Welcome to our dedicated page for Proto Labs news (Ticker: PRLB), a resource for investors and traders seeking the latest updates and insights on Proto Labs stock.
Proto Labs, Inc. reports company developments tied to its digital manufacturing services for custom parts, from prototyping through end-use production. Protolabs serves product developers, engineers, procurement teams, and supply chain groups through capabilities that include CNC machining, injection molding, 3D printing, and sheet metal fabrication, using its own manufacturing facilities and a network of manufacturing partners.
Recurring PRLB news includes quarterly financial results, service-line performance such as CNC machining, margin and cash-flow commentary, product and platform updates such as ProDesk, aerospace manufacturing capabilities, industry research on digital adoption and artificial intelligence, investor conference participation, and leadership-team changes. Company updates also describe strategic priorities around customer experience, innovation, production capacity, and operating efficiency.
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Protolabs (NYSE: PRLB) announced a $50 million increase in its stock repurchase program, raising the total to $150 million. As of December 7, 2021, $87 million had already been repurchased, leaving $63 million available. The expiration date for the program is set for December 31, 2023. The company seeks to utilize the remaining funds based on market conditions, while maintaining its focus on organic investments, R&D, and potential strategic acquisitions.
Protolabs (NYSE: PRLB) has appointed Stacy Greiner to its Board of Directors, effective November 15. Greiner, previously the Chief Marketing Officer at Dun & Bradstreet, brings extensive experience in sales and marketing strategy. Her leadership roles at companies like Cisco and IBM will enhance Protolabs' focus on digital manufacturing growth. Chairman Archie Black noted that Greiner's appointment aligns with the company’s strategic initiatives, including launching a new e-commerce platform and acquiring Hubs.
Protolabs (NYSE: PRLB) announced the resignation of Chief Financial Officer John Way, effective November 30, 2021, to pursue another opportunity. Dan Schumacher, who has been with the company for four years and has led investor relations and FP&A, will assume the role of Interim CFO starting December 1, 2021. Protolabs' President and CEO, Rob Bodor, praised Way's contributions, highlighting the strong financial organization he built during his seven-year tenure. The transition aims to maintain stability as Schumacher collaborates with both Way and Bodor in the coming month.
Proto Labs reported record revenue of $125.3 million for Q3 2021, marking a 16.6% increase year-over-year. The company achieved a net income of $4.8 million, or $0.17 per diluted share, while non-GAAP net income reached $9.7 million, or $0.35 per diluted share. The gross margin stood at 44.1%, with a cash balance of $83.9 million. Despite challenges from global supply chain issues, Proto Labs continues to invest in long-term growth opportunities and was recognized by the World Economic Forum as part of the Global Lighthouse Network.
Protolabs, a global leader in digital manufacturing, has signed an agreement to expand its operations in location value="LU/us.nc.raleig"Raleigh, N.C.. The new facility will span 120,000 sq. ft. and is set to meet the rising demand for 3D printing services. This expansion reflects Protolabs' strong growth in additive manufacturing applications for prototyping and production. Groundbreaking is scheduled for later this month, with expected occupancy by late 2022. The company collaborates with Capital Associates for this development.
Protolabs (NYSE: PRLB) is set to announce its financial results for Q3 2021 on October 28, 2021, before market opening. A conference call will follow at 8:30 a.m. EDT to discuss the results, accessible via phone and webcast. Protolabs is recognized as a leader in digital manufacturing, offering services like injection molding, CNC machining, and 3D printing. Their efficient production capabilities enable rapid product development for customers worldwide.
Protolabs has been recognized by the World Economic Forum as one of only ten U.S. companies inducted into the Global Lighthouse Network for its leadership in implementing Fourth Industrial Revolution technologies at its Plymouth, Minnesota facility. This induction highlights Protolabs' shift from a prototype provider to a full production provider, enabling production lead times as quick as one day. The company's advancements include automated design processes and digital controls, enhancing sustainability and efficiency in manufacturing.
Protolabs (NYSE: PRLB), a leader in digital manufacturing services, will present at the William Blair’s Annual “What's Next for Industrials?" Conference on September 24, 2021, at 11 a.m. EDT. CEO Rob Bodor and CFO John Way will engage in a virtual fireside chat. Interested individuals can contact their William Blair representative to access the live presentation, and a replay will be available on Protolabs' investor relations website after the event. Protolabs specializes in injection molding, CNC machining, 3D printing, and sheet metal fabrication.
Protolabs has appointed Alex Cappy as the new Vice President and CEO of Hubs, effective October 1. Previously, Cappy served as Chief Operations Officer at Hubs, ensuring efficient order fulfillment and overseeing a manufacturing partner network. Her predecessor, Bram de Zwart, will now lead innovation at Hubs. With Cappy at the helm, Protolabs aims to strengthen its position in the digital manufacturing sector, leveraging Hubs’ capabilities and its vast manufacturing network.