Protolabs Announces $50 Million Increase to Existing Stock Repurchase Authorization
21 Novembro 2022 - 11:00AM
Business Wire
Proto Labs, Inc. ("Protolabs" or the "company") (NYSE: PRLB),
the world’s leading provider of digital manufacturing services,
announced today that on November 17, 2022 its board of directors
approved a $50 million increase in its authorized stock repurchase
program currently in effect, and extended the expiration date to
December 31, 2024.
This increase expands the existing stock repurchase program to
$200 million. As of November 21, 2022, Protolabs had repurchased an
aggregate dollar value of $111 million since the program was
initiated in 2017. The company now has $89 million remaining
available to repurchase shares under the expanded repurchase
program.
Under the current 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. The
company prioritizes organic investment to drive revenue and enhance
its platform of customer offerings. Next, Protolabs analyzes
potential strategic acquisition opportunities that could further
the company’s growth strategy. Finally, the company returns capital
to its shareholders through repurchases of its common stock.
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 Securities and Exchange Commission. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221121005166/en/
Investor Relations Contact Protolabs Ryan Johnsrud,
612-225-4873 Manager, Investor Relations and FP&A
ryan.johnsrud@protolabs.com
Media Contact Protolabs Brent Renneke, 763-479-7704 PR
& Media Strategist brent.renneke@protolabs.com
Proto Labs (NYSE:PRLB)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Proto Labs (NYSE:PRLB)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024