proto labs, inc. (prlb)

by:Keyuan     2020-06-19
COMMISSIONtoProto Laboratory, Inc. , securities trading. 479-
Phone Number of 3680, including area code)
Does not apply all reports that have been submitted in sections 13 or 15 requiring submission (d)
Securities Trading Act of 1934 within the first 12 months (
Or a short period of time required for the registrant to submit such reports), and (2)
This filing requirement has been bound for the last 90 days.
☑Yes. ☐No. ☑Yes. ☐Nolarge accelerates the declarant, \"accelerate the declarant\", \"smaller reporting company\", \"emerging growth company\"
2 of the Trading Act.
Big speed filer☑☐☐Small Reporting Company☐☐12b-
2 parts of the transaction law).
☐Yes. ☑As of the latest practicable date, the common stock category of No: 26,494,981 ordinary shares with a par value of $0.
001 per share, outstanding performance in April 26, 2017. 1.
Financial Statements-presentation basis of regulatory systemX.
The management believes that the accompanying financial statements reflect all adjustments required to fairly report the company\'s financial statements, operating results and cash flows during the period listed.
These adjustments include normal recurring items, unless otherwise disclosed in this agreement.
The results of the mid-term operations do not necessarily indicate the possible results for the entire fiscal year.
Annual Report on Form 10
K submitted to the Securities and Exchange Commission for the year ended December 31, 2016 (SEC)
February 22, 2017.
31,2016 from audited consolidated financial statements, but excluding all disclosures requested by the US governmentS.
A set of recognized accounting principles for a complete set of financial statements. This Form 10-
Q should be read in conjunction with the consolidated financial statements of the company and the notes contained in the form 10 annual report-
As noted above, K was submitted on February 22, 2017.
-The most recent accounting announcement, the company passed the Financial Accounting Standards Committee (FASB)
Update of accounting standards (ASU)2016-
09, employee sharing-
Based on payment accounting, aims to simplify several aspects of employee share accounting
Transactions based on payment, including income tax, forfeiture, statutory withholding tax requirements, and classification in the cash flow statement.
Due to adoption, changes in excess taxes benefit from stocks
Basic compensation is recorded in our income tax terms.
For the three months ended March 31, 2017, the amount recorded in the income tax preparation is not important.
Historically, these amounts are recorded as additional payments
The capital required by an accounting statement valid for the period submitted.
In addition, for each period presented, cash flows related to excess tax benefits are now classified as operating activities along with other income tax cash flows.
Retroactive application of cash flow reporting requirements resulted in an increase in net cash provided by the business and a decrease of $1 in net cash provided by financing activities.
3 million per cent for the three months ended March 31, 2016.
FASB released the ASU. 2014-
09. contract income with customers.
This ASU is a comprehensive new revenue recognition model that requires the company to confirm the income from the transfer of goods or services to the customer, the amount reflects the consideration that the entity expects to obtain in exchange for these goods or services.
Companies need to adopt a new statement using one of two retrospective application methods.
The company is expected to use the revised retrospective approach to adopt the new revenue standard and expects to quantify and disclose the expected impact of adopting this revised guide in the quarterly report in table 10
Three months to September 30, 2017
While the company is still evaluating the impact of the revised guidelines, it is not expected to have a significant impact.
Lease, introducing the lessee\'s balance sheet confirmation of the leased assets and lease liabilities operating the lease according to the previous guidance classification.
The guide will be valid for the annual reporting period beginning after December 15, 2018 and for the interim reporting period within the fiscal year where early adoption is permitted.
The company is evaluating the impact of future adoption of this standard on its consolidated financial statements cash flow statement, which aims to reduce the diversity of the company\'s display and classification of certain cash income and cash payments in the cash flow statement.
This guidance will be effective for the annual reporting period beginning after December 15, 2017 and for the interim reporting period within the fiscal year where early adoption is permitted.
The company is evaluating the impact of future adoption of this guide on its consolidated financial statements, but is not expected to have a significant impact.
Intangible assets-Goodwill and others, designed to simplify the follow-up measurement of goodwill.
The guide will be valid for the annual impairment test for the fiscal year beginning after December 15, 2019 and the mid-term test for the fiscal year that allows early adoption.
The company is evaluating the impact of future adoption of this guide on its consolidated financial statements, but is not expected to have a significant impact.
Note 3-Net income per unit of ordinary shares (PSUs)
Until the performance conditions are met, the calculation of diluted potential common stock is not included.
The table below lists the calculation of basic earnings per share and net Diluted income for the three months ended March 31, 2017:-Goodwill and other intangible assets.
March 31, 2017 and December 31, 2016 were $0.
Each of the three months ended March 31, 2017 was 2 million and 2016 per month.
-Fair value measurement (ASC 820)
, Defines fair value as the exchange price the asset receives or pays for the transfer of liability (an exit price)
The principal or most favorable market for assets or liabilities in an orderly transaction between market participants on the measurement day.
ASC 820 has also established a fair value hierarchy that, when measuring fair value, needs to be classified according to observable and unobservable inputs.
There are three levels of input that can be used to measure fair value :-
An active market offer for the same assets or liabilities. —
Observable Inputs other than the first-class price, such as quotations for similar assets or liabilities;
Quotation of inactive market;
Or other inputs confirmed by observable or observable market data that are essentially the full term of assets or liabilities. —
Unobservable inputs with little or no market activity support are important for the fair value of assets or liabilities.
Cash consists of bank deposits.
Cash equivalents of companies measured at fair value include money market mutual funds.
Companies use Level 1 inputs to determine the fair value of these investments.
March 31, 2017 and December 31, 2016, measured at regular fair value:-the ability and intention of securities to hold these securities until maturity.
Short information about the company-term and long-
The periodic Securities as at March 31, 2017 and December 31, 2016 are as follows: the above-mentioned losses have been realized as temporary losses.
In reaching this conclusion, the company considered the credit quality of the debt securities issuer and the company\'s intention to hold the investment due and recover the full principal.
The due date as of the date of these financial statements.
Balance held on March 31, 2017-to-
Maturity Debt Securities calculated by contract maturity are shown in the following table, calculated at Amortized costs.
The actual due date may be different from the contract due date, as the issuer of the securities may be entitled to advance the debt without a penalty in advance.
-Inventory includes the following as of the specified date:-inventory-
Compensation based on 2012 Long
Revised regular incentive plan (2012 Plan)
The company has the ability to grant stock options and stock value-added rights (SARs)
Restricted stocks, stock units, other stocks-
Rewards and cash rewards.
2012 The Award under the scheme is for a maximum period of ten years from the date of award.
The compensation commission may provide that the attribution or payment of any award, in addition to meeting any continuing service requirements, will depend on the achievement of specific performance measures, which the compensation commission will decide whether or not these measures have been taken. The per-
The stock options granted under the 2012 program and the stock exercise price of SARs are generally not less than the fair market price of our common stock on the date of grant.
2012 employee stock purchase plan (ESPP)
Eligible employees are allowed to purchase a variable number of shares of the Company\'s common stock at a discount during each issue period by deducting up to 15% of eligible remuneration subject to the plan restrictions.
ESPP offers six-
The purchase period is provided once a month, ending at May15 and November15, respectively.
At the end of each sale period, employees are able to purchase shares on the first trading day of the issue period or the last trading day of the issue at 85% of the Company\'s common stock fair market price.
Ed\'s compensation fee is $1.
Each of the three months ended March 31, 2017 was 7 million and 2016 per month.
Three months as of March 31, 2017: continue to serve the company.
For directors, options are generally fully exercisable at the first anniversary of the date of grant.
In the three months ended March 31, 2017, the hat was $27. 57.
For the three months ended March 31, 2017 and 2016: March 31, 2017, $5.
8 million of the unconfirmed compensation costs associated with the unvested stock option, is expected to be confirmed by weighting
Average period 3. 1 years. are share-
During the attribution period, the rewards and restrictions that have been solved gradually become invalid, usually five.
The annual period, starting from the first anniversary of the date of award, is subject to the employee\'s continued service to the company.
For directors, the restriction is usually completely invalidated at the first anniversary of the date of grant.
D stock activity for the three-month period ended March 31, 2017: $13 in March 31, 2017.
4 million of non-related unconfirmed compensation costs
Vested restricted stocks expected to be confirmed by weighting
Average period 3. 8 years.
Expressed in the number of targets for PSUs, anywhere between the 0 percentage of the target number and 150 percent can be acquired and attributed at the end of the three targets
According to the company\'s performance in the last year of the performance period and the continuing employment of the winners, the annual performance period.
The company is accumulating shares as of March 31, 2017
The basic compensation fee for PSUs is 100%.
Ue of ESPP for the three months ended March 31, 2017 and 2016:-Cumulative Other Consolidated income (Loss)
March 31, 2017 and 2016:-income tax.
For the three months ended March 31, 2017 and 2016, the Company recorded a $5 income tax reserve.
$8 million and $5.
1 million respectively.
Income tax provisions are based on annual estimated annual effective tax rates applicable to pre-taxtax income.
The effective income tax rate for the three months ended March 31, 2017 was 32.
2% contrast 32.
The same period in the previous year was 4%.
March 31, 2017 different in AmericanS.
Federal interest rate 35.
0% is mainly due to a mix of revenue and deductions from domestic and foreign tax jurisdictions that the company is eligible.
Nized tax offers totaling $4.
$1 million and $3.
8 million in March 31, 2017 and December 31, 2016 respectively, all of which, if confirmed, will affect the effective tax rate of the company.
The company confirms interest and fine in income tax expenses related to income tax matters and reports current or long-term liabilities
Periodic Income tax payable as appropriate.
-The reportable segment of the segment report is based on the internal report used by the CEO of the company\'s chief operating decision maker (CODM)
Evaluate operational performance and make decisions on resource allocation.
Company unassigned and Japanese categories include non-
Market segments that can be reported, and the R & D and general and administrative costs that the company does not directly allocate to its operations.
For the three months ended March 31, 2017 and 2016, the operating income of the sections can be reported as follows: For the three months ended March 31, 2017 and December 31, 2016, the following is a discussion and analysis of the operational financial status and resultsn e-
Fast Digital manufacturers driven by businessturn, on-
Demand injection-molded, CNC-Machining and 3D
Customized parts for prototype and short printingrun production.
We offer \"real parts, very fast\" to product developers and engineers around the world, who are under increasing pressure to bring finished products to market faster than their competitors
We believe that due to the inherent inefficiency of quotation, equipment setting, custom parts manufacturing has always been a market with insufficient serviceup and non-
Repeat engineering process required to produce custom parts.
Our know-how has eliminated most of the time.
Traditionally, we need to consume and expensive skilled labor to quote and manufacture parts at low prices, and our customers carry out almost all business with us through the Internet.
Our goal is to use three million-
Size Computeraided design (3D CAD)
Software design products in different terminals-markets.
Lude injection molding, CNC machining and 3D printing.
We are constantly seeking to expand the range of dimensions and geometric complexity of the parts that we can make with these manufacturing processes, in order to expand the various materials that we can support, and identify additional manufacturing processes that we can apply technology to better meet the changing preferences and needs of product developers and engineers. and short-run production.
The number of prototypes is usually between 25 and 100 parts.
Because we keep the ownership of the mold, the customer needs to be low
Mass production usually goes back to the injection molding line in the prototype lab, with an additional quantity usually up to 10,000 or more.
They do this to support the pilot production of product testing or when they are high
Ready for mass production as they need
Due to the interruption in the manufacturing process, the demand is made because their products will only be released in a limited number or because they need the terminalof-
Guarantee of life production.
These extra parts orders usually occur on about half of the molds we produce, usually about half of our total injection molding revenue.
The product line uses our proprietary 3D CAD-to-
CNC machining technology on Commercial CNC machines, cutting plastic or metal blocks or rods into one or more custom parts according to 3D CAD models uploaded by product developers or engineers.
Our efficiency stems from the automation and proprietary fixture processes programmed by these machines.
The CNC machining line is perfect for producing small quantities of parts, usually within the range of one to 200 parts.
The product line includes stereo molding (SL)
Selective Laser Sintering (SLS)
Laser Sintering of direct metal (DMLS)
And PolyJet process to provide customers with a wide rangeAll kinds of high
Quality, precision rapid prototyping and low
Mass production.
These processes make parts with high precision, detail, strength and durability.
3D printing is ideal for small batch production, usually in the range of 1 to 50 parts.
Our business is carried out in three geographic operations in the US, Europe and Japan, and we believe this is the three largest geographic markets where product developers and engineers are located.
Our revenue in each market in the US and Europe comes from our injection molding, CNC machining and 3D printing product line.
Our revenue in the Japanese market comes from our injection molding and CNC processing lines.
Our past and present efforts to increase revenue are aimed at acquiring new customers and selling to our existing customer base through the acquisition of FineLine Prototyping, Inc.
In April 2014, by acquiring certain assets of Alphaform AG, including shares in the company, we expanded our scale (Alphaform)
On October 2015;
We serve 801 unique product developers and engineers who purchase our products through our network
11 more based on the customer interface.
The same period in 2016 was 7% per cent.
This information does not include 3D printing and injection molding customers resulting from the acquisition of alpha form that do not take advantage of our networkInterface-based.
Indirect expense allocation associated with the manufacturing process of molds and custom parts.
We expect revenue costs to increase in absolute US dollars, but the percentage of total revenue remains relatively unchanged.
Each of these categories.
Marketing and sales expenses mainly include employee compensation, benefits, commissions, inventory
Marketing programs such as electronics, printing and paymentper-
Click on ads, trade shows and other related expenses.
As we increase the number of marketing and sales professionals and marketing plans designed to increase our customer base, we expect sales and marketing expenses to increase in the future.
R & D expenses mainly include employee compensation, benefits and inventory
Depreciation of equipment and other related overhead costs.
All our R & D expenses have been paid.
As we seek to enhance and expand our product line, we expect an increase in R & D costs in the future.
General and administrative expenses mainly include employee compensation, benefits, inventory
Professional service fees related to accounting, taxation and law and other related overhead fees.
As we continue to grow and expand as a global organization, we expect General and administrative costs to increase in the future.
Cash balance and interest income on investment.
Our foreign currency
Related gains and losses will vary depending on the underlying exchange rate.
Our interest income will vary depending on our average cash balance during this period, the composition of the saleable securities portfolio and the current interest rate level. Stock-
The basic compensation expenses included in the above three-month operation DATA statements as of March 31, 2017 and 2016 are as follows: the March 31, 2017 and 2016 reportable market segments and related changes for the three months ended March 31, 2017 and 2016 are as follows: 7.
6 million or 10
5%, compared with the same period in March 31, 2017, the three months ended 2016.
S. Revenue is reported to have increased by $5.
7 million or 10
5%, revenue in Europe increased by $1. 4 million, or 8.
8%, Japan\'s income increased by $0.
5 million, or 21.
2%, compared to the same period in March 31, 2017, this is the case for each of the three months ended 2016.
In the three months ended March 31, 2017, the number of product developers and engineers we serve has increased.
In the three months ended March 31, 2017, we have served 801 unique product developers and engineers through our network
11 more based on the customer interface.
The same period in 2016 was 7% per cent.
The average revenue per product developer or engineer has increased by 2.
3% compared with the same period in March 31, 2017, the three-month period as at 2016.
The negative impact of $1.
Compared with the same period in March 31, 2017, the three-month period ended 2016, due to foreign currency changes, mainly the appreciation of the US dollar relative to the pound.
For the three months ended March 31, 2017, 2016 was like this: Venue growth was increased by 11.
Injection molding revenue increased by 0%, a 16.
CNC processing revenue increased by 4%, an increase of 10.
3D printing revenue increased by 7% per cent, compared to the same period in March 31, 2017, and increased by $1 per case for the three months ended 2016.
As we decided to withdraw from our non-income in 2016, other income decreased by 2 million.
Reselling core resin business.
Revenue costs increased by $2. 0 million, or 6.
0%, compared with the same period in March 31, 2017, the income growth rate for the three months ended 2016 was less than 10.
Compared with the same period in March 31, 2017, 5% months in the three months ended 2016 achieved productivity gains.
The net increase in revenue costs is due to business growth and is due to an increase of $0 in raw materials and production costs.
6 million to support the increase in sales volume, the increase in the number of direct labor led to an increase of $1 in personnel and related costs.
1 million and facilities-
Related costs increased by $0. 3 million.
Gross profit increased from $39.
7 million or 54.
For the three months ended March 31, 2016, 6% of income reached $45.
3 million, or 56.
In the three months ended March 31, 2017, revenue accounted for 5% per cent.
The increase in gross profit is mainly due to the increase in income and the increase in manufacturing productivity, which is partially offset by the increase in income costs mentioned above.
The cost of marketing and sales increased by $2.
Millions, or 18.
7%. in the three months ended March 31, 2017, compared with the same period in 2016, the main reason was the increase in the number of persons, resulting in an increase of $2 in personnel and related costs. 0 million.
Our R & D costs have increased by $0. 5 million, or 9.
5%. in the three months ended March 31, 2017, compared with the same period in 2016, the number of personnel and related costs increased by $0 due to the increase in the number of people.
4 million, operating costs increased by $0.
2 million, the cost of professional services was reduced by $0, partially offsetting this amount. 1 million.
Our general and administrative expenses have increased by $0. 5 million, or 6.
4%. in the three months ended March 31, 2017, compared with the same period in 2016, the number of personnel and related costs increased by $0 due to the increase in the number of people.
4 million, an increase of $0 in administrative costs.
2 million, the cost of professional services was reduced by $0, partially offsetting this figure. 1 million.
We have confirmed Other income in addition to $0.
In the three months ended March 31, 2017, $3 million was reduced by $0.
3 million net income was $0 compared to other income.
6 million per cent for the three months ended March 31, 2016.
Other income, mainly due to changes in foreign currency, decreased net.
Our effective tax rate is 32.
In the three months ended March 31, 2017, 2% fell by 0.
2% contrast 32.
The same period in 2016 was 4% per cent.
The decline in the actual tax rate is mainly due to changes in taxable income in our geographic region for the quarter ended March 31, 2017 compared to the quarter ended March 31, 2016.
Our income tax has increased by $0. $7 million to $5.
For the three months ended March 31, 2017, our income tax reserve was $8 million.
1 million per cent for the three months ended March 31, 2016.
For the three months ended March 31, 2017, our cash flow was 2016: cash equivalents of sh and $71.
9 million an increase of $3 as at March 31, 2017.
From 1 million in December 31, 2016.
The increase in our cash is mainly due to cash generated through operations, which are partially offset by the repurchase of ordinary stocks and investment activities.
The flow of funds for business activities is $18.
8 million for the three months ended March 31, 2017, net income was primarily $12.
2 million, adjusted to some non-
Cash items, including depreciation and amortization of $4.
3 million, inventory-
Basic compensation fee of $1.
7 million, deferred tax $0.
4 million and amortization heldto-
Securities due at $0.
3 million, partially offset by other adjustments of $0. 1 million.
Cash flows from operating activities increased by $0.
5 million compared with the same period in March 31, 2017, for the three months ended 2016, it was mainly due to an increase in net income of $1.
5 million, depreciation amortization of $0.
5 million due to an increase in capital investment and an increase in deferred taxes of $0. 3 million.
These increases were partially offset by a decrease of $1 in operating assets and liabilities.
8 million was driven by overall business growth and cash receipts and payments schedules.
$18 rating campaign.
3 million for the three months ended March 31, 2016, net income was primarily $10.
7 million, adjusted to some non-
Cash items, including depreciation and amortization of $3.
8 million, inventory-
Basic compensation fee of $1.
7 million, amortization of holdingsto-
Securities due at $0.
Deferred taxes for $3 million and $0. 1 million.
The investment activity is $13.
6 million for the three months ended March 31, 2017, including $7.
£ 8 million for property and equipment, $16.
5 million was partially offset by $10 for the purchase of securities.
8 million the maturity income of the insured securities.
The investment was $16.
6 million for the three-month period as at March 31, 2016, including $8.
£ 3 million for property and equipment, $18.
8 million was partially offset by $10 for the purchase of securities.
5 million Proceeds from maturity and redemption of securities.
Funds for financing activities are $2.
5 million in the three months ended March 31, 2017, the exercise income of stock options was $0.
Buy back $2 m of common stock. 7 million. was $1.
2 million for the three months ended March 31, 2016, the proceeds from stock options were $1.
6 million, partially offset by $0.
4 million acquisition payment-
Any consideration related to Fineline\'s acquisition. 6.
During the three months ended March 31, 2017, there was no significant change in our major accounting policies. 3.
The quantitative and qualitative disclosure of market losses is $0.
1 million and $0 in foreign currency earnings.
For the three months ended March 31, 2017, 4 million and 2016 respectively. 4.
Rules and Forms of control and procedures and, as appropriate, build up and communicate to our management, including our chief executive officer and CFO, in order to make timely decisions on the necessary disclosures. 1.
The year ended December 31, 2016. 2.
Unregistered sales of equity securities and use of proceedsitem3.
Default of senior securities.
Information disclosure of Mine Safety 5.
Other information (1)(2)(3)
Registration Statement on Form S1/A (File No. 333-175745)
, Submitted to the Commission on February 13, 2012 and incorporated in this reference. ’sForm 8-K(File No. 001-35435)
, Submitted to the Commission on November 8, 2016 and incorporated in this reference. ’s Form 8-K (File No. 001-35435)
, Submitted to the Commission on May 21, 2015 and incorporated in this reference.
In May 2, 2017, I and 2017 of other certified officials were responsible for establishing and maintaining disclosure controls and procedures (
According to Rule 13a of the Transaction Act-15(e)and 15d-15(e))
Internal control of financial reports (
According to Rule 13a of the Transaction Act-15(f)and 15d-15(f))
For registrants: disclosure controls and procedures, and to present in this report our conclusions on disclosure controls and the effectiveness of the procedures, based on which evaluation ends as of the period covered in this report;
And the internal control of the financial report by the registrant in the last financial quarter (
The fourth quarter of the registrant in the case of annual report)
Having a significant or rather likely significant impact on the internal control of the registrant\'s financial report;
Based on our recent assessment of internal controls in financial reporting, I and other certified officers disclosed to the auditor of the registrant and the Board of Auditors of the registrant (
Or persons performing equivalent functions)
: Ability to record, process, summarize and report financial information;
Internal control of financial reporting.
In May 2, 2017, I and other certification officers were responsible for establishing and maintaining disclosure controls and procedures (
According to Rule 13a of the Transaction Act-15(e)and 15d-15(e))
Internal control of financial reports (
According to Rule 13a of the Transaction Act-15(f)and 15d-15(f))
For registrants: disclosure controls and procedures, and to present in this report our conclusions on disclosure controls and the effectiveness of the procedures, based on which evaluation ends as of the period covered in this report;
And the internal control of the financial report by the registrant in the last financial quarter (
The fourth quarter of the registrant in the case of annual report)
Having a significant or rather likely significant impact on the internal control of the registrant\'s financial report;
Based on our recent assessment of internal controls in financial reporting, I and other certified officers disclosed to the auditor of the registrant and the Board of Auditors of the registrant (
Or persons performing equivalent functions)
: Ability to record, process, summarize and report financial information;
Internal control of financial reporting.
On May 2, 2017, March 31, 2017, it fully met the requirements of Section 13 (a)or 15(d)
Information contained in the Securities Exchange Act of 1934 and the Quarterly Report of Form 10
Q provides a fair presentation on the financial position and operational results of Proto Labs in all important respects
May 2, 2017 Victoria
HoltMarch 31, 2017 fully meet the requirements of Section 13 (a)or 15(d)
Information contained in the Securities Exchange Act of 1934 and the Quarterly Report of Form 10
Q provides a fair presentation on the financial position and operational results of Proto Labs in all important respects
John A, May 2, 2017
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