Protolabs (NYSE: PRLB) posted second-quarter earnings today that missed the consensus forecast on Wall Street, though the company beat on revenue.
The Maple Plain, Minn–based digital manufacturing outsourcer — which serves medtech and a host of other industries — reported profits of $12.9 million, or 47¢ per share, on sales of $123.0 million for the three months ended June 30, 2021, for a bottom-line gain of 2.4% and sales growth of 15.4% compared with Q2 2020.
Adjusted to exclude one-time items, earnings per share were 39¢, a nickel behind The Street, where analysts were looking EPS of 44¢ on sales of $122.2 million.
“During the second quarter of 2021, we experienced strong demand and delivered record revenues despite the challenges of labor availability in the U.S. We are emerging from the pandemic stronger than ever in the custom parts space,” Protolabs CEO Rob Bodor said in a news release.
Added CFO John Way: “The environment is ripe for growth, and our digital manufacturing model is leading the way. Our profitable business model drives a healthy balance sheet with $89 million in cash and investments and no debt, giving us the flexibility to continue to invest in future growth and lead the digital custom parts space.”
Investors reacted by sending PRLB down more than –3.4% to $81.37 apiece by midday trading today.