Proto Labs (PRLB) 10-K 26 Feb 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2015	Feb. 17, 2016	Jun. 30, 2015
Entity Registrant Name	Proto Labs Inc
Entity Central Index Key	1,443,669
Trading Symbol	prlb
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		26,201,818
Entity Public Float			$ 1.6
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 47,653,000	$ 43,329,000
Short-term marketable securities	33,201,000	30,706,000
Accounts receivable, net of allowance for doubtful accounts of $330 and $198 as of December 31, 2015 and December 31, 2014, respectively	36,125,000	24,226,000
Inventory	9,771,000	6,194,000
Prepaid expenses and other current assets	5,224,000	$ 3,406,000
Income taxes receivable	6,028,000
Total current assets	138,002,000	$ 107,861,000
Property and equipment, net	125,475,000	91,626,000
Goodwill	28,916,000	28,916,000
Other intangible assets, net	3,337,000	4,083,000
Long-term marketable securities	64,789,000	54,318,000
Other long-term assets	517,000	227,000
Total assets	361,036,000	287,031,000
Current liabilities
Accounts payable	13,643,000	7,882,000
Accrued compensation	9,993,000	6,067,000
Accrued liabilities and other	$ 2,626,000	2,718,000
Income taxes payable		1,953,000
Current portion of long-term debt obligations		139,000
Total current liabilities	$ 26,262,000	18,759,000
Long-term deferred tax liabilities	$ 4,240,000	1,363,000
Long-term debt obligations		10,000
Other long-term liabilities	$ 2,889,000	1,360,000
Total liabilities	$ 33,391,000	$ 21,492,000
Shareholders' equity
Preferred stock, $0.001 par value, authorized 10,000,000 shares; issued and outstanding 0 shares as of December 31, 2015 and December 31, 2014, respectively
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 26,200,718 and 25,838,110 shares as of December 31, 2015 and December 31, 2014, respectively	$ 26,000	$ 26,000
Additional paid-in capital	198,835,000	180,960,000
Retained earnings	133,996,000	87,482,000
Accumulated other comprehensive loss	(5,212,000)	(2,929,000)
Total shareholders' equity	327,645,000	265,539,000
Total liabilities and shareholders' equity	$ 361,036,000	$ 287,031,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Allowance for doubtful accounts	$ 330	$ 198
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	26,200,718	25,838,110
Common stock, shares outstanding (in shares)	26,200,718	25,838,110

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statements of Operations:
Revenue	$ 264,106	$ 209,583	$ 163,112
Cost of revenue	109,703	81,182	61,410
Gross profit	154,403	128,401	101,702
Operating expenses
Marketing and sales	39,188	29,144	22,386
Research and development	18,350	16,607	11,863
General and administrative	29,716	22,122	16,154
Total operating expenses	87,254	67,873	50,403
Income from operations	67,149	60,528	51,299
Other income, net	712	3	279
Income before income taxes	67,861	60,531	51,578
Provision for income taxes	21,347	18,896	16,301
Net income	$ 46,514	$ 41,635	$ 35,277
Net income per share:
Basic (in dollars per share)	$ 1.79	$ 1.62	$ 1.40
Diluted (in dollars per share)	$ 1.77	$ 1.60	$ 1.36
Shares used to compute net income per share:
Basic (in shares)	26,005,858	25,692,699	25,198,556
Diluted (in shares)	26,320,284	26,100,320	25,859,741
Other Comprehensive Loss, net of tax
Foreign currency translation adjustments	$ (2,283)	$ (1,838)	$ (163)
Comprehensive income	$ 44,231	$ 39,797	$ 35,114

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2012	24,803,640
Balance at Dec. 31, 2012	$ 25	$ 147,032	$ 10,570	$ (928)	$ 156,699
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	742,467
Common shares issued on exercise of options and other	$ 1	6,495			6,496
Excess tax benefit from stock option exercises		9,873			9,873
Stock-based compensation expense		3,461			3,461
Net income			35,277		35,277
Other Comprehensive Loss, net of tax
Foreign currency translation adjustment				(163)	(163)
Comprehensive income					35,114
Balance (in shares) at Dec. 31, 2013	25,546,107
Balance at Dec. 31, 2013	$ 26	166,861	45,847	(1,091)	211,643
Other Comprehensive Loss, net of tax
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	742,467
Common shares issued on exercise of options and other	$ 1	6,495			6,496
Excess tax benefit from stock option exercises		9,873			9,873
Stock-based compensation expense		3,461			3,461
Net income			35,277		35,277
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	292,003
Common shares issued on exercise of options and other		4,820			4,820
Excess tax benefit from stock option exercises		4,470			4,470
Stock-based compensation expense		4,809			4,809
Net income			41,635		41,635
Foreign currency translation adjustment				(1,838)	(1,838)
Comprehensive income					$ 39,797
Balance (in shares) at Dec. 31, 2014	25,838,110				25,838,110
Balance at Dec. 31, 2014	$ 26	180,960	87,482	(2,929)	$ 265,539
Other Comprehensive Loss, net of tax
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	292,003
Common shares issued on exercise of options and other		4,820			4,820
Excess tax benefit from stock option exercises		4,470			4,470
Stock-based compensation expense		4,809			4,809
Net income			41,635		41,635
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	362,608
Common shares issued on exercise of options and other		6,254			6,254
Excess tax benefit from stock option exercises		5,539			5,539
Stock-based compensation expense		6,082			6,082
Net income			46,514		46,514
Foreign currency translation adjustment				(2,283)	(2,283)
Comprehensive income					$ 44,231
Balance (in shares) at Dec. 31, 2015	26,200,718				26,200,718
Balance at Dec. 31, 2015	$ 26	198,835	133,996	$ (5,212)	$ 327,645
Other Comprehensive Loss, net of tax
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	362,608
Common shares issued on exercise of options and other		6,254			6,254
Excess tax benefit from stock option exercises		5,539			5,539
Stock-based compensation expense		$ 6,082			6,082
Net income			$ 46,514		$ 46,514

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities
Net income	$ 46,514	$ 41,635	$ 35,277
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	14,126	11,138	7,569
Stock-based compensation expense	6,082	4,809	3,461
Deferred taxes	2,837	(1,875)	467
Excess tax benefit from stock-based compensation	$ (5,539)	$ (4,470)	(9,873)
Loss on disposal of property and equipment			$ 110
Gain on acquisition	$ (344)
Amortization of held-to-maturity securities	1,234	$ 1,517	$ 1,468
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(11,371)	(5,304)	(2,470)
Inventories	(2,097)	(896)	(579)
Prepaid expenses and other	(2,047)	107	1,630
Income taxes	(2,310)	9,373	8,845
Accounts payable	5,781	1,435	1,651
Accrued liabilities and other	5,691	(259)	885
Net cash provided by operating activities	58,557	57,210	48,441
Investing activities
Purchases of property and equipment	(44,362)	(43,507)	$ (18,753)
Cash used for acquisitions, net of cash acquired	(5,032)	(33,864)
Purchases of marketable securities	(66,393)	(60,186)	$ (106,298)
Proceeds from maturities of marketable securities	52,193	74,058	66,570
Net cash used in investing activities	(63,594)	(63,499)	(58,481)
Financing activities
Payments on debt	(152)	(1,054)	$ (258)
Acquisition-related contingent consideration	(1,400)	(1,200)
Proceeds from exercises of stock options and other	6,251	4,820	$ 6,496
Excess tax benefit from stock-based compensation	5,539	4,470	9,873
Net cash provided by financing activities	10,238	7,036	16,111
Effect of exchange rate changes on cash and cash equivalents	(877)	(457)	209
Net increase in cash and cash equivalents	4,324	290	6,280
Cash and cash equivalents, beginning of period	43,329	43,039	36,759
Cash and cash equivalents, end of period	47,653	43,329	43,039
Supplemental cash flow disclosure
Cash paid for interest	5	19	35
Cash paid for taxes	$ 20,330	$ 11,549	$ 6,593

Note 1 - Nature of Business

Note 1 - Nature of Business	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Nature of Operations [Text Block]	Note 1 — Nature of Business Organization and business Proto Labs, Inc. and its subsidiaries (Proto Labs, the Company, we, us, or our) is an online and technology-enabled manufacturer of quick-turn, on-demand 3D-printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. The Company’s customers are product developers and engineers throughout the world who require a faster and less expensive way to obtain low volumes of parts. The Company’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 product lines to the millions of product developers and engineers who use three-dimensional (3D) 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 among the largest geographic markets where these product developers and engineers are located. The Company’s primary manufacturing product lines currently include 3D Printing (Fineline), CNC Machining (Firstcut) and Injection Molding (Protomold). Proto Labs, Inc. is located in Maple Plain, Minnesota. The Company’s subsidiaries are: Name Location PL-US International LLC United States Proto Labs Ltd. United Kingdom PL Euro Services Ltd. United Kingdom PL International UK LLP United Kingdom PL International Holding UK Ltd. United Kingdom PLJ Ltd. United Kingdom Alphaform Ltd. United Kingdom PL DE Holding GmbH Germany Proto Labs GmbH Germany Proto Labs Eschenlohe GmbH Germany Alphaform RPI Oy Finland Alphaform Sweden AB Sweden Proto Labs, G.K. Japan

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2 — Summary of Significant Accounting Policies Principles of consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, as listed within organization and business above. All significant intercompany accounts and transactions have been eliminated in consolidation. Comprehensive income Components of comprehensive income include net income and foreign currency translation adjustments. Comprehensive income is disclosed in the accompanying consolidated statements of comprehensive income and consolidated statements of shareholders’ equity. Accounting estimates 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. Cash and cash equivalents Cash and cash equivalents include cash and other investments, including marketable securities, with maturities of three months or less at the date of purchase. The Company maintains its cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses on such accounts. Marketable securities Marketable securities include held-to-maturity debt securities recorded at amortized cost. Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. Debt securities are classified as held-to-maturity when the Company has the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization is included in other income, net. Interest on securities classified as held to maturity is included in other income, net. The classification of marketable securities as current or non-current is dependent upon the security’s maturity date. Securities with maturities of three months or less at the time of purchase are categorized as cash equivalents as described above. The Company reviews impairments associated with its marketable securities in accordance with the measurement guidance provided by Accounting Standards Codification (ASC) 320, Investments – Debt and Equity Securities, Accounts receivable and allowance for doubtful accounts Accounts receivable are reported at the invoiced amount less an allowance for doubtful accounts. On a periodic basis, the Company evaluates its accounts receivable and establishes an allowance for doubtful accounts based on a combination of specific customer circumstances and credit conditions taking into account the history of write-offs and collections. A receivable is considered past due if payment has not been received within the period agreed upon in the invoice. Accounts receivable are written off after all collection efforts have been exhausted. Recoveries of trade receivables previously written off are recorded when received. Inventory Inventory consists primarily of raw materials, which are recorded at the lower of cost or market, using the average-cost method, which approximates first-in, first-out (FIFO) cost. The Company periodically reviews its inventory for slow-moving, damaged and discontinued items and provides allowances to reduce such items identified to their recoverable amounts. Property, equipment and leasehold improvements Property, equipment and leasehold improvements are stated at cost. Major improvements that substantially extend an asset’s useful life are capitalized. Repairs, maintenance and minor improvements are charged to operations as incurred. Depreciation, including amortization of leasehold improvements and assets recorded under capital leases, is calculated using the straight-line method over the estimated useful lives of the individual assets and ranges from 3 to 39 years. Manufacturing equipment is depreciated over 3 to 15 years, office furniture and equipment are depreciated over 3 to 7 years, computer hardware and software are depreciated over 3 to 5 years, building costs are depreciated over 39 years, leasehold improvements are depreciated over the estimated lives of the related assets or the life of the lease, whichever is shorter, and building and land improvements are depreciated over 10 to 39 years. Assets not in service are not depreciated until the related asset is put into use. In August 2015, the Company adjusted the useful lives of its primary production equipment based on experience and condition of current equipment. This change in accounting estimate is accounted for prospectively, and therefore had no effect on property and equipment, net as previously reported. This change was not material. Goodwill The Company recognizes goodwill in accordance with ASC 350, Intangibles — Goodwill and Other Other Intangible Assets Other intangible assets include internally developed software, customer relationships and other intangible assets acquired from an independent party. Other intangible assets with a definite life are amortized over a period ranging from two to 10 years on a straight line basis. Other intangible assets with a definite life are tested for impairment whenever events or circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. An impairment loss is recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows used in determining the fair value of the asset. The amount of the impairment loss recorded is calculated by the excess of the asset’s carrying value over its fair value. Accounting for long-lived assets The Company periodically reviews the carrying amount of its property, equipment and leasehold improvements to determine if circumstances exist indicating an impairment or if depreciation periods should be modified. If facts or circumstances support the possibility of impairment, the Company will prepare a projection of the undiscounted future cash flows of the specific assets to determine if the assets are recoverable. If impairment exists based on these projections, an adjustment will be made to reduce the carrying amount of the specific assets to fair value. Revenue recognition The Company recognizes revenue when it is realized or realizable and earned when all of the following criteria are met: persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price to the buyer is fixed or determinable and collectability is reasonably assured. Revenue is recognized upon transfer of title and risk of loss, which is generally upon the shipment of parts in our 3D Printing (Fineline), CNC Machining (Firstcut) and Injection Molding (Protomold) product lines. Freight billed to customers is included in revenues, and all freight expenses paid by the Company are included in cost of revenue. Income taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements by requiring that individual tax positions are recorded only when they meet a more-likely-than-not criterion. Additionally, ASC 740 provides guidance on measurement, de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Stock-based compensation The Company accounts for stock-based compensation in accordance with ASC 718, Compensation—Stock Compensation In determining the compensation cost of the options granted, the fair value of options granted has been estimated on the date of grant using the Black-Scholes option-pricing model. Advertising costs Advertising is expensed as incurred and was approximately $10.0 million, $8.5 million and $6.8 million for the years ended December 31, 2015, 2014 and 2013, respectively. Research and development Research and development expenses consist primarily of personnel and outside service costs related to the development of new processes and product lines, enhancement of existing product lines, quality assurance and testing. The Company follows ASC 350-40, Internal - Use Softwar e Foreign currency translation/transactions The Company translated the balance sheets of its foreign subsidiaries at period-end exchange rates and the income statement at the average exchange rates in effect throughout the period. The Company has recorded the translation adjustment as a separate component of consolidated shareholders’ equity. Foreign currency transaction gains and losses are recognized in the consolidated statements of comprehensive income. Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2014-09, Revenue from Contracts with Customers On July 9, 2015, the FASB voted to approve a deferral of the effective date of ASU 2014-09 by one year to December 15, 2017 for annual reporting periods beginning after that date. The Company is evaluating the application method and the impact of this new standard on our financial statements, but does not expect the impact to be material. In April 2015, the FASB issued ASU No. 2015-05, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments On November 20, 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes

Note 3 - Net Income Per Common

Note 3 - Net Income Per Common Share	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 3 – Net I ncome P er C ommon S hare Basic net income per share is computed based on the weighted average number of common shares outstanding. Diluted net income per share is computed based on the weighted average number of common shares outstanding, increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased from the proceeds from issuance of the potentially dilutive shares. Potentially dilutive shares of common stock include stock options and other stock-based awards granted under stock-based compensation plans and shares committed to be purchased under the employee stock purchase plan. The following table presents the calculation of net income per basic and diluted share attributable to common shareholders: Year Ended December 31, (in thousands, except share and per share amounts) 2015 2014 2013 Net Income $ 46,514 $ 41,635 $ 35,277 Basic - weighted-average shares outstanding: 26,005,858 25,692,699 25,198,556 Effect of dilutive securities: Employee stock options and other 314,426 407,621 661,185 Diluted - weighted-average shares outstanding: 26,320,284 26,100,320 25,859,741 Net income per share attributable to common shareholders: Basic $ 1.79 $ 1.62 $ 1.40 Diluted $ 1.77 $ 1.60 $ 1.36

Note 4 - Business Combinations

Note 4 - Business Combinations	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 4 – Business Combinations On October 1, 2015, the Company acquired certain assets, including shares of select subsidiaries, of Alphaform AG (Alphaform) through insolvency proceedings administered through the Insolvency Court of Munich, Germany. Included in the acquisition were select assets of Alphaform AG and Alphaform Claho GmbH and shares of Alphaform RPI Oy and Alphaform Ltd., for $5.0 million net cash consideration, which was funded with cash available in the United States and Europe. The operations of Alphaform will be integrated into the operations of the Company. Alphaform is a leading service bureau headquartered in Feldkirchen (Munich), Germany and also has locations in Eschenlohe, Germany; Rusko, Finland and Reading, UK. Alphaform produces high-quality parts using stereolithography (SL), selective laser sintering (SLS) and direct metal laser sintering (DMLS) technologies as well as injection molding capabilities and other production processes. The revenue associated with these processes will be reported under the 3D Printing, Injection Molding and Other product lines. The results of Alphaform since the date of acquisition and pro forma disclosures of the consolidated results of the Company with the full year effects of Alphaform have not been separately presented since the impact to the Company's results of operations was not material. The acquisition has been accounted for under the acquisition method of accounting in accordance with ASC 805. Because Alphaform was insolvent, the fair value of the assets purchased and liabilities assumed exceeded the fair value of consideration paid, which resulted in a bargain purchase gain of $0.3 million. The bargain purchase gain has been recorded in Other Income, Net in the Consolidated Statement of Comprehensive Income for the year ended December 31, 2015. As of December 31, 2015, this allocation for Alphaform is final as it relates to the valuation of certain working capital accounts, intangible assets and taxes. The final allocation of the purchase price to assets acquired and liabilities assumed is as follows: (in thousands) Assets acquired: Current assets $ 2,766 Other long-term assets 3,876 Total assets acquired 6,642 Liabilities assumed: Current liabilities 1,266 Total liabilities assumed 1,266 Net assets acquired $ 5,376 Cash paid $ 5,570 Cash acquired (538 ) Total purchase consideration $ 5,032 Gain recognized on bargain purchase $ 344 On April 23, 2014, the Company acquired 100% of the outstanding shares of FineLine Prototyping, Inc. (FineLine) for $33.9 million net cash consideration, which was funded with cash available in the United States and the sale of $15.5 million of held-to-maturity securities. The shares of FineLine acquired through the Stock Purchase Agreement (the Agreement) were purchased in a private transaction exempt from registration under the Securities Act of 1933 and the operations of FineLine will be integrated into the operations of the Company. Under the terms of the Agreement, the Company is obligated to make additional cash payments totaling up to $3.0 million, contingent upon both the achievement of 2014 revenue goals and certain milestones relating to the integration of FineLine’s operations with the Company. As of December 31, 2015, the Company had made payments of $2.6 million related to the attainment of milestones and as of December 31, 2015, the contingent consideration balance totaled $0.4 million, which is classified under Accrued Liabilities and Other on the Consolidated Balance Sheet. FineLine is based in Raleigh, North Carolina and is a leading producer of parts using additive manufacturing technologies, often times referred to as 3D printing. FineLine produces high-quality parts using stereolithography (SLA), selective laser sintering (SLS) and direct metal laser sintering (DMLS) technologies to customers in a wide variety of industries, including medical, aerospace, computer/electronics, consumer products and industrial machinery, among others. Consistent with the provisions of ASC 805, Business Combinations The fair value of the consideration paid for this acquisition was allocated to the assets purchased and liabilities assumed based on their estimated fair values as of the acquisition date, with any excess recorded as goodwill. The goodwill associated with the acquisition is deductible for tax purposes and represents the strategic and growth opportunities from strengthening the Company’s portfolio of rapid prototyping product offerings. The addition of additive manufacturing expands Proto Labs’ products to address a wider spectrum of needs for the product developer and engineer. From concept models, to form and fit testing, to functional testing and short-run production, the acquisition of FineLine allows the Company to offer a broader range of quick-turn, on-demand custom parts with speed, reliability and consistency. The FineLine acquisition was accounted for under the acquisition method of accounting in accordance with ASC 805. The final allocation of the purchase price to assets acquired and liabilities assumed is as follows: (in thousands) Assets acquired: Current assets $ 1,248 Intangible assets 4,580 Goodwill 28,916 Other long-term assets 3,849 Total assets acquired 38,593 Liabilities assumed: Current liabilities 1,729 Total liabilities assumed 1,729 Net assets acquired 36,864 Cash paid 34,468 Cash acquired (604 ) Net cash consideration 33,864 Contingent consideration 3,000 Total purchase consideration $ 36,864

Note 5 - Goodwill and Other Int

Note 5 - Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 5 – Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill for the year ended December 31, 2015 and 2014 were as follows: December 31, (in thousands) 2015 2014 Balance as of the beginning of the period $ 28,916 $ - Goodwill acquired during the period - 28,916 Balance as of the end of the period $ 28,916 $ 28,916 Intangible assets other than goodwill for the years ended December 31, 2015 and 2014 were as follows: Year Ended December 31, 2015 Year Ended December 31, 2014 Weighted (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Useful Average Useful Life Remaining (in years) Intangible Assets with finite lives: Marketing assets $ 930 $ (155 ) $ 775 $ 930 $ (62 ) $ 868 10.0 8.3 Non-compete agreement 190 (158 ) 32 190 (63 ) $ 127 2.0 0.3 Trade secrets 250 (83 ) 167 250 (33 ) $ 217 5.0 3.3 Internally developed software 680 (378 ) 302 680 (151 ) $ 529 3.0 1.3 Customer relationships 2,530 (469 ) 2,061 2,530 (188 ) $ 2,342 9.0 7.3 Total intangible assets $ 4,580 $ (1,243 ) $ 3,337 $ 4,580 $ (497 ) $ 4,083 Amortization expense for intangible assets was $0.7 million and $0.5 million for the years ended December 31, 2015 and 2014, respectively. Estimated aggregated amortization expense based on the current carrying value of the amortizable intangible assets is as follows: (in thousands) Estimated Amortization Expense 2016 $ 682 2017 500 2018 424 2019 391 2020 374 Thereafter 966 Total estimated amortization expense $ 3,337

Note 6 - Fair Value Measurement

Note 6 - Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 6 – Fair V alue M easurements ASC 820, Fair Value Measuremen Level 1 Level 2 Level 3 The Company’s cash equivalents measured at fair value as of December 31, 2015 and 2014, respectively, consist of money market mutual funds. The Company determines the fair value of these financial assets using Level I inputs. A summary of financial assets measured at fair value on a recurring basis is as follows: December 31, 2015 December 31, 2014 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents Money market mutual fund $ 11,896 $ - $ - $ 6,129 $ - $ - Total $ 11,896 $ - $ - $ 6,129 $ - $ -

Note 7 - Marketable Securities

Note 7 - Marketable Securities	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Investment [Text Block]	Note 7 – Marketable Securities The Company invests in short-term and long-term agency, municipal, corporate, commercial paper and other debt securities. The securities are categorized as held-to-maturity and are recorded at amortized cost. Categorization as held-to-maturity is based on the Company’s ability and intent to hold these securities to maturity. Information regarding the Company’s short-term and long-term marketable securities as of December 31, 2015 and 2014 is as follows: December 31, 2015 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government agency securities $ 26,784 $ 2 $ (99 ) $ 26,687 Corporate debt securities 28,133 - (114 ) 28,019 Commercial paper 1,497 - (2 ) 1,495 U.S. municipal securities 35,667 8 (56 ) 35,619 Certificates of deposit/time deposits 5,909 2 (11 ) 5,900 Total marketable securities $ 97,990 $ 12 $ (282 ) $ 97,720 December 31, 2014 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government agency securities $ 20,048 $ - $ (71 ) $ 19,977 Corporate debt securities 29,316 7 (79 ) 29,244 U.S. municipal securities 30,004 32 (18 ) 30,018 Certificates of deposit/time deposits 5,656 5 (15 ) 5,646 Total marketable securities $ 85,024 $ 44 $ (183 ) $ 84,885 Fair values for the corporate debt securities are primarily determined based on quoted market prices (Level 1). Fair values for the U.S. municipal securities, U.S. government agency securities and certificates of deposit are primarily determined using dealer quotes or quoted market prices for similar securities (Level 2). The Company tests for other than temporary losses on a quarterly basis and has considered the unrealized losses indicated above to be temporary in nature. The investment policy adopted by the Company dictates that only investments in quality, highly rated debt securities are permitted. Those unrealized losses displayed above are the result of macroeconomic factors and are indicative of neither the quality of the underlying security nor the issuer’s ability to pay its debt. The Company intends, and has the ability, to hold the investments to maturity and recover the full principal. Classification of marketable securities as current or non-current is based upon the security’s maturity date as of the date of these financial statements. The December 31, 2015 balance of held-to-maturity debt securities by contractual maturity is shown in the following table at amortized cost. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. December 31, (in thousands) 2015 Due in one year or less $ 33,201 Due after one year through five years 64,789 Total marketable securities $ 97,990

Note 8 - Property and Equipment

Note 8 - Property and Equipment	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 8 – Property and Equipment Property and equipment consists of the following: December 31, (in thousands) 2015 2014 Land $ 8,301 $ 6,825 Buildings and improvements 37,297 29,995 Machinery and equipment 103,205 72,891 Computer hardware and software 13,273 10,738 Leasehold improvements 3,404 3,501 Construction in progress 6,712 4,004 Capital leases - machinery and equipment - 1,167 Total 172,192 129,121 Accumulated depreciation and amortization (46,717 ) (37,495 ) Property and equipment, net $ 125,475 $ 91,626 Depreciation expense for the years ended December 31, 2015, 2014 and 2013 was $13.4 million, $10.6 million and $7.6 million, respectively.

Note 9 - Inventory

Note 9 - Inventory	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 9 – Inventory Inventory consists primarily of raw materials, which are recorded at the lower of cost or market using the average-cost method, which approximates first-in, first-out (FIFO) cost. The Company periodically reviews its inventory for slow-moving, damaged and discontinued items and provides allowances to reduce such items identified to their recoverable amounts. The Company’s inventory consists of the following: December 31, (in thousands) 2015 2014 Raw materials $ 8,589 $ 5,728 Work in process 1,529 653 Total inventory 10,118 6,381 Allowance for obsolescence (347 ) (187 ) Inventory, net of allowance $ 9,771 $ 6,194

Note 10 - Financing Obligations

Note 10 - Financing Obligations	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 10 – Financing Obligations The Company’s debt consists of the following: December 31, (in thousands) 2015 2014 Various obligations under capital leases, with interest rates from 6.8% to 7.4%, due in various monthly installments, including interest, through various dates through January 2016, secured by equipment $ - $ 149 Less current portion - 139 Long-term obligation $ - $ 10

Note 11 - Employee Benefit Plan

Note 11 - Employee Benefit Plans	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	Note 11 – Employee Benefit Plans The Company maintains a 401(k) retirement plan that covers most of its employees. Under the plan, a full-time or regular part-time (over 20 hours/week) employee becomes a participant after completing three months of employment. Employees may elect to contribute up to 50 percent of regular gross pay, subject to federal law limits on the dollar amount that participants may contribute to the plan, each calendar year. The Company matches part of the employee contributions and may make a discretionary contribution to the plan. Total employer contributions were approximately $1.2 million, $0.8 million and $0.6 million for the years ended December 31, 2015, 2014 and 2013, respectively. The Company also sponsors a defined contribution retirement plan that covers the employees of Proto Labs Limited. Total employer contributions were approximately $0.2 million for the year ended December 31, 2015, and immaterial for each of the years ended December 31, 2014 and 2013.

Note 12 - Stock-based Compensat

Note 12 - Stock-based Compensation	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 12 – Stock-Based Compensation The Company has two equity incentive plans: the 2000 Stock Option Plan (2000 Plan) and the 2012 Long-Term Incentive Plan (2012 Plan). Upon the adoption of the 2012 Plan on February 21, 2012, all shares that were reserved under the 2000 Plan but not issued were assumed by the 2012 Plan. No additional shares will be issued under the 2000 Plan. Under the 2012 Plan, the Company has the ability to grant stock options, stock appreciation rights (SARs), restricted stock, stock units, other stock-based awards and cash incentive awards. Awards under the 2012 Plan have a maximum term of ten years from the date of grant. The compensation committee of the board of directors may provide that the vesting or payment of any award will be subject to the attainment of specified performance measures in addition to the satisfaction of any continued service requirements, and the compensation committee will determine whether such measures have been achieved. The per share exercise price of stock options and SARs granted under the 2012 Plan generally may not be less than the fair market value of a share of our common stock on the date of the grant. The Company’s 2012 Employee Stock Purchase Plan (ESPP) allows eligible employees to purchase shares of the Company’s common stock at a discount through payroll deductions of up to 15 percent of their eligible compensation, subject to plan limitations. The ESPP provides for six-month offering periods, and at the end of each offering period, employees are able to purchase shares at 85 percent of the lower of the fair market value of the Company’s common stock on the first trading day of the offering period or on the last trading day of the offering period. Employees purchased 31,905 and 25,393 shares of common stock at an average exercise price of $53.64 and $52.22 during 2015 and 2014, respectively. As of December 31, 2015, 1,325,792 shares remained available for future issuance under the ESPP. The Company determines its stock-based compensation in accordance with ASC 718, which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and non-employee directors based on fair value. Determining the appropriate fair value model and calculating the fair value of stock option grants requires the input of subjective assumptions. The Company uses the Black-Scholes option pricing model to value its stock option awards. Stock-based compensation expense is calculated using the Company’s best estimates, which involve inherent uncertainties and the application of management’s judgment. Significant estimates include its expected term, fair value of Company common stock, stock price volatility and forfeiture rates. The expected term represents the weighted average period that the Company’s stock options are expected to be outstanding. The expected term is based on the observed and expected time to post-vesting exercise of options by employees and non-employee directors and considers the impact of post-vesting award forfeitures. Prior to its IPO, the Company estimated the fair value of its common stock using the assistance of an independent third-party valuation specialist using the income and market approach. As the Company operated as a private company with a limited market for its stock from the Company’s inception to the completion of its IPO on February 29, 2012, the Company estimates its stock price volatility based on the volatility of a peer group of comparable publicly traded companies for which historical information is available. The Company bases the risk-free interest rate that it uses in the Black-Scholes option pricing model on U.S. Treasury instruments with maturities similar to the expected term of the award being valued. The Company has never paid and does not anticipate paying, any cash dividends in the foreseeable future and, therefore, the Company uses an expected dividend yield of zero in the option pricing model. In order to properly attribute compensation expense, the Company is required to estimate pre-vesting forfeitures at the time of grant and revise those estimates in subsequent periods if actual forfeitures differ from those estimates. The Company uses historical data to estimate pre-vesting forfeitures and record stock-based compensation expense for those awards that are expected to vest. If the Company’s actual forfeiture rate is materially different from its estimate, stock-based compensation expense could be significantly different from what has been recorded. The Company allocates stock-based compensation expense on a straight-line basis over the requisite service period. The following table summarizes stock-based compensation expense for the years ended December 31, 2015, 2014 and 2013, respectively: Year Ended December 31, (in thousands) 2015 2014 2013 Stock options and other $ 5,580 $ 4,386 $ 3,084 Employee stock purchase plan 502 423 377 Total stock-based compensation expense $ 6,082 $ 4,809 $ 3,461 Cost of revenue $ 513 $ 386 $ 316 Operating expenses: Marketing and sales 1,074 927 610 Research and development 1,285 1,048 754 General and administrative 3,210 2,448 1,781 Total stock-based compensation expense $ 6,082 $ 4,809 $ 3,461 Income tax benefits (1,859 ) (1,524 ) (847 ) Total stock-based compensation expense, net of tax $ 4,223 $ 3,285 $ 2,614 Stock Options The following table provides the assumptions used in the Black-Scholes option pricing model for the years ended December 31, 2015, 2014 and 2013: Year Ended December 31, 2015 2014 2013 Risk-free interest rate 1.69 - 1.77% 0.43 - 2.14% 1.03 - 1.98% Expected life (years) 5.50 - 6.50 2.00 - 6.50 5.50 - 6.50 Expected volatility 46.80 - 47.23% 47.29 - 49.30% 49.36 - 53.54% Expected dividend yield 0% 0% 0% Weighted average grant date fair value $ 32.42 $ 32.65 $ 25.86 The following table summarizes stock option activity and the weighted average exercise price for the years ended December 31, 2015, 2014 and 2013: Weighted- Average Stock Options Exercise Price Options outstanding at January 1, 2013 1,691,357 $ 11.11 Granted 187,615 49.69 Exercised (695,777 ) 7.79 Cancelled (39,945 ) 23.48 Options outstanding at December 31, 2013 1,143,250 19.03 Granted 116,050 72.17 Exercised (253,544 ) 13.77 Cancelled (6,769 ) 26.23 Options outstanding at December 31, 2014 998,987 26.49 Granted 110,335 67.36 Exercised (316,761 ) 14.36 Cancelled (26,519 ) 51.72 Options outstanding at December 31, 2015 766,042 $ 36.52 Exercisable at December 31, 2015 409,301 $ 19.28 The outstanding options generally have a term of 10 years. For employees, options that have been granted become exercisable ratably over the vesting period, which is generally a five-year period, beginning on the first anniversary of the grant date, subject to the employee’s continuing service to the Company. For directors, options generally become exercisable in full on the first anniversary of the grant date. The total intrinsic value of options exercised during the years ended December 31, 2015, 2014 and 2013, was $18.6 million, $16.3 million and $33.2 million, respectively. The aggregate intrinsic value represents the cumulative difference between the fair market value of the underlying common stock and the option exercise prices. For options outstanding at December 31, 2015, the weighted-average remaining contractual term was 6.5 years and the aggregate intrinsic value was $22.2 million. For options exercisable at December 31, 2015, the weighted-average remaining contractual term was 5.3 years and the aggregate intrinsic value was $18.4 million. Refer to the table below for additional information. The following table summarizes information about stock options outstanding at December 31, 2015: Options Outstanding, Vested and Expected to Vest Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life Weighted Average Exercise Price ($) Number Exercisable Weighted Average Exercise Price ($) $ 0.00 to $ 7.85 59,441 2.76 $ 5.03 59,441 $ 5.03 $ 7.86 206,955 4.98 7.86 206,955 7.86 $ 7.87 to $ 31.43 138,831 6.15 28.19 72,495 27.22 $ 31.44 to $ 47.15 88,146 7.10 45.14 19,504 42.70 $ 47.16 to $ 66.87 96,474 7.87 57.52 36,934 55.87 $ 66.88 to $ 78.59 176,195 8.75 71.54 13,972 78.53 The fair value of share-based payment transactions is recognized in the consolidated statements of comprehensive income. As of December 31, 2015, there was $7.0 million of total unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted average period of 3.1 years. The total fair value of options vested was $2.8 million, $3.2 million and $2.4 million for the years ended December 31, 2015, 2014 and 2013, respectively. Restricted Stock The 2012 Plan provides for the award of restricted stock or restricted stock units. Restricted stock awards are share settled and restrictions lapse ratably over the vesting period, which is generally a five-year period, beginning on the first anniversary of the grant date, subject to the employee’s continuing service to the Company. For directors, restrictions generally lapse in full on the first anniversary of the grant date. The following table summarizes restricted stock activity for the years ended December 31, 2015 and 2014: Weighted- Average Grant Date Restricted Fair Value Stock Awards Per Share Restricted stock at January 1, 2014 - $ - Granted 77,647 69.18 Restrictions lapsed (798 ) 62.68 Forfeited (275 ) 62.68 Restricted stock at December 31, 2014 76,574 69.27 Granted 68,580 68.89 Restrictions lapsed (16,863 ) 69.25 Forfeited (3,898 ) 72.14 Restricted stock at December 31, 2015 124,393 $ 68.97 As of December 31, 2015, there was $6.6 million of unrecognized compensation expense related to non-vested restricted stock, which is expected to be recognized over a weighted-average period of 3.7 years. Employee Stock Purchase Plan The following table presents the assumptions used to estimate the fair value of the ESPP during the years ended December 31, 2015, 2014 and 2013: Year ended December 31, 2015 2014 2013 Risk-free interest rate 0.08 - 0.39% 0.01 - 0.11% 0.11 - 0.13% Expected life (months) 6.00 6.00 6.00 Expected volatility 29.41 - 37.64% 37.64 - 39.80% 39.80 - 53.32% Expected dividend yield 0% 0% 0%

Note 13 - Commitments

Note 13 - Commitments	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 1 3 – Commitments The Company leases property from third parties. The Company leases a portion of its U.S. facilities, and the lease terms expire between July 2017 and May 2018. The Company also leases office space in France, Germany and Italy with terms expiring at various times from 2015 to 2023. The Company leases an office and manufacturing space in Japan, and the initial term expires in November 2021. The Company has the ability to terminate this lease, with no penalty, upon six months’ notice. The Company also leases office and manufacturing space for Alphaform in Germany and Finland with terms expiring at various times from 2016 to 2018. Future minimum commitments under non-cancelable leases at December 31, 2015, are as follows: Operating Leases (in thousands) Years Ending December 31, 2016 $ 2,041 2017 1,196 2018 825 2019 490 2020 462 After 2020 703 Total future minimum lease payments $ 5,717 Rental expense was approximately $1.4 million, $1.0 million and $1.2 million for the years ended December 31, 2015, 2014 and 2013, respectively.

Note 14 - Accumulated Other Com

Note 14 - Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Disclosure of Reclassification Amount [Text Block]	Note 14 – Accumulated Other Comprehensive Income Other comprehensive income is comprised entirely of foreign currency translation adjustments. The following table presents the changes in accumulated other comprehensive income balances for the years ending December 31, 2015, 2014 and 2013, respectively: Year Ended December 31, (in thousands) 2015 2014 2013 Foreign currency translation adjustments Balance at beginning of period $ (2,929 ) $ (1,091 ) $ (928 ) Other comprehensive loss before reclassifications (2,283 ) (1,838 ) (163 ) Amounts reclassified from accumulated other comprehensive income (loss) - - - Net current-period other comprehensive loss (2,283 ) (1,838 ) (163 ) Balance at end of period $ (5,212 ) $ (2,929 ) $ (1,091 )

Note 15 - Income Taxes

Note 15 - Income Taxes	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 1 5 – Income Taxes The Company is subject to income tax in multiple jurisdictions and the use of estimates is required to determine the provision for income taxes. For the years ended December 31, 2015, 2014 and 2013, the Company recorded an income tax provision of $21.3 million, $18.9 million and $16.3 million, respectively. The effective income tax rate for the years ended December 31, 2015, 2014 and 2013 was 31.5 percent, 31.2 percent and 31.6 percent, respectively. The provision for income taxes is based on income before income taxes reported for financial statement purposes. The components of income before income taxes are as follows: Year Ended December 31, (in thousands) 2015 2014 2013 Domestic $ 59,421 $ 51,052 $ 45,659 Foreign 8,440 9,479 5,919 Total $ 67,861 $ 60,531 $ 51,578 Significant components of the provision for income taxes for the following periods are as follows: Year Ended December 31, (in thousands) 2015 2014 2013 Current: Federal $ 15,845 $ 17,413 $ 13,934 State 1,074 1,185 379 Foreign 1,591 2,149 1,762 Deferred Federal 2,798 (1,821 ) 168 State (38 ) (17 ) (39 ) Foreign 294 130 (335 ) Valuation Allowance (217 ) (143 ) 432 Total $ 21,347 $ 18,896 $ 16,301 A reconciliation of the federal statutory income tax rate to the effective tax rate is as follows: Year Ended December 31, 2015 2014 2013 Federal tax statutory rate 35.0 % 35.0 % 35.0 % State tax (net of federal benefit) 0.5 0.5 0.6 Qualified subsidiary election 0.6 0.2 (0.8 ) Valuation allowance against deferred tax assets (0.3 ) (0.2 ) 0.8 Research and development credit (2.9 ) (0.8 ) (1.8 ) Foreign rate differential (1.8 ) (2.1 ) (1.6 ) Tax reserves 1.5 0.4 0.6 Domestic manufacturing deduction (1.4 ) (2.1 ) (1.1 ) Miscellaneous 0.3 0.3 (0.1 ) Total 31.5 % 31.2 % 31.6 % On January 2, 2013, the American Taxpayer Relief Act of 2012 (the Act) was signed into law. Included in the Act was the extension of the research and development credit for years 2012 and 2013. As the Act was enacted during 2013, the federal portion of the 2012 research and development credit was recognized in the first quarter of 2013. The Company recorded a tax benefit of $0.5 million for the 2012 federal research credit, which translated to an effective income tax rate reduction of 0.9 percent for the year ended December 31, 2013. Significant components of deferred tax assets and liabilities are as follows: December 31, (in thousands) 2015 2014 Deferred tax assets: Accrued expenses $ 628 $ 378 Warrants and stock options 2,828 2,152 Intangibles 499 319 Inventories 177 172 Other assets 856 527 Net operating loss 2,409 2,842 Less valuation allowance (2,625 ) (3,048 ) Total deferred tax assets 4,772 3,342 Deferred tax liabilities: Depreciation (7,945 ) (4,246 ) Goodwill (1,067 ) (430 ) Total deferred tax liabilities (9,012 ) (4,676 ) Net deferred tax liability $ (4,240 ) $ (1,334 ) The Company has recorded no U.S. deferred taxes related to the undistributed earnings of its non-U.S. subsidiaries as of December 31, 2015. Such amounts are intended to be reinvested outside of the United States indefinitely. It is not practicable to estimate the amount of additional tax that might be payable on the foreign earnings. As of December 31, 2015, the Company had accumulated undistributed earnings in non-U.S. subsidiaries of $25.8 million. As of December 31, 2015, the Company had estimated net operating loss carry forwards of $2.4 million for tax purposes. The net operating losses primarily relate to Japan operations and can be carried forward for ten years but are limited to 65 percent of taxable income. The net operating losses begin to expire at various dates between 2018 and 2023. The Company’s Japan operations are taxed both by local authorities and in the U.S. Accordingly, a portion of Japan’s net operating losses has been recognized as a benefit in the U.S. The Company establishes valuation allowances for deferred tax assets when, after consideration of all positive and negative evidence, it is considered more-likely-than-not that a portion of the deferred tax assets will not be realized. The Company's valuation allowances of $2.6 million and $3.0 million at December 31, 2015 and December 31, 2014, respectively, reduce the carrying value of deferred tax assets associated with certain net operating loss carry forwards and other assets with insufficient positive evidence for recognition. The decrease in the valuation allowance is primarily attributable to fluctuations in foreign currency and the recognition of net operating losses against Japan’s 2015 taxable income. The Company files a U.S. federal income tax return and income tax returns in various states and foreign jurisdictions. With a few exceptions, the Company is no longer subject to U.S. federal, state, or foreign income tax examinations by tax authorities for years before 2011. The Company has liabilities related to unrecognized tax benefits totaling $2.8 million and $1.3 million at December 31, 2015 and 2014, respectively, that if recognized would result in a reduction of the Company’s effective tax rate. The liabilities are classified as other long-term liabilities in the accompanying consolidated balance sheets. The Company does not anticipate that total unrecognized tax benefits will materially change in the next twelve months. The Company recognizes interest and penalties related to income tax matters in income tax expense and reports the liability in current or long-term income taxes payable as appropriate. Interest and penalties were immaterial for each of the years ended December 31, 2015, 2014 and 2013. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: December 31, 2015 2014 Balance at beginning of period $ 1,295 $ 695 Additions for tax positions of current year 919 632 Additions for tax positions of prior years 555 344 Decrease related to expiration of statutes of limitations - (376 ) Balance at period end $ 2,769 $ 1,295

Note 16 - Litigation

Note 16 - Litigation	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	Note 1 6 – Litigation From time to time, the Company may be subject to various legal proceedings and claims that arise in the ordinary course of its business. Although the results of litigation and claims cannot be predicted with certainty, the Company does not believe it is a party to any litigation the outcome of which, if determined adversely, would individually or in the aggregate be reasonably expected to have a material adverse effect on its business.

Note 17 - Segment and Geographi

Note 17 - Segment and Geographic Information	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 17 – Segment and Geographic Information The Company’s CEO, who is the Company’s chief operating decision maker, makes decisions to operate the business and allocate resources based on review of operating results at the consolidated level. As a result, the Company has determined that it has only one operating segment, and therefore, one reportable segment. The Company’s revenue is derived from its Injection Molding (Protomold), CNC Machining (Firstcut) and 3D Printing (Fineline) product lines. Total revenue by product lines is as follows: Year Ended December 31, (in thousands) 2015 2014 2013 Revenue: Injection Molding (Protomold) $ 163,387 $ 140,282 $ 115,069 CNC Machining (Firstcut) 74,368 59,914 48,043 3D Printing (Fineline) 25,132 9,387 - Other 1,219 - - Total revenue $ 264,106 $ 209,583 $ 163,112 Revenue from external customers based on the billing location of the end user customer and long-lived assets by geographic region are as follows: Year Ended December 31, (in thousands) 2015 2014 2013 Revenue: United States $ 194,065 $ 156,033 $ 119,870 International 70,041 53,550 43,242 Total revenue $ 264,106 $ 209,583 $ 163,112 December 31, (in thousands) 2015 2014 Long-lived assets: United States $ 98,633 $ 76,923 International 26,842 14,703 Total long-lived assets $ 125,475 $ 91,626

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, as listed within organization and business above. All significant intercompany accounts and transactions have been eliminated in consolidation.
Comprehensive Income, Policy [Policy Text Block]	Comprehensive income Components of comprehensive income include net income and foreign currency translation adjustments. Comprehensive income is disclosed in the accompanying consolidated statements of comprehensive income and consolidated statements of shareholders’ equity.
Use of Estimates, Policy [Policy Text Block]	Accounting estimates 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.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents Cash and cash equivalents include cash and other investments, including marketable securities, with maturities of three months or less at the date of purchase. The Company maintains its cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses on such accounts.
Marketable Securities, Policy [Policy Text Block]	Marketable securities Marketable securities include held-to-maturity debt securities recorded at amortized cost. Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. Debt securities are classified as held-to-maturity when the Company has the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization is included in other income, net. Interest on securities classified as held to maturity is included in other income, net. The classification of marketable securities as current or non-current is dependent upon the security’s maturity date. Securities with maturities of three months or less at the time of purchase are categorized as cash equivalents as described above. The Company reviews impairments associated with its marketable securities in accordance with the measurement guidance provided by Accounting Standards Codification (ASC) 320, Investments – Debt and Equity Securities,
Trade and Other Accounts Receivable, Policy [Policy Text Block]	Accounts receivable and allowance for doubtful accounts Accounts receivable are reported at the invoiced amount less an allowance for doubtful accounts. On a periodic basis, the Company evaluates its accounts receivable and establishes an allowance for doubtful accounts based on a combination of specific customer circumstances and credit conditions taking into account the history of write-offs and collections. A receivable is considered past due if payment has not been received within the period agreed upon in the invoice. Accounts receivable are written off after all collection efforts have been exhausted. Recoveries of trade receivables previously written off are recorded when received.
Inventory, Policy [Policy Text Block]	Inventory Inventory consists primarily of raw materials, which are recorded at the lower of cost or market, using the average-cost method, which approximates first-in, first-out (FIFO) cost. The Company periodically reviews its inventory for slow-moving, damaged and discontinued items and provides allowances to reduce such items identified to their recoverable amounts.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, equipment and leasehold improvements Property, equipment and leasehold improvements are stated at cost. Major improvements that substantially extend an asset’s useful life are capitalized. Repairs, maintenance and minor improvements are charged to operations as incurred. Depreciation, including amortization of leasehold improvements and assets recorded under capital leases, is calculated using the straight-line method over the estimated useful lives of the individual assets and ranges from 3 to 39 years. Manufacturing equipment is depreciated over 3 to 15 years, office furniture and equipment are depreciated over 3 to 7 years, computer hardware and software are depreciated over 3 to 5 years, building costs are depreciated over 39 years, leasehold improvements are depreciated over the estimated lives of the related assets or the life of the lease, whichever is shorter, and building and land improvements are depreciated over 10 to 39 years. Assets not in service are not depreciated until the related asset is put into use. In August 2015, the Company adjusted the useful lives of its primary production equipment based on experience and condition of current equipment. This change in accounting estimate is accounted for prospectively, and therefore had no effect on property and equipment, net as previously reported. This change was not material.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill The Company recognizes goodwill in accordance with ASC 350, Intangibles — Goodwill and Other
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	Other Intangible Assets Other intangible assets include internally developed software, customer relationships and other intangible assets acquired from an independent party. Other intangible assets with a definite life are amortized over a period ranging from two to 10 years on a straight line basis. Other intangible assets with a definite life are tested for impairment whenever events or circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. An impairment loss is recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows used in determining the fair value of the asset. The amount of the impairment loss recorded is calculated by the excess of the asset’s carrying value over its fair value.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Accounting for long-lived assets The Company periodically reviews the carrying amount of its property, equipment and leasehold improvements to determine if circumstances exist indicating an impairment or if depreciation periods should be modified. If facts or circumstances support the possibility of impairment, the Company will prepare a projection of the undiscounted future cash flows of the specific assets to determine if the assets are recoverable. If impairment exists based on these projections, an adjustment will be made to reduce the carrying amount of the specific assets to fair value.
Revenue Recognition, Policy [Policy Text Block]	Revenue recognition The Company recognizes revenue when it is realized or realizable and earned when all of the following criteria are met: persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price to the buyer is fixed or determinable and collectability is reasonably assured. Revenue is recognized upon transfer of title and risk of loss, which is generally upon the shipment of parts in our 3D Printing (Fineline), CNC Machining (Firstcut) and Injection Molding (Protomold) product lines. Freight billed to customers is included in revenues, and all freight expenses paid by the Company are included in cost of revenue.
Income Tax, Policy [Policy Text Block]	Income taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements by requiring that individual tax positions are recorded only when they meet a more-likely-than-not criterion. Additionally, ASC 740 provides guidance on measurement, de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.
Compensation Related Costs, Policy [Policy Text Block]	Stock-based compensation The Company accounts for stock-based compensation in accordance with ASC 718, Compensation—Stock Compensation In determining the compensation cost of the options granted, the fair value of options granted has been estimated on the date of grant using the Black-Scholes option-pricing model.
Advertising Costs, Policy [Policy Text Block]	Advertising costs Advertising is expensed as incurred and was approximately $10.0 million, $8.5 million and $6.8 million for the years ended December 31, 2015, 2014 and 2013, respectively.
Research and Development Expense, Policy [Policy Text Block]	Research and development Research and development expenses consist primarily of personnel and outside service costs related to the development of new processes and product lines, enhancement of existing product lines, quality assurance and testing. The Company follows ASC 350-40, Internal - Use Softwar e
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign currency translation/transactions The Company translated the balance sheets of its foreign subsidiaries at period-end exchange rates and the income statement at the average exchange rates in effect throughout the period. The Company has recorded the translation adjustment as a separate component of consolidated shareholders’ equity. Foreign currency transaction gains and losses are recognized in the consolidated statements of comprehensive income.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2014-09, Revenue from Contracts with Customers On July 9, 2015, the FASB voted to approve a deferral of the effective date of ASU 2014-09 by one year to December 15, 2017 for annual reporting periods beginning after that date. The Company is evaluating the application method and the impact of this new standard on our financial statements, but does not expect the impact to be material. In April 2015, the FASB issued ASU No. 2015-05, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments On November 20, 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes

Note 3 - Net Income Per Commo25

Note 3 - Net Income Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended December 31, (in thousands, except share and per share amounts) 2015 2014 2013 Net Income $ 46,514 $ 41,635 $ 35,277 Basic - weighted-average shares outstanding: 26,005,858 25,692,699 25,198,556 Effect of dilutive securities: Employee stock options and other 314,426 407,621 661,185 Diluted - weighted-average shares outstanding: 26,320,284 26,100,320 25,859,741 Net income per share attributable to common shareholders: Basic $ 1.79 $ 1.62 $ 1.40 Diluted $ 1.77 $ 1.60 $ 1.36

Note 4 - Business Combinations

Note 4 - Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(in thousands) Assets acquired: Current assets $ 2,766 Other long-term assets 3,876 Total assets acquired 6,642 Liabilities assumed: Current liabilities 1,266 Total liabilities assumed 1,266 Net assets acquired $ 5,376 Cash paid $ 5,570 Cash acquired (538 ) Total purchase consideration $ 5,032 Gain recognized on bargain purchase $ 344 (in thousands) Assets acquired: Current assets $ 1,248 Intangible assets 4,580 Goodwill 28,916 Other long-term assets 3,849 Total assets acquired 38,593 Liabilities assumed: Current liabilities 1,729 Total liabilities assumed 1,729 Net assets acquired 36,864 Cash paid 34,468 Cash acquired (604 ) Net cash consideration 33,864 Contingent consideration 3,000 Total purchase consideration $ 36,864

Note 5 - Goodwill and Other I27

Note 5 - Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Goodwill [Table Text Block]	December 31, (in thousands) 2015 2014 Balance as of the beginning of the period $ 28,916 $ - Goodwill acquired during the period - 28,916 Balance as of the end of the period $ 28,916 $ 28,916
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Year Ended December 31, 2015 Year Ended December 31, 2014 Weighted (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Useful Average Useful Life Remaining (in years) Intangible Assets with finite lives: Marketing assets $ 930 $ (155 ) $ 775 $ 930 $ (62 ) $ 868 10.0 8.3 Non-compete agreement 190 (158 ) 32 190 (63 ) $ 127 2.0 0.3 Trade secrets 250 (83 ) 167 250 (33 ) $ 217 5.0 3.3 Internally developed software 680 (378 ) 302 680 (151 ) $ 529 3.0 1.3 Customer relationships 2,530 (469 ) 2,061 2,530 (188 ) $ 2,342 9.0 7.3 Total intangible assets $ 4,580 $ (1,243 ) $ 3,337 $ 4,580 $ (497 ) $ 4,083
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	(in thousands) Estimated Amortization Expense 2016 $ 682 2017 500 2018 424 2019 391 2020 374 Thereafter 966 Total estimated amortization expense $ 3,337

Note 6 - Fair Value Measureme28

Note 6 - Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	December 31, 2015 December 31, 2014 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents Money market mutual fund $ 11,896 $ - $ - $ 6,129 $ - $ - Total $ 11,896 $ - $ - $ 6,129 $ - $ -

Note 7 - Marketable Securities

Note 7 - Marketable Securities (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Held-to-maturity Securities [Table Text Block]	December 31, 2015 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government agency securities $ 26,784 $ 2 $ (99 ) $ 26,687 Corporate debt securities 28,133 - (114 ) 28,019 Commercial paper 1,497 - (2 ) 1,495 U.S. municipal securities 35,667 8 (56 ) 35,619 Certificates of deposit/time deposits 5,909 2 (11 ) 5,900 Total marketable securities $ 97,990 $ 12 $ (282 ) $ 97,720 December 31, 2014 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government agency securities $ 20,048 $ - $ (71 ) $ 19,977 Corporate debt securities 29,316 7 (79 ) 29,244 U.S. municipal securities 30,004 32 (18 ) 30,018 Certificates of deposit/time deposits 5,656 5 (15 ) 5,646 Total marketable securities $ 85,024 $ 44 $ (183 ) $ 84,885
Investments Classified by Contractual Maturity Date [Table Text Block]	December 31, (in thousands) 2015 Due in one year or less $ 33,201 Due after one year through five years 64,789 Total marketable securities $ 97,990

Note 8 - Property and Equipme30

Note 8 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, (in thousands) 2015 2014 Land $ 8,301 $ 6,825 Buildings and improvements 37,297 29,995 Machinery and equipment 103,205 72,891 Computer hardware and software 13,273 10,738 Leasehold improvements 3,404 3,501 Construction in progress 6,712 4,004 Capital leases - machinery and equipment - 1,167 Total 172,192 129,121 Accumulated depreciation and amortization (46,717 ) (37,495 ) Property and equipment, net $ 125,475 $ 91,626

Note 9 - Inventory (Tables)

Note 9 - Inventory (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, (in thousands) 2015 2014 Raw materials $ 8,589 $ 5,728 Work in process 1,529 653 Total inventory 10,118 6,381 Allowance for obsolescence (347 ) (187 ) Inventory, net of allowance $ 9,771 $ 6,194

Note 10 - Financing Obligatio32

Note 10 - Financing Obligations (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Debt [Table Text Block]	December 31, (in thousands) 2015 2014 Various obligations under capital leases, with interest rates from 6.8% to 7.4%, due in various monthly installments, including interest, through various dates through January 2016, secured by equipment $ - $ 149 Less current portion - 139 Long-term obligation $ - $ 10

Note 12 - Stock-based Compens33

Note 12 - Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]	Year Ended December 31, (in thousands) 2015 2014 2013 Stock options and other $ 5,580 $ 4,386 $ 3,084 Employee stock purchase plan 502 423 377 Total stock-based compensation expense $ 6,082 $ 4,809 $ 3,461 Cost of revenue $ 513 $ 386 $ 316 Operating expenses: Marketing and sales 1,074 927 610 Research and development 1,285 1,048 754 General and administrative 3,210 2,448 1,781 Total stock-based compensation expense $ 6,082 $ 4,809 $ 3,461 Income tax benefits (1,859 ) (1,524 ) (847 ) Total stock-based compensation expense, net of tax $ 4,223 $ 3,285 $ 2,614
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Year Ended December 31, 2015 2014 2013 Risk-free interest rate 1.69 - 1.77% 0.43 - 2.14% 1.03 - 1.98% Expected life (years) 5.50 - 6.50 2.00 - 6.50 5.50 - 6.50 Expected volatility 46.80 - 47.23% 47.29 - 49.30% 49.36 - 53.54% Expected dividend yield 0% 0% 0% Weighted average grant date fair value $ 32.42 $ 32.65 $ 25.86
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Weighted- Average Stock Options Exercise Price Options outstanding at January 1, 2013 1,691,357 $ 11.11 Granted 187,615 49.69 Exercised (695,777 ) 7.79 Cancelled (39,945 ) 23.48 Options outstanding at December 31, 2013 1,143,250 19.03 Granted 116,050 72.17 Exercised (253,544 ) 13.77 Cancelled (6,769 ) 26.23 Options outstanding at December 31, 2014 998,987 26.49 Granted 110,335 67.36 Exercised (316,761 ) 14.36 Cancelled (26,519 ) 51.72 Options outstanding at December 31, 2015 766,042 $ 36.52 Exercisable at December 31, 2015 409,301 $ 19.28
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	Options Outstanding, Vested and Expected to Vest Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life Weighted Average Exercise Price ($) Number Exercisable Weighted Average Exercise Price ($) $ 0.00 to $ 7.85 59,441 2.76 $ 5.03 59,441 $ 5.03 $ 7.86 206,955 4.98 7.86 206,955 7.86 $ 7.87 to $ 31.43 138,831 6.15 28.19 72,495 27.22 $ 31.44 to $ 47.15 88,146 7.10 45.14 19,504 42.70 $ 47.16 to $ 66.87 96,474 7.87 57.52 36,934 55.87 $ 66.88 to $ 78.59 176,195 8.75 71.54 13,972 78.53
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	Weighted- Average Grant Date Restricted Fair Value Stock Awards Per Share Restricted stock at January 1, 2014 - $ - Granted 77,647 69.18 Restrictions lapsed (798 ) 62.68 Forfeited (275 ) 62.68 Restricted stock at December 31, 2014 76,574 69.27 Granted 68,580 68.89 Restrictions lapsed (16,863 ) 69.25 Forfeited (3,898 ) 72.14 Restricted stock at December 31, 2015 124,393 $ 68.97
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]	Year ended December 31, 2015 2014 2013 Risk-free interest rate 0.08 - 0.39% 0.01 - 0.11% 0.11 - 0.13% Expected life (months) 6.00 6.00 6.00 Expected volatility 29.41 - 37.64% 37.64 - 39.80% 39.80 - 53.32% Expected dividend yield 0% 0% 0%

Note 13 - Commitments (Tables)

Note 13 - Commitments (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Operating Leases (in thousands) Years Ending December 31, 2016 $ 2,041 2017 1,196 2018 825 2019 490 2020 462 After 2020 703 Total future minimum lease payments $ 5,717

Note 14 - Accumulated Other C35

Note 14 - Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Comprehensive Income (Loss) [Table Text Block]	Year Ended December 31, (in thousands) 2015 2014 2013 Foreign currency translation adjustments Balance at beginning of period $ (2,929 ) $ (1,091 ) $ (928 ) Other comprehensive loss before reclassifications (2,283 ) (1,838 ) (163 ) Amounts reclassified from accumulated other comprehensive income (loss) - - - Net current-period other comprehensive loss (2,283 ) (1,838 ) (163 ) Balance at end of period $ (5,212 ) $ (2,929 ) $ (1,091 )

Note 15 - Income Taxes (Tables)

Note 15 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]	Year Ended December 31, (in thousands) 2015 2014 2013 Domestic $ 59,421 $ 51,052 $ 45,659 Foreign 8,440 9,479 5,919 Total $ 67,861 $ 60,531 $ 51,578
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year Ended December 31, (in thousands) 2015 2014 2013 Current: Federal $ 15,845 $ 17,413 $ 13,934 State 1,074 1,185 379 Foreign 1,591 2,149 1,762 Deferred Federal 2,798 (1,821 ) 168 State (38 ) (17 ) (39 ) Foreign 294 130 (335 ) Valuation Allowance (217 ) (143 ) 432 Total $ 21,347 $ 18,896 $ 16,301
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended December 31, 2015 2014 2013 Federal tax statutory rate 35.0 % 35.0 % 35.0 % State tax (net of federal benefit) 0.5 0.5 0.6 Qualified subsidiary election 0.6 0.2 (0.8 ) Valuation allowance against deferred tax assets (0.3 ) (0.2 ) 0.8 Research and development credit (2.9 ) (0.8 ) (1.8 ) Foreign rate differential (1.8 ) (2.1 ) (1.6 ) Tax reserves 1.5 0.4 0.6 Domestic manufacturing deduction (1.4 ) (2.1 ) (1.1 ) Miscellaneous 0.3 0.3 (0.1 ) Total 31.5 % 31.2 % 31.6 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, (in thousands) 2015 2014 Deferred tax assets: Accrued expenses $ 628 $ 378 Warrants and stock options 2,828 2,152 Intangibles 499 319 Inventories 177 172 Other assets 856 527 Net operating loss 2,409 2,842 Less valuation allowance (2,625 ) (3,048 ) Total deferred tax assets 4,772 3,342 Deferred tax liabilities: Depreciation (7,945 ) (4,246 ) Goodwill (1,067 ) (430 ) Total deferred tax liabilities (9,012 ) (4,676 ) Net deferred tax liability $ (4,240 ) $ (1,334 )
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	December 31, 2015 2014 Balance at beginning of period $ 1,295 $ 695 Additions for tax positions of current year 919 632 Additions for tax positions of prior years 555 344 Decrease related to expiration of statutes of limitations - (376 ) Balance at period end $ 2,769 $ 1,295

Note 17 - Segment and Geograp37

Note 17 - Segment and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Revenue from External Customers by Products and Services [Table Text Block]	Year Ended December 31, (in thousands) 2015 2014 2013 Revenue: Injection Molding (Protomold) $ 163,387 $ 140,282 $ 115,069 CNC Machining (Firstcut) 74,368 59,914 48,043 3D Printing (Fineline) 25,132 9,387 - Other 1,219 - - Total revenue $ 264,106 $ 209,583 $ 163,112
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	Year Ended December 31, (in thousands) 2015 2014 2013 Revenue: United States $ 194,065 $ 156,033 $ 119,870 International 70,041 53,550 43,242 Total revenue $ 264,106 $ 209,583 $ 163,112
Long-lived Assets by Geographic Areas [Table Text Block]	December 31, (in thousands) 2015 2014 Long-lived assets: United States $ 98,633 $ 76,923 International 26,842 14,703 Total long-lived assets $ 125,475 $ 91,626

Note 2 - Summary of Significa38

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Minimum [Member] | Equipment [Member]
Property, Plant and Equipment, Useful Life	3 years
Minimum [Member] | Office Furniture And Equipment [Member]
Property, Plant and Equipment, Useful Life	3 years
Minimum [Member] | Computer Equipment [Member]
Property, Plant and Equipment, Useful Life	3 years
Minimum [Member] | Land, Buildings and Improvements [Member]
Property, Plant and Equipment, Useful Life	10 years
Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Finite-Lived Intangible Asset, Useful Life	2 years
Maximum [Member] | Equipment [Member]
Property, Plant and Equipment, Useful Life	15 years
Maximum [Member] | Office Furniture And Equipment [Member]
Property, Plant and Equipment, Useful Life	7 years
Maximum [Member] | Computer Equipment [Member]
Property, Plant and Equipment, Useful Life	5 years
Maximum [Member] | Land, Buildings and Improvements [Member]
Property, Plant and Equipment, Useful Life	39 years
Maximum [Member]
Property, Plant and Equipment, Useful Life	39 years
Finite-Lived Intangible Asset, Useful Life	10 years
Building [Member]
Property, Plant and Equipment, Useful Life	39 years
Reclassification from Current Deferred Income Tax Assets to Reduce Deferred Income Taxes Within Non-current Liabilities [Member] | December 31, 2014 [Member]
Prior Period Reclassification Adjustment	$ 500
Advertising Expense	10,000	$ 8,500	$ 6,800
Research and Development Expense	$ 18,350	$ 16,607	$ 11,863

Note 3 - Computation of Basic a

Note 3 - Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net income	$ 46,514	$ 41,635	$ 35,277
Basic (in shares)	26,005,858	25,692,699	25,198,556
Effect of dilutive securities:
Employee stock options and other (in shares)	314,426	407,621	661,185
Diluted - weighted-average shares outstanding: (in shares)	26,320,284	26,100,320	25,859,741
Net income per share attributable to common shareholders:
Basic (in dollars per share)	$ 1.79	$ 1.62	$ 1.40
Diluted (in dollars per share)	$ 1.77	$ 1.60	$ 1.36

Note 4 - Business Combination40

Note 4 - Business Combinations (Details Textual) - USD ($) $ in Thousands	Oct. 01, 2015	Apr. 23, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Alphaform A.G. [Member] | Other Income [Member]
Business Combination, Bargain Purchase, Gain Recognized, Amount			$ 300
Alphaform A.G. [Member]
Payments to Acquire Businesses, Net of Cash Acquired	$ 5,000		5,032
Business Combination, Bargain Purchase, Gain Recognized, Amount			344
FineLine Prototyping, Inc. [Member] | Accrued Liabilities and Other [Member]
Business Combination, Contingent Consideration, Liability			400
FineLine Prototyping, Inc. [Member]
Payments to Acquire Businesses, Net of Cash Acquired		$ 33,900		$ 33,864
Business Acquisition, Percentage of Voting Interests Acquired		100.00%
Proceeds from Sale of Held-to-maturity Securities		$ 15,500
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		3,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability			2,600
Business Combination, Contingent Consideration, Liability		3,000		3,000
Business Combination, Consideration Transferred		$ 36,900		36,864
Payments to Acquire Businesses, Net of Cash Acquired			5,032	$ 33,864
Business Combination, Bargain Purchase, Gain Recognized, Amount			$ 344

Note 4 - Allocation of Purchase

Note 4 - Allocation of Purchase Prices of Acquisitions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Alphaform A.G. [Member]
Assets acquired:
Current assets	$ 2,766,000
Other long-term assets	3,876,000
Total assets acquired	6,642,000
Liabilities assumed:
Current liabilities	1,266,000
Total liabilities assumed	1,266,000
Net assets acquired	5,376,000
Cash paid	5,570,000
Cash acquired	(538,000)
Total purchase consideration	5,032,000
Business Combination, Bargain Purchase, Gain Recognized, Amount	344,000
FineLine Prototyping, Inc. [Member]
Assets acquired:
Current assets		$ 1,248,000
Other long-term assets		3,849,000
Total assets acquired		38,593,000
Intangible assets		4,580,000
Goodwill		28,916,000
Liabilities assumed:
Current liabilities		1,729,000
Total liabilities assumed		1,729,000
Net assets acquired		36,864,000
Cash paid		34,468,000
Cash acquired		(604,000)
Total purchase consideration		33,864,000
Business Combination, Contingent Consideration, Liability		3,000,000
Business Combination, Consideration Transferred		36,864,000
Goodwill	28,916,000	28,916,000
Total purchase consideration	5,032,000	$ 33,864,000
Business Combination, Bargain Purchase, Gain Recognized, Amount	$ 344,000

Note 5 - Goodwill and Other I42

Note 5 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Amortization of Intangible Assets	$ 0.7	$ 0.5

Note 5 - Changes in Carrying Am

Note 5 - Changes in Carrying Amount of Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Balance as of the beginning of the period	$ 28,916,000	$ 0
Goodwill acquired during the period		28,916,000
Balance as of the end of the period	$ 28,916,000	$ 28,916,000

Note 5 - Intangible Assets Othe

Note 5 - Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Marketing-Related Intangible Assets [Member]
Intangible Assets with finite lives:
Gross	$ 930	$ 930
Accumulated amortization	(155)	(62)
Net	$ 775	868
Finite-Lived Intangible Asset, Useful Life	10 years
Weighted average useful life remaining	8 years 109 days
Noncompete Agreements [Member]
Intangible Assets with finite lives:
Gross	$ 190	190
Accumulated amortization	(158)	(63)
Net	$ 32	127
Finite-Lived Intangible Asset, Useful Life	2 years
Weighted average useful life remaining	109 days
Trade Secrets [Member]
Intangible Assets with finite lives:
Gross	$ 250	250
Accumulated amortization	(83)	(33)
Net	$ 167	217
Finite-Lived Intangible Asset, Useful Life	5 years
Weighted average useful life remaining	3 years 109 days
Computer Software, Intangible Asset [Member]
Intangible Assets with finite lives:
Gross	$ 680	680
Accumulated amortization	(378)	(151)
Net	$ 302	529
Finite-Lived Intangible Asset, Useful Life	3 years
Weighted average useful life remaining	1 year 109 days
Customer Relationships [Member]
Intangible Assets with finite lives:
Gross	$ 2,530	2,530
Accumulated amortization	(469)	(188)
Net	$ 2,061	2,342
Finite-Lived Intangible Asset, Useful Life	9 years
Weighted average useful life remaining	7 years 109 days
Gross	$ 4,580	4,580
Accumulated amortization	(1,243)	(497)
Net	$ 3,337	$ 4,083

Note 5 - Estimated Aggregated A

Note 5 - Estimated Aggregated Amortization Expense (Details) $ in Thousands	Dec. 31, 2015USD ($)
2,016	$ 682
2,017	500
2,018	424
2,019	391
2,020	374
Thereafter	966
Total estimated amortization expense	$ 3,337

Note 6 - Fair Value of Financia

Note 6 - Fair Value of Financial Assets Measured on a Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents:
Money market mutual fund	$ 11,896	$ 6,129
Total	$ 11,896	$ 6,129
Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents:
Money market mutual fund
Total
Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents:
Money market mutual fund
Total

Note 7 - Short-term and Long-te

Note 7 - Short-term and Long-term Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
US Government Agencies Debt Securities [Member]
Amortized Cost	$ 26,784	$ 20,048
Unrealized Gains	2
Unrealized Losses	(99)	$ (71)
Fair Value	26,687	19,977
Corporate Debt Securities [Member]
Amortized Cost	$ 28,133	29,316
Unrealized Gains		7
Unrealized Losses	$ (114)	(79)
Fair Value	28,019	29,244
Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Amortized Cost	$ 1,497
Unrealized Gains
Unrealized Losses	$ (2)
Fair Value	1,495
US States and Political Subdivisions Debt Securities [Member]
Amortized Cost	35,667	30,004
Unrealized Gains	8	32
Unrealized Losses	(56)	(18)
Fair Value	35,619	30,018
Bank Time Deposits [Member]
Amortized Cost	5,909	5,656
Unrealized Gains	2	5
Unrealized Losses	(11)	(15)
Fair Value	5,900	5,646
Amortized Cost	97,990	85,024
Unrealized Gains	12	44
Unrealized Losses	(282)	(183)
Fair Value	$ 97,720	$ 84,885

Note 7 - Balance of Held-to-Mat

Note 7 - Balance of Held-to-Maturity Debt Securities by Contractual Maturity (Details) $ in Thousands	Dec. 31, 2015USD ($)
Due in one year or less	$ 33,201
Due after one year through five years	64,789
Total marketable securities	$ 97,990

Note 8 - Property and Equipme49

Note 8 - Property and Equipment (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Depreciation	$ 13.4	$ 10.6	$ 7.6

Note 8 - Property and Equipme50

Note 8 - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Land	$ 8,301	$ 6,825
Buildings and improvements	37,297	29,995
Machinery and equipment	103,205	72,891
Computer hardware and software	13,273	10,738
Leasehold improvements	3,404	3,501
Construction in progress	$ 6,712	4,004
Capital leases - machinery and equipment		1,167
Total	$ 172,192	129,121
Accumulated depreciation and amortization	(46,717)	(37,495)
Property and equipment, net	$ 125,475	$ 91,626

Note 9 - Inventory Components (

Note 9 - Inventory Components (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Raw materials	$ 8,589	$ 5,728
Work in process	1,529	653
Total inventory	10,118	6,381
Allowance for obsolescence	(347)	(187)
Inventory, net of allowance	$ 9,771	$ 6,194

Note 10 - Debt (Details)

Note 10 - Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Various obligations under capital leases, with interest rates from 6.8% to 7.4%, due in various monthly installments, including interest, through various dates through January 2016, secured by equipment		$ 149
Less current portion		139
Long-term obligation		$ 10

Note 10 - Debt (Details) (Paren

Note 10 - Debt (Details) (Parentheticals)	Dec. 31, 2014
Minimum [Member]
Interest rate	6.80%
Maximum [Member]
Interest rate	7.40%

Note 11 - Employee Benefit Pl54

Note 11 - Employee Benefit Plans (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
401(k) Retirement Plan [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 1.2	$ 0.8	$ 0.6
Defined Contribution Retirement Plan for Proto Labs Limited Employees [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 0.2
Minimum Number Of Employee Working Hours Required To Be Eligible To Participate In 401K Plan	20
Minimum Service Period Of Employees To Avail Benefit Under Defined Contribution Benefit Plan	90 days
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	50.00%

Note 12 - Stock-based Compens55

Note 12 - Stock-based Compensation (Details Textual) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / shares
Employee Stock Option [Member]
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | shares	31,905	25,393
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares	$ 53.64	$ 52.22
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%	0.00%
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years 255 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 6.6
Number Of Equity Incentive Plans	2
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date	15.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period	180 days
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	85.00%
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares	$ 14.36	$ 13.77	$ 7.79
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares	1,325,792
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 18.6	$ 16.3	$ 33.2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	6 years 182 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 22.2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years 109 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 18.4
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 7
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years 36 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	$ 2.8	$ 3.2	$ 2.4

Note 12 - Stock-based Compens56

Note 12 - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Employee Stock Option [Member]
Allocated share-based compensation expense	$ 5,580	$ 4,386	$ 3,084
ESPP [Member]
Allocated share-based compensation expense	502	423	377
Cost of Sales [Member]
Allocated share-based compensation expense	513	386	316
Selling and Marketing Expense [Member]
Allocated share-based compensation expense	1,074	927	610
Research and Development Expense [Member]
Allocated share-based compensation expense	1,285	1,048	754
General and Administrative Expense [Member]
Allocated share-based compensation expense	3,210	2,448	1,781
Allocated share-based compensation expense	6,082	4,809	3,461
Income tax benefits	(1,859)	(1,524)	(847)
Total stock-based compensation expense, net of tax	$ 4,223	$ 3,285	$ 2,614

Note 12 - Assumptions Used in t

Note 12 - Assumptions Used in the Black-Scholes Option Pricing Model (Details) - Employee Stock Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Minimum [Member]
Risk-free interest rate	1.69%	0.43%	1.03%
Expected life (years)	5 years 182 days	2 years	5 years 182 days
Expected volatility	46.80%	47.29%	49.36%
Maximum [Member]
Risk-free interest rate	1.77%	2.14%	1.98%
Expected life (years)	6 years 182 days	6 years 182 days	6 years 182 days
Expected volatility	47.23%	49.30%	53.54%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%	0.00%
Weighted average grant date fair value (in dollars per share)	$ 32.42	$ 32.65	$ 25.86

Note 12 - Stock Option Activity

Note 12 - Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Options outstanding (in shares)	998,987	1,143,250	1,691,357
Options outstanding, weighted-average exercise price (in dollars per share)	$ 26.49	$ 19.03	$ 11.11
Options granted (in shares)	110,335	116,050	187,615
Options granted, weighted-average exercise price (in dollars per share)	$ 67.36	$ 72.17	$ 49.69
Options exercised (in shares)	(316,761)	(253,544)	(695,777)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 14.36	$ 13.77	$ 7.79
Options cancelled (in shares)	(26,519)	(6,769)	(39,945)
Options cancelled, weighted-average exercise price (in dollars per share)	$ 51.72	$ 26.23	$ 23.48
Options outstanding (in shares)	766,042	998,987	1,143,250
Options outstanding, weighted-average exercise price (in dollars per share)	$ 36.52	$ 26.49	$ 19.03
Options granted (in shares)	110,335	116,050	187,615
Options exercised (in shares)	(316,761)	(253,544)	(695,777)
Options exercisable (in shares)	409,301
Options exercisable, weighted-average exercise price (in dollars per share)	$ 19.28

Note 12 - Information about Sto

Note 12 - Information about Stock Options Outstanding (Details)	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Exercise Price Range One [Member]
Range of exercise prices, lower limit (in dollars per share)	$ 0
Range of exercise prices, upper limit (in dollars per share)	$ 7.85
Options outstanding (in shares) | shares	59,441
Options outstanding, weighted average remaining contractual life	2 years 277 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 5.03
Options exercisable (in shares) | shares	59,441
Options exercisable, weighted average exercise price (in dollars per share)	$ 5.03
Exercise Price Range Two [Member]
Options outstanding (in shares) | shares	206,955
Options outstanding, weighted average remaining contractual life	4 years 357 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 7.86
Options exercisable (in shares) | shares	206,955
Options exercisable, weighted average exercise price (in dollars per share)	$ 7.86
Exercise price (in dollars per share)	7.86
Exercise Price Range Three [Member]
Range of exercise prices, lower limit (in dollars per share)	7.87
Range of exercise prices, upper limit (in dollars per share)	$ 31.43
Options outstanding (in shares) | shares	138,831
Options outstanding, weighted average remaining contractual life	6 years 54 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 28.19
Options exercisable (in shares) | shares	72,495
Options exercisable, weighted average exercise price (in dollars per share)	$ 27.22
Exercise Price Range Four [Member]
Range of exercise prices, lower limit (in dollars per share)	31.44
Range of exercise prices, upper limit (in dollars per share)	$ 47.15
Options outstanding (in shares) | shares	88,146
Options outstanding, weighted average remaining contractual life	7 years 36 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 45.14
Options exercisable (in shares) | shares	19,504
Options exercisable, weighted average exercise price (in dollars per share)	$ 42.70
Exercise Price Range Five [Member]
Range of exercise prices, lower limit (in dollars per share)	47.16
Range of exercise prices, upper limit (in dollars per share)	$ 66.87
Options outstanding (in shares) | shares	96,474
Options outstanding, weighted average remaining contractual life	7 years 317 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 57.52
Options exercisable (in shares) | shares	36,934
Options exercisable, weighted average exercise price (in dollars per share)	$ 55.87
Exercise Price Range Six [Member]
Range of exercise prices, lower limit (in dollars per share)	66.88
Range of exercise prices, upper limit (in dollars per share)	$ 78.59
Options outstanding (in shares) | shares	176,195
Options outstanding, weighted average remaining contractual life	8 years 273 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 71.54
Options exercisable (in shares) | shares	13,972
Options exercisable, weighted average exercise price (in dollars per share)	$ 78.53
Options outstanding (in shares) | shares	766,042
Options outstanding, weighted average exercise price (in dollars per share)	$ 36.52

Note 12 - Non-vested Restricted

Note 12 - Non-vested Restricted Stock Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Restricted Stock [Member]
Restricted stock at January 1, 2014 (in shares)	76,574	0
Restricted stock at January 1, 2014 (in dollars per share)	$ 69.27	$ 0
Granted (in shares)		77,647
Granted, weighted-average grant date fair value (in dollars per share)		$ 69.18
Restrictions lapsed (in shares)		(798)
Restrictions lapsed (in dollars per share)		$ 62.68
Forfeited (in shares)		(275)
Forfeited, weighted-average grant date fair value (in dollars per share)		$ 62.68
Restricted stock at December 31, 2014 (in shares)		76,574
Restricted stock at December 31, 2014 (in dollars per share)		$ 69.27
Granted (in shares)	68,580
Granted, weighted-average grant date fair value (in dollars per share)	$ 68.89
Restrictions lapsed (in shares)	(16,863)
Restrictions lapsed (in dollars per share)	$ 69.25
Forfeited (in shares)	(3,898)
Forfeited, weighted-average grant date fair value (in dollars per share)	$ 72.14
Restricted stock at December 31, 2014 (in shares)	124,393
Restricted stock at December 31, 2014 (in dollars per share)	$ 68.97

Note 12 - Assumptions Used to E

Note 12 - Assumptions Used to Estimate the Fair Value of the ESPP (Details) - ESPP [Member]	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Minimum [Member]
Risk-free interest rate	0.08%	0.01%	0.11%
Expected volatility	29.41%	37.64%	39.80%
Maximum [Member]
Risk-free interest rate	0.39%	0.11%	0.13%
Expected volatility	37.64%	39.80%	53.32%
Expected life (months)	180 days	180 days	180 days
Expected dividend yield	0.00%	0.00%	0.00%

Note 13 - Commitments (Details

Note 13 - Commitments (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Lease Termination Notice Period	180 days
Operating Leases, Rent Expense, Net	$ 1.4	$ 1	$ 1.2

Note 13 - Future Minimum Commit

Note 13 - Future Minimum Commitments under Non-cancelable Leases (Details) $ in Thousands	Dec. 31, 2015USD ($)
2,016	$ 2,041
2,017	1,196
2,018	825
2,019	490
2,020	462
After 2,020	703
Total future minimum lease payments	$ 5,717

Note 14 - Other Comprehensive I

Note 14 - Other Comprehensive Income (Loss) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Balance	$ (2,929,000)	$ (1,091,000)	$ (928,000)
Other comprehensive loss before reclassifications	(2,283,000)	(1,838,000)	(163,000)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0
Net current-period other comprehensive loss	(2,283,000)	(1,838,000)	(163,000)
Balance	$ (5,212,000)	$ (2,929,000)	$ (1,091,000)

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deferred Tax Liabilities, Undistributed Foreign Earnings	$ 0
Income Tax Expense (Benefit)	$ 21,347,000	$ 18,896,000	$ 16,301,000
Effective Income Tax Rate Reconciliation, Percent	31.50%	31.20%	31.60%
Income Tax Credits and Adjustments			$ 500,000
Effective Income Tax Rate Reconciliation, Tax Credit, Percent			0.90%
Undistributed Earnings of Foreign Subsidiaries	$ 25,800,000
Operating Loss Carryforwards	$ 2,400,000
Operating Loss Carryforwards, Expiration Period	10 years
Operating Loss Carryforwards, Percentage of Taxable Income	65.00%
Deferred Tax Assets, Valuation Allowance	$ 2,625,000	$ 3,048,000
Unrecognized Tax Benefits	$ 2,769,000	$ 1,295,000	$ 695,000

Note 15 - Components of Income

Note 15 - Components of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Domestic	$ 59,421	$ 51,052	$ 45,659
Foreign	8,440	9,479	5,919
Income before income taxes	$ 67,861	$ 60,531	$ 51,578

Note 15 - Significant Component

Note 15 - Significant Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Federal	$ 15,845	$ 17,413	$ 13,934
State	1,074	1,185	379
Foreign	1,591	2,149	1,762
Deferred
Federal	2,798	(1,821)	168
State	(38)	(17)	(39)
Foreign	294	130	(335)
Valuation Allowance	(217)	(143)	432
Total	$ 21,347	$ 18,896	$ 16,301

Note 15 - Reconciliation of Fed

Note 15 - Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Federal tax statutory rate	35.00%	35.00%	35.00%
State tax (net of federal benefit)	0.50%	0.50%	0.60%
Qualified subsidiary election	0.60%	0.20%	(0.80%)
Valuation allowance against deferred tax assets	(0.30%)	(0.20%)	0.80%
Research and development credit	(2.90%)	(0.80%)	(1.80%)
Foreign rate differential	(1.80%)	(2.10%)	(1.60%)
Tax reserves	1.50%	0.40%	0.60%
Domestic manufacturing deduction	(1.40%)	(2.10%)	(1.10%)
Miscellaneous	0.30%	0.30%	(0.10%)
Effective Income Tax Rate Reconciliation, Percent	31.50%	31.20%	31.60%

Note 15 - Significant Compone69

Note 15 - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Accrued expenses	$ 628	$ 378
Warrants and stock options	2,828	2,152
Intangibles	499	319
Inventories	177	172
Other assets	856	527
Net operating loss	2,409	2,842
Less valuation allowance	(2,625)	(3,048)
Total deferred tax assets	4,772	3,342
Deferred tax liabilities:
Depreciation	(7,945)	(4,246)
Goodwill	(1,067)	(430)
Total deferred tax liabilities	(9,012)	(4,676)
Net deferred tax liability	$ (4,240)	$ (1,334)

Note 15 - Reconciliation of Beg

Note 15 - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Balance	$ 1,295	$ 695
Additions for tax positions of current year	919	632
Additions for tax positions of prior years	$ 555	344
Decrease related to expiration of statutes of limitations		(376)
Balance	$ 2,769	$ 1,295

Note 17 - Segment and Geograp71

Note 17 - Segment and Geographic Information (Details Textual)	12 Months Ended
	Dec. 31, 2015
Number of Operating Segments	1
Number of Reportable Segments	1

Note 17 - Total Revenue by Prod

Note 17 - Total Revenue by Product Line (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Injection Molding (Protomold) [Member]
Revenues	$ 163,387	$ 140,282	$ 115,069
CNC Machining (Firstcut) [Member]
Revenues	74,368	59,914	$ 48,043
3D Printing (Fineline) [Member]
Revenues	25,132	$ 9,387
Other Products [Member]
Revenues	1,219
Revenues	$ 264,106	$ 209,583	$ 163,112

Note 17 - Revenue to External C

Note 17 - Revenue to External Customers and Long-lived Assets by Geography (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
UNITED STATES
Revenues	$ 194,065	$ 156,033	$ 119,870
International [Member]
Revenues	70,041	53,550	43,242
Revenues	$ 264,106	$ 209,583	$ 163,112

Note 17 - Long-lived Assets by

Note 17 - Long-lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
UNITED STATES
Long-lived assets	$ 98,633	$ 76,923
International [Member]
Long-lived assets	26,842	14,703
Long-lived assets	$ 125,475	$ 91,626