Proto Labs (PRLB) Falls After Missing Q2 Views

Proto Labs (NYSE: PRLB) is down 14.6% after the company reported Q2 EPS of $0.45, $0.03 worse than the analyst estimate of $0.48. Revenue for the quarter came in at $75 million versus the consensus estimate of $77.2 million.

“Revenue growth was solid in the second quarter, driven by continued strong growth in 3D printing, strength in our European markets, and the contribution from Alphaform,” said Vicki Holt, President and Chief Executive Officer. “We were also pleased with the legacy growth in Europe in the quarter, which grew 24 percent and we saw an improved performance in Japan with a revenue increase of 46 percent year over year. In the Americas, we experienced slower than expected growth in injection molding and CNC machining. This was primarily due to a slowdown in the US industrial economy as well as attrition in sales leadership.

“During the quarter, we improved our gross margins in both our legacy operations as well as in our Alphaform business. We are also beginning to see traction from our expanded sales and marketing efforts of 3D printing in Europe and anticipate this business will continue to grow throughout the year.”

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

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