Proto Labs Inc. (PRLB) announced on Friday that it experienced a loss in its fourth quarter, contrasting with the profit recorded in the same period of the previous year. The company noted a decline in revenues, yet both its adjusted earnings and revenue figures surpassed market expectations. For the upcoming first quarter, Proto Labs anticipates earnings that may align with or fall short of current market projections.
On the NYSE's pre-market trading, Proto Labs' shares were observed at $45.98, marking an increase of 3.58%.
Looking ahead to the first quarter, Proto Labs has forecasted net income per share ranging from $0.08 to $0.16, with adjusted earnings per share between $0.26 and $0.34. The company anticipates generating revenue in the range of $120 million to $128 million.
On average, Wall Street analysts predict the firm will report earnings of $0.34 per share on revenues amounting to $124.51 million, though these projections usually exclude the impact of special items.
Additionally, the company disclosed that its Board of Directors approved a new $100 million stock repurchase program on February 4.
During the fourth quarter, Proto Labs recorded a loss of $0.40 million, contrasting with a profit of $6.99 million from the same period the previous year. This equates to a loss per share of $0.02, compared to a profit of $0.27 per share in the prior year.
The company's adjusted earnings for the period were $9.40 million, or $0.38 per share, compared to $11.8 million, or $0.46 per share, a year ago. Analysts had anticipated earnings of $0.32 per share.
Revenue saw a decline of 2.6%, decreasing to $121.75 million from the previous year's $125.05 million, while the market had estimated revenues of $120.12 million for the quarter.
