10-Q Filing

Proto Labs Inc CIK: 1443669 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-426853`
Period End Date	20130930
Filing Date	20131105
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	prlb-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 68 Cash Flow Statement 59

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$154.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$195.00K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.76M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.38M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$25.14M	USD	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$33.65M	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
Accounts receivable, net of allowance for doubtful accounts of $195 and $154 as of September 30, 2013 and December 31, 2012, respectively	`AccountsReceivableNetCurrent`	$18.02M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $195 and $154 as of September 30, 2013 and December 31, 2012, respectively	`AccountsReceivableNetCurrent`	$15.79M	USD	Point-in-time
Inventory	`InventoryNet`	$4.97M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$4.62M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.36M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.66M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	24.80M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$3.97M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$1.88M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.45M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.45M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$669.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$609.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.80M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$104.31M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$90.16M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$45.32M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$52.38M	USD	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$36.97M	USD	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$59.44M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$285.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$247.00K	USD	Point-in-time
Total assets	`Assets`	$216.38M	USD	Point-in-time
Total assets	`Assets`	$172.72M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.76M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$6.00M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$6.85M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$513.00K	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$1.15M	USD	Point-in-time
Current portion of long-term debt obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$195.00K	USD	Point-in-time
Current portion of long-term debt obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$273.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.54M	USD	Point-in-time
Long-term deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$3.35M	USD	Point-in-time
Long-term deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$3.35M	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$206.00K	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$356.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$782.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$699.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$18.78M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.02M	USD	Point-in-time
Preferred stock, $0.001 par value, authorized 10,000,000 shares; issued and outstanding 0 shares as of September 30, 2013 and December 31, 2012, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, authorized 10,000,000 shares; issued and outstanding 0 shares as of September 30, 2013 and December 31, 2012, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 25,445,177 and 24,803,640 shares as of September 30, 2013 and December 31, 2012, respectively	`CommonStockValue`	$25.00K	USD	Point-in-time
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 25,445,177 and 24,803,640 shares as of September 30, 2013 and December 31, 2012, respectively	`CommonStockValue`	$26.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$147.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$162.46M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$10.57M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$36.34M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-928.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-541.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.23M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-595.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-738.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.03M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$197.60M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$156.70M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$216.38M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$172.72M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$92.38M	USD	3 Qtrs
Revenue	`SalesRevenueNet`	$119.07M	USD	3 Qtrs
Revenue	`SalesRevenueNet`	$32.45M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$42.01M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$44.98M	USD	3 Qtrs
Cost of revenue	`CostOfRevenue`	$37.24M	USD	3 Qtrs
Cost of revenue	`CostOfRevenue`	$12.76M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$16.05M	USD	1 Quarter
Gross profit	`GrossProfit`	$55.13M	USD	3 Qtrs
Gross profit	`GrossProfit`	$19.69M	USD	1 Quarter
Gross profit	`GrossProfit`	$74.09M	USD	3 Qtrs
Gross profit	`GrossProfit`	$25.95M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$5.41M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$4.44M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$16.22M	USD	3 Qtrs
Marketing and sales	`SellingAndMarketingExpense`	$13.44M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$8.40M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.03M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$6.62M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.56M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$10.39M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$12.04M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.12M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.12M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.55M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$30.46M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$36.66M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$10.12M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$37.42M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$13.40M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$9.57M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$24.68M	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`	$149.00K	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$31.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$37.57M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$13.43M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$24.59M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.89M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.19M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.80M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.96M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.56M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$25.77M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$16.63M	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.28	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.35	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.72	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$1.03	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.34	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.68	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.26	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.00	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	25.38M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	24.05M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	22.98M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	25.12M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.36M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.79M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.31M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.00M	shares	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$25.47M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.76M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.83M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.68M	USD	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$25.77M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$16.63M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.38M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.53M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$2.60M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$700.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$900.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.36M	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-61.00K	USD	3 Qtrs
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$8.20M	USD	3 Qtrs
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$2.63M	USD	3 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-111.00K	USD	3 Qtrs
Amortization of held-to-maturity securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-173.00K	USD	3 Qtrs
Amortization of held-to-maturity securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-1.01M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.78M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.24M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$380.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$513.00K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$256.00K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.54M	USD	3 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.35M	USD	3 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$6.10M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-312.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.56M	USD	3 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.56M	USD	3 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.03M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$34.90M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$19.43M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.44M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.98M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireHeldToMaturitySecurities`	$61.57M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireHeldToMaturitySecurities`	$82.66M	USD	3 Qtrs
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$50.66M	USD	3 Qtrs
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$10.29M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-44.97M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-65.71M	USD	3 Qtrs
Proceeds from initial public offering, net of offering costs	`ProceedsFromIssuanceInitialPublicOffering`	$71.53M	USD	3 Qtrs
Payments on debt	`RepaymentsOfLongTermDebt`	$211.00K	USD	3 Qtrs
Payments on debt	`RepaymentsOfLongTermDebt`	$289.00K	USD	3 Qtrs
Proceeds from exercises of warrants and stock options	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$728.00K	USD	3 Qtrs
Proceeds from exercises of warrants and stock options	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$4.63M	USD	3 Qtrs
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$8.20M	USD	3 Qtrs
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$2.63M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$12.62M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$74.60M	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$71.00K	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-170.00K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.62M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$28.16M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.76M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.29M	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`	$39.38M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$36.76M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$36.29M	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`	$39.38M	USD	Point-in-time

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