$PRLB
Proto Labs Inc

2012 Q4 Form 10-K Financial Statement

#000119312513121462 Filed on March 22, 2013

View on sec.gov

Income Statement

Concept 2012 Q4 2012 2011 Q4
Revenue $33.62M $126.0M $25.60M
YoY Change 31.31% 27.34% 39.89%
Cost Of Revenue $12.61M $49.85M $11.10M
YoY Change 13.61% 26.77% 54.17%
Gross Profit $21.01M $76.14M $14.60M
YoY Change 43.87% 27.72% 31.53%
Gross Profit Margin 62.49% 60.43% 57.03%
Selling, General & Admin $8.222M $32.06M $8.100M
YoY Change 1.51% 16.46% 44.64%
% of Gross Profit 39.14% 42.1% 55.48%
Research & Development $2.515M $9.137M $1.600M
YoY Change 57.19% 74.97% 45.45%
% of Gross Profit 11.97% 12.0% 10.96%
Depreciation & Amortization $1.700M $6.080M $1.300M
YoY Change 30.77% 42.59% 44.44%
% of Gross Profit 8.09% 7.99% 8.9%
Operating Expenses $10.74M $41.19M $9.600M
YoY Change 11.84% 25.79% 45.45%
Operating Profit $10.27M $34.95M $5.000M
YoY Change 105.36% 30.06% 11.11%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $114.0K $23.00K -$100.0K
YoY Change -214.0% -120.18% 0.0%
Pretax Income $10.38M $34.97M $4.800M
YoY Change 116.29% 30.7% 33.33%
Income Tax $2.987M $10.94M $1.500M
% Of Pretax Income 28.77% 31.3% 31.25%
Net Earnings $7.395M $24.03M $3.200M
YoY Change 131.09% 33.68% -8.57%
Net Earnings / Revenue 22.0% 19.07% 12.5%
Basic Earnings Per Share $0.30 $1.03
Diluted Earnings Per Share $0.29 $0.98 $137.9K
COMMON SHARES
Basic Shares Outstanding 23.37M shares
Diluted Shares Outstanding 24.44M shares

Balance Sheet

Concept 2012 Q4 2012 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $61.90M $61.90M $8.400M
YoY Change 636.9% 636.9% 21.74%
Cash & Equivalents $36.76M $36.80M $8.135M
Short-Term Investments $25.10M $25.10M $300.0K
Other Short-Term Assets $6.000M $6.000M $4.300M
YoY Change 39.53% 39.53% 115.0%
Inventory $4.619M $4.600M $3.797M
Prepaid Expenses
Receivables $15.79M $15.80M $11.53M
Other Receivables $1.900M $1.900M $0.00
Total Short-Term Assets $90.16M $90.20M $28.08M
YoY Change 221.1% 221.0% 48.56%
LONG-TERM ASSETS
Property, Plant & Equipment $45.32M $45.30M $34.25M
YoY Change 32.31% 32.46% 75.64%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $37.00M $37.00M $0.00
YoY Change
Other Assets $285.0K $300.0K
YoY Change
Total Long-Term Assets $82.57M $82.50M $34.25M
YoY Change 141.08% 141.23% 75.64%
TOTAL ASSETS
Total Short-Term Assets $90.16M $90.20M $28.08M
Total Long-Term Assets $82.57M $82.50M $34.25M
Total Assets $172.7M $172.7M $62.33M
YoY Change 177.13% 177.21% 62.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.758M $4.800M $4.431M
YoY Change 7.38% 9.09% 58.25%
Accrued Expenses $6.500M $6.500M $5.100M
YoY Change 27.45% 27.45% 155.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $273.0K $300.0K $390.0K
YoY Change -30.0% -25.0% -89.46%
Total Short-Term Liabilities $11.54M $11.50M $9.939M
YoY Change 16.1% 16.16% 16.93%
LONG-TERM LIABILITIES
Long-Term Debt $400.0K $400.0K $600.0K
YoY Change -33.33% -33.33% -53.85%
Other Long-Term Liabilities $782.0K $800.0K $871.0K
YoY Change -10.22% -11.11% 24.43%
Total Long-Term Liabilities $782.0K $1.200M $871.0K
YoY Change -10.22% -20.0% -56.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.54M $11.50M $9.939M
Total Long-Term Liabilities $782.0K $1.200M $871.0K
Total Liabilities $16.02M $16.00M $10.81M
YoY Change 48.22% 1.91% -7.61%
SHAREHOLDERS EQUITY
Retained Earnings $10.57M -$27.74M
YoY Change -138.1%
Common Stock $147.1M $8.239M
YoY Change 1684.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $156.7M $156.7M -$20.24M
YoY Change
Total Liabilities & Shareholders Equity $172.7M $172.7M $62.33M
YoY Change 177.13% 177.21% 62.31%

Cashflow Statement

Concept 2012 Q4 2012 2011 Q4
OPERATING ACTIVITIES
Net Income $7.395M $24.03M $3.200M
YoY Change 131.09% 33.68% -8.57%
Depreciation, Depletion And Amortization $1.700M $6.080M $1.300M
YoY Change 30.77% 42.59% 44.44%
Cash From Operating Activities $6.300M $25.31M $4.200M
YoY Change 50.0% 7.52% 2.44%
INVESTING ACTIVITIES
Capital Expenditures -$3.000M $17.40M -$8.900M
YoY Change -66.29% -8.45% 128.21%
Acquisitions
YoY Change
Other Investing Activities -$10.90M -$62.20M $0.00
YoY Change -12540.0%
Cash From Investing Activities -$13.90M -$79.25M -$8.900M
YoY Change 56.18% 328.3% 128.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $388.0K
YoY Change -90.42%
Cash From Financing Activities 8.200M 82.79M 600.0K
YoY Change 1266.67% -3009.88% -154.55%
NET CHANGE
Cash From Operating Activities 6.300M 25.31M 4.200M
Cash From Investing Activities -13.90M -79.25M -8.900M
Cash From Financing Activities 8.200M 82.79M 600.0K
Net Change In Cash 600.0K 28.84M -4.100M
YoY Change -114.63% 1218.88% 355.56%
FREE CASH FLOW
Cash From Operating Activities $6.300M $25.31M $4.200M
Capital Expenditures -$3.000M $17.40M -$8.900M
Free Cash Flow $9.300M $7.909M $13.10M
YoY Change -29.01% 74.51% 63.75%

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CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0001443669
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2012 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1277000
CY2012 us-gaap Debt Instrument Interest Rate Stated Percentage Rate Range Maximum
DebtInstrumentInterestRateStatedPercentageRateRangeMaximum
0.074 pure
CY2012 us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
LIBOR plus 1.5%
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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19600000
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
34946000
CY2012 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
844000
CY2012 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
306000
CY2012 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
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-0.004 pure
CY2012 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
84219000
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y6M
CY2012 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
-0.029 pure
CY2012 us-gaap Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Entitys Country Of Domicile
EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToEntitysCountryOfDomicile
94866000
CY2012 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
388000
CY2012 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
23000
CY2012 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3039000
CY2012 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
23835000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
30.58
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6080000
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
3039000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
28.67
CY2012 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.000 pure
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.85 pure
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.98
CY2012 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.08 pure
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-398000
CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
667243 shares
CY2012 us-gaap Debt Instrument Interest Rate Stated Percentage Rate Range Minimum
DebtInstrumentInterestRateStatedPercentageRateRangeMinimum
0.045 pure
CY2012 us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
24443665 shares
CY2012 us-gaap Defined Contribution Plan Maximum Annual Contribution Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionPerEmployeePercent
0.50 pure
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
500 shares
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
316000
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
10288000
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.313 pure
CY2012 us-gaap Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Foreign Countries
EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries
31125000
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
25306000
CY2012 us-gaap Basic Earnings Per Share Pro Forma
BasicEarningsPerShareProForma
1.03
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-79248000
CY2012 us-gaap Income Taxes Paid
IncomeTaxesPaid
7990000
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
65000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.41
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.008 pure
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
71530000
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17397000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
28624000
CY2012 us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
23373593 shares
CY2012 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13957000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Description And Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms
February 23, 2012 to November 15, 2012
CY2012 us-gaap Advertising Expense
AdvertisingExpense
5900000
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1887000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
259800 shares
CY2012 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
71530000
CY2012 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y8M12D
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24443665 shares
CY2012 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2975000
CY2012 us-gaap Sales Revenue Net
SalesRevenueNet
125991000
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4372000
CY2012 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-190000
CY2012 us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
10900000
CY2012 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
18098000
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.03
CY2012 us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Note 1 &#x2013; Nature of Business</b></font></p> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Organization and business</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Proto Labs, Inc. and its subsidiaries (Proto Labs, the Company, we, us, or our) is an online and technology-enabled manufacturer of quick-turn computer numerical control (CNC) machined and injection molded custom parts for prototyping and short-run production. The Company&#x2019;s customers are product developers worldwide who require a faster and less expensive way to obtain low volumes of parts. The Company&#x2019;s proprietary technology eliminates most of the time-consuming and expensive skilled labor conventionally required to quote and manufacture parts in low volumes, and its customers conduct nearly all of their business with the Company over the Internet. The Company targets its services to the millions of product developers who use three-dimensional (3D)&#xA0;computer-aided design (CAD) software to design products across a diverse range of end-markets. The Company has established operations in the United States, Europe and Japan, which the Company believes, are three of the largest geographic markets where these product developers are located. The Company&#x2019;s primary manufacturing services currently include Firstcut, which is a CNC machining service, and Protomold, which is a plastic injection molding service. Proto Labs, Inc. is located in Maple Plain, Minnesota. The Company&#x2019;s subsidiaries, Proto Labs Limited and Proto Labs G.K. are located in Telford, United Kingdom and Yamato-Shi, Kanagawa, Japan, respectively.</font></p> </div>
CY2012 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9137000
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
82786000
CY2012 us-gaap Cost Of Revenue
CostOfRevenue
49853000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Discount From Market Price Offering Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPriceOfferingDate
0.15 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.011 pure
CY2012 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
2195000
CY2012 us-gaap Operating Expenses
OperatingExpenses
41192000
CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
6218000
CY2012 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1071000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
34653000
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23373593 shares
CY2012 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2013-09-30
CY2012 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
829000
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
217000
CY2012 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1300000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
P6M
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y
CY2012 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.035 pure
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
761000
CY2012 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-154000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
34969000
CY2012 us-gaap Gross Profit
GrossProfit
76138000
CY2012 us-gaap Interest Paid
InterestPaid
63000
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-583000
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
10000
CY2012 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-1060000
CY2012 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
22368000
CY2012 us-gaap Net Income Loss
NetIncomeLoss
24025000
CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
6218000
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10944000
CY2012 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-220000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodFairValue
1300000
CY2012 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
24025000
CY2012 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Accounting estimates</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></p> </div>
CY2012 us-gaap Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
0.98
CY2012 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
4314000
CY2012 prlb Minimum Number Of Employee Working Hours Required To Be Eligible To Participate In Four Zero One K Plan
MinimumNumberOfEmployeeWorkingHoursRequiredToBeEligibleToParticipateInFourZeroOneKPlan
20 H
CY2012 prlb Operating Loss Carryforwards Expiration Year
OperatingLossCarryforwardsExpirationYear
2019
CY2012 prlb Operating Loss Carryforwards Beginning Expiration Year
OperatingLossCarryforwardsBeginningExpirationYear
2013
CY2012 prlb Share Based Compensation Arrangement By Share Based Payment Award Expiration Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationPeriod
P10Y
CY2012 prlb Effective Income Tax Rate Reconciliation Tax Reserves
EffectiveIncomeTaxRateReconciliationTaxReserves
0.000 pure
CY2012 prlb Stock Issued During Period Shares Warrants Exercised
StockIssuedDuringPeriodSharesWarrantsExercised
105000 shares
CY2012 prlb Issuance Of Common Stock In Connection With Follow On Offering
IssuanceOfCommonStockInConnectionWithFollowOnOffering
2451000
CY2012 prlb Number Of Product Lines
NumberOfProductLines
2 Product
CY2012 prlb Line Of Credit Facility Basis Spread On Variable Rate
LineOfCreditFacilityBasisSpreadOnVariableRate
0.015 pure
CY2012 prlb Number Of Geographic Divisions
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3 Location
CY2012 prlb Proceeds From Follow On Offering Net Of Costs
ProceedsFromFollowOnOfferingNetOfCosts
2451000
CY2012 prlb Effective Income Tax Rate Reconciliation Provision To Return
EffectiveIncomeTaxRateReconciliationProvisionToReturn
-0.001 pure
CY2012 prlb Effective Income Tax Rate Reconciliation Qualified Subsidiary Election
EffectiveIncomeTaxRateReconciliationQualifiedSubsidiaryElection
-0.035 pure
CY2012 prlb Emerging Growth Company Annual Gross Revenue Threshold
EmergingGrowthCompanyAnnualGrossRevenueThreshold
1000000000
CY2012 prlb Emerging Growth Company Non Convertible Debt Threshold
EmergingGrowthCompanyNonConvertibleDebtThreshold
1000000000
CY2012 prlb Employer Contributions Under Four Zero One K Retirement Plan
EmployerContributionsUnderFourZeroOneKRetirementPlan
500000
CY2012 prlb Incremental Common Shares Attributable To Employee Stock Options And Warrants
IncrementalCommonSharesAttributableToEmployeeStockOptionsAndWarrants
1070072 shares
CY2012 prlb Net Income Loss Available To Common Stockholders Basic Pro Forma
NetIncomeLossAvailableToCommonStockholdersBasicProForma
24025000
CY2012 prlb Number Of Equity Incentive Plans
NumberOfEquityIncentivePlans
2 EquityPlan
CY2012 prlb Proceeds From Exercise Of Warrants And Stock Options
ProceedsFromExerciseOfWarrantsAndStockOptions
2975000
CY2012 prlb Ratably Exercisable Option Granted Vesting Period
RatablyExercisableOptionGrantedVestingPeriod
P5Y
CY2012 prlb Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Description And Terms Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTermsPeriod
P8M15D
CY2012 prlb Minimum Service Period Of Employees To Avail Benefit Under Defined Contribution Benefit Plan
MinimumServicePeriodOfEmployeesToAvailBenefitUnderDefinedContributionBenefitPlan
P6M

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