Protolabs Announces $50 Million Increase to Stock Repurchase Authorization
Under this authorization, Protolabs is not required to purchase shares, but may choose to do so in the open market or through private transactions at times and amounts determined by the company based on its evaluation of market conditions and other factors.
Protolabs’ capital allocation strategy remains unchanged. Protolabs focuses on serving our customers by first expanding capacity to maintain world class lead times through investments in equipment and facilities. The company then looks to invest in research and development to expand the envelope of existing services and improve the ecommerce experience of its customers. Next, Protolabs looks for potential acquisition opportunities that further the company’s growth strategy. Finally, the company provides the return realized by these investments to its shareholders through opportunistic stock repurchases.
About Protolabs
Protolabs is the world’s fastest digital
manufacturing source for rapid prototyping and on-demand production. The
technology-enabled company produces custom parts and assemblies in as
fast as 1 day with automated 3D printing, CNC machining, sheet metal
fabrication, and injection molding processes. Its digital approach to
manufacturing enables accelerated time to market, reduces development
and production costs, and minimizes risk throughout the product life
cycle. Visit protolabs.com
for more information.
Forward-Looking Statements
Statements contained in this
press release regarding matters that are not historical or current facts
are “forward-looking statements” within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements involve known
and unknown risks, uncertainties and other factors which may cause the
results of Protolabs to be materially different than those expressed or
implied in such statements. Certain of these risk factors and others are
described in the “Risk Factors” section within reports filed with the
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Source: Protolabs
Investor Relations Contact:
Protolabs
Dan Schumacher,
763-479-7240
Director of Investor Relations
daniel.schumacher@protolabs.com
Media Contact:
Protolabs
Sarah Ekenberg, 763-479-7560
Marketing
Manager, PR & Media
sarah.ekenberg@protolabs.com