Proto Labs (NYSE: PRLB) reported Q1 EPS of $0.51, $0.06 better than the analyst estimate of $0.45. Revenue for the quarter came in at $80.2 million versus the consensus estimate of $75.06 million.

First Quarter 2017 Highlights include:

• Revenue for the first quarter of 2017 was $80.2 million, 10.5 percent above revenue of $72.6 million in the first quarter of 2016.
• The number of unique product developers and engineers served totaled 14,801 in the first quarter of 2017, an increase of 11.7 percent over the first quarter of 2016.
• Net income for the first quarter of 2017 was $12.2 million, or $0.46 per diluted share. Non-GAAP net income, excluding the after-tax expense of stock compensation, amortization of intangibles and unrealized foreign currency losses, was $13.6 million, or $0.51 per diluted share. See “Non-GAAP Financial Measures” below.

“We are pleased with the strong start to our fiscal year with double digit revenue growth across all services,” said Vicki Holt, President and Chief Executive Officer. “These results along with solid execution delivered a 14.4 percent increase in quarterly net income.”

Additional First Quarter 2017 Highlights include:

• Gross margin was 56.5 percent of revenue for the first quarter compared with 54.6 percent for the first quarter of 2016 and 55.7 percent in the fourth quarter of 2016.
• Operating margin was 22.1 percent of revenue during the first quarter of 2017 compared to 20.8 percent for the first quarter of 2016.
• The Company generated $18.8 million in cash from operations during the first quarter of 2017 resulting in an increase in our cash and investment balances of $8.6 million to $201.3 million on March 31, 2017.

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