Better-than-expected Earnings Drives Up Proto Labs Shares

(RTTNews) - Shares of Proto Labs, Inc. (PRLB) are rising more than 20% after reporting better-than-expected results in the fourth quarter.

The company reported net loss of $115.1 million, or $4.24 per diluted share in the fourth quarter, driven by a goodwill impairment charge of $118.0 million. Last year the company had net income of $11.91 million or

Excluding one-time items, earnings were $6.96 million, or $0.26 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.21 per share.

Revenue for the quarter declined to $115.6 million from $123.6 million last year, but beat the consensus estimate of $109.75 million.

PRLB, currently at $36.76, has traded in the range of $22.04 - $61.14 in the last year.