Proto Labs (NYSE: PRLB) reported Q1 EPS of $0.71, $0.03 better than the analyst estimate of $0.68. Revenue for the quarter came in at $107.7 million versus the consensus estimate of $103.88 million.

First Quarter 2018 Highlights include:

• Revenue for the first quarter of 2018 was a record $107.7 million, representing a 34.4 percent increase over revenue of $80.2 million in the first quarter of 2017.
• The number of unique product developers and engineers served through our web-based customer interface totaled 18,057 in the first quarter of 2018, an increase of 22.0 percent over the first quarter of 2017.
• Net income for the first quarter of 2018 was a record $18.1 million, or $0.66 per diluted share.
• Non-GAAP net income was $19.2 million, or $0.71 per diluted share. See “Non-GAAP Financial Measures” below.

“We are excited to start 2018 with the largest quarter in Protolabs’ history, with quarterly revenue topping the $100 million mark for the first time at $107.7 million,” said Vicki Holt, President and Chief Executive Officer. “This quarter is the first full quarter including the results of the Rapid Manufacturing acquisition, which added sheet metal to our product portfolio and expanded our CNC machining capabilities. The continued expansion of our services increases our value to our customers and allows us to serve more product developers and engineers each quarter.”

Additional First Quarter 2018 highlights include:

• Gross margin was 53.7 percent of revenue for the first quarter of 2018, compared with 56.5 percent for the first quarter of 2017.
• GAAP operating margin was 20.2 percent of revenue during the first quarter of 2018, compared to 22.1 percent for the first quarter of 2017.
• Non-GAAP operating margin was 23.0 percent of revenue during the first quarter of 2018, compared to 24.4 percent for the first quarter of 2017. See “Non-GAAP Financial Measures” below.
• The company generated $26.1 million in cash from operations during the first quarter of 2018.
• Cash and investments balance was $130.2 million at March 31, 2018.

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