Protolabs Announces $50 Million Increase to Stock Repurchase Authorization
10 Dezembro 2021 - 6:00PM
Business Wire
Protolabs (NYSE: PRLB) announced today that on December 8, 2021
its Board of Directors approved a $50 million increase in its
authorized stock repurchase program currently in effect, with an
expiration date of December 31, 2023. This authorization increases
the stock repurchase program to $150 million. As of December 7,
2021, Protolabs had repurchased an aggregate dollar value of $87
million, resulting in $63 million remaining available to purchase
common stock under the expanded stock repurchase program.
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 prioritizes organic investment to enhance its platform
and capacity with a focus on serving customers with world-class
lead times. The company also invests in research and development to
expand and enhance its envelope of service offerings to meet
additional customer needs. Next, Protolabs looks for potential
strategic 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 leading provider of digital
manufacturing services. The e-commerce-based company offers
injection molding, CNC machining, 3D printing, and sheet metal
fabrication to product developers, engineers, and supply chain
teams across the globe. Protolabs serves customers using in-house
production capabilities that bring unprecedented speed in tandem
with Hubs, a Protolabs Company, which serves customers through its
network of premium manufacturing partners. Together, they help
companies bring new ideas to market with the fastest and most
comprehensive digital manufacturing service in the world. 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 SEC. Other unknown or unpredictable factors also
could have material adverse effects on Protolabs’ future results.
The forward-looking statements included in this press release are
made only as of the date hereof. Protolabs cannot guarantee future
results, levels of activity, performance or achievements.
Accordingly, you should not place undue reliance on these
forward-looking statements. Finally, Protolabs expressly disclaims
any intent or obligation to update any forward-looking statements
to reflect subsequent events or circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20211210005424/en/
Investor Relations Contact: Protolabs Dan Schumacher,
763-479-7240 Interim Chief Financial Officer
daniel.schumacher@protolabs.com Media Contact: Protolabs Will
Martin, 763-479-7719 Director of Marketing Communications
will.martin@protolabs.com
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