Proto Labs 1Q profit rises

  • Updated: May 1, 2014 - 9:33 PM

Proto Labs Inc. beat first-quarter earnings expectations by 2 cents a share Thursday.

The Maple Plain-based injection molding firm, which specializes in quick turnaround of parts, reported adjusted earnings of 41 cents a share, beating analysts’ expectation of 39 cents. Net profit was $10.1 million, or 39 cents a share, compared with year-ago earnings of $8.3 million, or 32 cents a share.

Revenue of $46.1 million, up 23 percent, essentially met Wall Street’s expectation of $46.7 million.

The company’s stock seesawed through the day and closed down $1.70, or 2.8 percent, to $58.84.

Last week, Proto Labs opened a $19 million manufacturing plant in Plymouth while also announcing that it had acquired a Raleigh, N.C., 3-D printing firm that will add $10 million to its annual sales.

Steve Alexander

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