10-Q Filing

Proto Labs Inc CIK: 1443669 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-441514`
Period End Date	20120930
Filing Date	20121030
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	prlb-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 76 Cash Flow Statement 57

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$158.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$97.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.29M	USD	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$21.70M	USD	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$250.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $158 and $97 as of September 30, 2012 and December 31, 2011, respectively	`AccountsReceivableNetCurrent`	$15.30M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $158 and $97 as of September 30, 2012 and December 31, 2011, respectively	`AccountsReceivableNetCurrent`	$11.53M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$4.34M	USD	Point-in-time
Inventory	`InventoryNet`	$3.80M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.43M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$932.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$930.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$245.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$82.81M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.08M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$34.25M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$44.46M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	24.30M	shares	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$29.65M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.71M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.30M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.71M	shares	Point-in-time
Total assets	`Assets`	$156.92M	USD	Point-in-time
Total assets	`Assets`	$62.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.43M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$4.77M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$5.52M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$318.00K	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$725.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$33.00K	USD	Point-in-time
Current portion of long-term debt obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$335.00K	USD	Point-in-time
Current portion of long-term debt obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$390.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.73M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$4.25M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$4.25M	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$613.00K	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$401.00K	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$871.00K	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$800.00K	USD	Point-in-time
Preferred stock, $0.001 par value, authorized 10,000,000 and 0 shares; issued and outstanding 0 shares as of September 30, 2012 and December 31, 2011, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, authorized 10,000,000 and 0 shares; issued and outstanding 0 shares as of September 30, 2012 and December 31, 2011, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 24,302,437 and 9,706,270 shares as of September 30, 2012 and December 31, 2011, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 24,302,437 and 9,706,270 shares as of September 30, 2012 and December 31, 2011, respectively	`CommonStockValue`	$24.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$138.07M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$8.23M	USD	Point-in-time
Accumulated equity (deficit)	`RetainedEarningsAccumulatedDeficit`	$3.17M	USD	Point-in-time
Accumulated equity (deficit)	`RetainedEarningsAccumulatedDeficit`	$-27.74M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-738.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-541.00K	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-20.24M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$140.73M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock, redeemable common stock and shareholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$62.33M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock, redeemable common stock and shareholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$156.92M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$32.45M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$92.38M	USD	3 Qtrs
Revenue	`SalesRevenueNet`	$26.91M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$73.30M	USD	3 Qtrs
Cost of revenue	`CostOfRevenue`	$10.30M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$12.76M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$28.25M	USD	3 Qtrs
Cost of revenue	`CostOfRevenue`	$37.24M	USD	3 Qtrs
Gross profit	`GrossProfit`	$16.61M	USD	1 Quarter
Gross profit	`GrossProfit`	$45.05M	USD	3 Qtrs
Gross profit	`GrossProfit`	$55.13M	USD	3 Qtrs
Gross profit	`GrossProfit`	$19.69M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$11.14M	USD	3 Qtrs
Marketing and sales	`SellingAndMarketingExpense`	$4.00M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$4.44M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$13.44M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$6.62M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.56M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.30M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.64M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.04M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.30M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$10.39M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.12M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.34M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$30.46M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$23.07M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$10.12M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$24.68M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$8.27M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$9.57M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$21.98M	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$18.00K	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-90.00K	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$314.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$21.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.89M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.29M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$24.59M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$21.99M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.80M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.96M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.19M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.25M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$14.74M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$6.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.63M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$5.49M	USD	1 Quarter
Less: dividends on redeemable preferred stock	`TemporaryEquityDividendsAdjustment`	$3.13M	USD	3 Qtrs
Less: dividends on redeemable preferred stock	`TemporaryEquityDividendsAdjustment`	$1.05M	USD	1 Quarter
Less: undistributed earnings allocated to preferred shareholders	`UndistributedEarningsAllocatedToPreferredShareholders`	$3.83M	USD	3 Qtrs
Less: undistributed earnings allocated to preferred shareholders	`UndistributedEarningsAllocatedToPreferredShareholders`	$1.42M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$7.78M	USD	3 Qtrs
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$16.63M	USD	3 Qtrs
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.02M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$6.70M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.23	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.64	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.28	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.72	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.22	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.26	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.58	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.68	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	12.16M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	12.90M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	24.05M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	22.98M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.56M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.50M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.31M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.36M	shares	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.83M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.76M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$5.18M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$14.46M	USD	3 Qtrs

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$14.74M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$6.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.63M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$5.49M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.61M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.38M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.13M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.01M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$2.36M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$700.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$300.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$742.00K	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.46M	USD	3 Qtrs
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$2.63M	USD	3 Qtrs
Loss (gain) on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$11.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.78M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.42M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$513.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.25M	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$93.00K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$256.00K	USD	3 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$524.00K	USD	3 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.35M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$941.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-312.00K	USD	3 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInOtherOperatingLiabilities`	$3.69M	USD	3 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.03M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$19.26M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$19.34M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.44M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.08M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireHeldToMaturitySecurities`	$61.40M	USD	3 Qtrs
Proceeds from sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$500.00K	USD	3 Qtrs
Proceeds from sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$10.29M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-65.54M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.58M	USD	3 Qtrs
Proceeds from initial public offering, net of offering costs	`ProceedsFromIssuanceInitialPublicOffering`	$79.10M	USD	Point-in-time
Proceeds from initial public offering, net of offering costs	`ProceedsFromIssuanceInitialPublicOffering`	$71.53M	USD	3 Qtrs
Payments on debt	`RepaymentsOfLongTermDebt`	$3.96M	USD	3 Qtrs
Payments on debt	`RepaymentsOfLongTermDebt`	$289.00K	USD	3 Qtrs
Proceeds from exercises of warrants and stock options	`ProceedsFromExerciseOfWarrantsAndStockOptions`	$547.00K	USD	3 Qtrs
Proceeds from exercises of warrants and stock options	`ProceedsFromExerciseOfWarrantsAndStockOptions`	$728.00K	USD	3 Qtrs
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$2.63M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.41M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$74.60M	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-170.00K	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-92.00K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$28.16M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.25M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.10M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.35M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.13M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.29M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.35M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.13M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$36.29M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.