Proto Labs (PRLB) Tops Q2 EPS by 23c, Revenues Beat

Proto Labs (NYSE: PRLB) reported Q2 EPS of $0.59, $0.23 better than the analyst estimate of $0.36. Revenue for the quarter came in at $106.6 million versus the consensus estimate of $100.46 million.

Second Quarter 2020 Highlights include:

• Revenue for the second quarter of 2020 was $106.6 million, representing an 8.1 percent decrease compared to revenue of $115.9 million in the second quarter of 2019.
• Net income for the second quarter of 2020 was $12.6 million, or $0.47 per diluted share.
• Non-GAAP net income was $15.9 million, or $0.59 per diluted share.

“The first half of 2020 has presented a great deal of challenges to all businesses, and Protolabs is no exception. We have a solid financial foundation, a healthy balance sheet, and resilient business model to weather the uncertain environment,” said Vicki Holt, President and Chief Executive Officer of Protolabs. “The COVID-19 pandemic provides an opportunity for Protolabs to demonstrate the value our digital business model can provide. During the quarter, we delivered over 8 million parts to support the medical industry, generating $12 million in revenue. Our dynamic digital manufacturing business model, and our agile and creative employees, will allow us to thrive as customer activity begins to re-accelerate.”

For earnings history and earnings-related data on Proto Labs (PRLB) click here.

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