Europe was 22% of Q4 revenue), Needham has downgraded Proto Labs (PRLB -2.2%) to Hold ahead of Thursday morning's Q1 report.
- After trading in a narrow range for two months, Proto Labs had rallied strongly over the last two weeks. Shares trade for 35x 2015E EPS; the 2015 revenue growth consensus is at 24.5%. Tigress Financial provided bullish coverage in March.
Apr. 10, 2015, 3:05 PM
- Today's notable tech gainers include IP licensing firm VirnetX (VHC +6%), custom parts maker Proto Labs (PRLB +4.6%), printing plate/commercial film maker Eastman Kodak (KODK +3.9%), cloud HR software vendor Paylocity (PCTY +3.7%), cloud telecom expense software vendor Tangoe (TNGO +4.2%), and cloud tech support software vendor Support.com (SPRT +6.7%). The Nasdaq is up 0.4%.
- Only a few tech companies are posting major declines. The group includes Chinese online video platform Youku (YOKU -5.7%) and mainframe/high-end server maker Unisys (UIS -3.4%).
- Following a rough 2014, VirnetX is up 34% in 2015; 15.9M shares were shorted as of March 13. Proto Labs has broken out of the narrow range shares have traded in since mid-February. Support.com's gains come a day after the company disclosed a new contract with Comcast. Paylocity is erasing the losses seen yesterday following a BofA downgrade. Kodak is up 13% since posting Q4 results on March 16.
- Youku, quite volatile lately, is giving back a chunk of Wednesday's big gains. Unisys' decline comes ahead of its April 23 Q1 report. On Wednesday, the company announced it's supplying high-end servers and cybersecurity software to NASA through the agency's SEWP V contract (covers multiple suppliers, worth up to $20B over 10 years).
- Previously covered: 3D Systems, Alcatel-Lucent, Nokia, LinkedIn, GoDaddy, FireEye, Turtle Beach, Mavenir/Mitel, Gigamon, Synacor
Mar. 12, 2015, 11:24 AM
Feb. 5, 2015, 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
Feb. 3, 2015, 10:06 AM
- Organovo (ONVO -4.2%), Proto Labs (PRLB -5.4%), and Arcam (OTCPK:AMAVF -4.9%) have joined 3D Systems, ExOne, and Voxeljet in selling off in the wake of Stratasys' Q4/2014 warning and light 2015 guidance.
- Proto Labs is far from a 3D printing pure-play - the company is a custom-parts maker for industrial prototyping, one that supports 3D printing and other manufacturing techniques. Organovo, as a developer of 3D-printed human tissues, is a very different kind of 3D printing firm than the printer makers.
- Proto Labs' Q4 report arrives on Thursday morning.
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. 16, 2014, 10:22 AM
Oct. 3, 2014, 12:11 PM| Oct. 3, 2014, 12:11 PM
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. 1, 2014, 12:02 PM
- 3D Systems (DDD +14.2%), Stratasys (SSYS +7.3%), Voxeljet (VJET +27.6%), ExOne (XONE +17.9%), Proto Labs (PRLB +11.7%), Camtek (CAMT +9.1%), and Organovo (ONVO +6.5%) are all taking off as heavily-shorted tech names rally for the second day in a row.
- 34% of 3D Systems' float was shorted as of June 13. The figure is 15% for Stratasys, 16% for Voxeljet, 32% for ExOne, 12% for Proto Labs, 5% for Camtek, and 26% for Organovo.
- Also: 3D Systems has canceled a Pac Crest conference presentation. However, Pac Crest says this was simply because 3D didn't have enough execs to attend.
Proto Labs, Inc. is a technology enabled company, which provides source for custom prototypes and low-volume production parts. It is an online and technology-enabled manufacturer of quick-turn computer numerical control machined and injection molded custom parts for prototyping and short-run... More
Sector: Industrial Goods
Industry: Machine Tools & Accessories
Country: United States
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