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Proto Labs (PRLB)

  • 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
    • Proto Labs (NYSE:PRLB): Q4 EPS of $0.43 beats by $0.01.
    • Revenue of $56.06M (+27.3% Y/Y) beats by $1.63M.
    • Press Release
    | Comment!
  • Wed, Feb. 4, 5:30 PM
  • Tue, Feb. 3, 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.
  • Tue, Jan. 20, 6:26 PM
    • Proto Labs (NYSE:PRLB) will report Q4 and full-year results before the open on Thursday, February 5th. The conference call will begin at 8.30 am ET.
    • Consensus views for Q4 and 2014 are for EPS of $0.42 and $1.73 and revenue of $54.55M (+23.9% Y/Y) and $208.03M (+27.5%), respectively.
    | Comment!
  • Dec. 12, 2014, 6:55 PM
    • With multiples having significantly contracted and industry growth rates remaining strong, Canaccord's Bobby Burleson thinks 2015 will be a much better year for 3D printing stocks than 2014. Buy ratings are reiterated for 3D Systems (NYSE:DDD), Stratasys (NASDAQ:SSYS), Materialise (NASDAQ:MTLS), and Proto Labs (NYSE:PRLB).
    • Burleson considers beaten-down 3D Systems "set up for a nice bounce into CES," given low expectations and "a sharp potential snap back for gross and operating margins in Q4." He also likes the company's "broad technology portfolio and positioning as turn-key provider of the entire 3D printing digital thread," albeit while admitting better execution will be needed for major multiple expansion to happen.
    • Stratasys is deemed "a core long-term holding for investors wanting exposure to 3D printing." However, worries about heavy spending are seen as a near-term headwind.
    • Materialise's recent selloff is viewed as "an opportunity to buy the leading software franchise in 3D printing (roughly 70% of EBITDA from software), and a strong industrial parts businesses that is bucking the slowdown in Europe."  Burleson adds Materialise's medical products could drive upside.
    • Proto Labs is declared to be "unique as a player in the rapid prototyping industry without any reliance on [lumpy] machine sales." New revenue drivers such as liquid silicone rubber (LSR) molding and Fineline additive manufacturing are expected to yield multiple expansion.
  • Dec. 1, 2014, 3:54 PM
    • John A. Way, formerly the CFO of home healthcare service provider Univita, is Proto Labs' (PRLB -3.3%) new CFO.
    • Way replaces Jack Judd, who announced in July he plans to retire by year's end. Proto Labs is selling off on a rough day for high-beta tech names.
    | 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
    | Comment!
  • 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
    | Comment!
  • Oct. 23, 2014, 6:03 AM
    • Proto Labs (NYSE:PRLB): Q3 EPS of $0.44 misses by $0.03.
    • Revenue of $54.57M (+29.9% Y/Y) misses by $1.17M.
    • Press Release
    | Comment!
  • Oct. 16, 2014, 10:22 AM
    • Two weeks after Canaccord upgraded Proto Labs (NYSE:PRLB) to Buy, Stephens has upgraded the custom-parts manufacturer to Overweight.
    • The upgrade arrives ahead of Proto Labs' Oct. 23 Q3 report. Shares have had a rough time since the Q2 report.
    | Comment!
  • Oct. 3, 2014, 12:11 PM
    • Canaccord has upgraded Proto Labs (PRLB +3.7%) to Buy, albeit while keeping its $85 target. The firm calls the recent selloff seen by the custom-parts maker a buying opportunity.
    • Going into today, Proto Labs had fallen 15% from a Sep. 12 intraday high of $80.55. Share are nearly flat YTD.
    | Comment!
  • 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
    | Comment!
  • Jul. 24, 2014, 6:06 AM
    • Proto Labs (NYSE:PRLB): Q2 EPS of $0.45 beats by $0.03.
    • Revenue of $52.9M (+33.1% Y/Y) beats by $1.47M.
    • Press Release
    | Comment!
  • 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.
  • Jun. 20, 2014, 8:48 AM
    • Jefferies assigns a first time Hold rating to Proto Labs (PRLB), stating a positive outlook for its long-term model. The price target has been set to $32.
    | 1 Comment
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Company Description
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.