Proto Labs (NYSE: PRLB) reported Q2 EPS of $0.71, $0.01 better than the analyst estimate of $0.70. Revenue for the quarter came in at $115.9 million versus the consensus estimate of $116.48 million.

Second Quarter 2019 Highlights include:

• Revenue for the second quarter of 2019 was $115.9 million, representing a 5.7 percent increase over revenue of $109.7 million for the second quarter of 2018.
• The number of unique product developers and engineers served through our web-based customer interface totaled 20,840 in the second quarter of 2019, an increase of 4.7 percent over the second quarter of 2018.
• Net income for the second quarter of 2019 was $16.2 million, or $0.60 per diluted share.
• Non-GAAP net income was $19.1 million, or $0.71 per diluted share. See “Non-GAAP Financial Measures” below.

“Protolabs continues to be a leader in digital manufacturing and achieved record revenue of $115.9 million in the second quarter,” said Vicki Holt, President and Chief Executive Officer. “We continue to focus on serving our customers by expanding our differentiated offering as we launched a metal 3D printing production offer and custom color matching for injection molding.”

Additional Second Quarter 2019 highlights include:

• Gross margin was 52.0 percent of revenue for the second quarter of 2019, compared with 54.0 percent for the second quarter of 2018.
• GAAP operating margin was 16.9 percent of revenue for the second quarter of 2019, compared to 20.0 percent for the second quarter of 2018.
• Non-GAAP operating margin was 20.6 percent of revenue for the second quarter of 2019, compared to 23.3 percent for the second quarter of 2018. See “Non-GAAP Financial Measures” below.
• EBITDA was $27.8 million, or 24.0% of revenue, for the second quarter of 2019.
• Adjusted EBITDA was $31.0 million, or 26.7% of revenue, for the second quarter of 2019. See “Non-GAAP Financial Measures” below.
• Cash flow from operations was $36.9 million in the second quarter of 2019.
• Cash and investments balance was $150.7 million at June 30, 2019.
• The Company repurchased $4.1 million, or 40,669 shares, of common stock during the quarter.
• Protolabs continued to expand its service offering through two new launches in Q2:
  • Custom color matching for injection molding
  • Production offer for metal 3D printing

“Protolabs grew 5.7% in the quarter despite currency headwinds, softness in automotive and industrial markets, and the challenge of transforming our newly acquired RAPID business to Protolabs’ business model,” said John Way, Chief Financial Officer. “We continue to focus on delighting our customers, driving sequential improvement in our business, and generating strong cash flows to allow us to continue to invest in future growth.”

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