Proto Labs (PRLB) 10-Q 31 Jul 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 28, 2020
Document Information [Line Items]
Entity Central Index Key	0001443669
Entity Registrant Name	Proto Labs Inc
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-35435
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-1939628
Entity Address, Address Line One	5540 Pioneer Creek Drive
Entity Address, City or Town	Maple Plain
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55359
City Area Code	763
Local Phone Number	479-3680
Title of 12(b) Security	Common Stock, Par Value $0.001 Per Share
Trading Symbol	PRLB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,706,556

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 98,003	$ 125,225
Short-term marketable securities	33,128	35,437
Accounts receivable, net of allowance for doubtful accounts of $1,836 and $952 as of June 30, 2020 and December 31, 2019, respectively	61,297	57,450
Inventory	10,774	10,075
Income taxes receivable	95	0
Prepaid expenses and other current assets	9,670	8,232
Total current assets	212,967	236,419
Property and equipment, net	281,129	263,712
Goodwill	128,752	128,752
Other intangible assets, net	15,861	17,369
Long-term marketable securities	44,127	12,960
Operating lease assets	11,049	11,425
Other long-term assets	4,560	3,030
Total assets	698,445	673,667
Current liabilities
Accounts payable	17,556	16,804
Accrued compensation	15,138	15,058
Accrued liabilities and other	15,041	11,057
Current operating lease liabilities	3,368	3,340
Income taxes payable	0	1,322
Total current liabilities	51,103	47,581
Long-term operating lease liabilities	8,379	8,565
Long-term deferred tax liabilities	31,907	26,283
Other long-term liabilities	5,807	5,448
Total liabilities	97,196	87,877
Shareholders' equity
Preferred stock, $0.001 par value, authorized 10,000,000 shares; issued and outstanding 0 shares as of each of June 30, 2020 and December 31, 2019	0	0
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 26,706,556 and 26,786,459 shares as of June 30, 2020 and December 31, 2019, respectively	27	27
Additional paid-in capital	272,231	268,059
Retained earnings	338,625	324,722
Accumulated other comprehensive loss	(9,634)	(7,018)
Total shareholders' equity	601,249	585,790
Total liabilities and shareholders' equity	$ 698,445	$ 673,667

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Allowance for doubtful accounts	$ 1,836	$ 952
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
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)	26,706,556	26,786,459
Common stock, shares outstanding (in shares)	26,706,556	26,786,459

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statements of Operations:
Revenue	$ 106,575	$ 115,932	$ 221,683	$ 229,384
Cost of revenue	54,119	55,696	111,127	110,288
Gross profit	52,456	60,236	110,556	119,096
Operating expenses
Marketing and sales	16,936	19,285	35,116	37,862
Research and development	8,648	8,169	17,635	16,182
General and administrative	12,521	13,209	26,629	26,031
Total operating expenses	38,105	40,663	79,380	80,075
Income from operations	14,351	19,573	31,176	39,021
Other income, net	767	1,125	1,821	1,338
Income before income taxes	15,118	20,698	32,997	40,359
Provision for income taxes	2,511	4,532	6,406	8,682
Net income	$ 12,607	$ 16,166	$ 26,591	$ 31,677
Net income per share:
Basic (in dollars per share)	$ 0.47	$ 0.60	$ 1	$ 1.18
Diluted (in dollars per share)	$ 0.47	$ 0.60	$ 0.99	$ 1.17
Shares used to compute net income per share:
Basic (in shares)	26,660,498	26,875,153	26,718,652	26,919,016
Diluted (in shares)	26,760,866	27,041,422	26,837,938	27,113,328
Comprehensive Income (net of tax)
Comprehensive income	$ 12,971	$ 15,688	$ 23,975	$ 31,675

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - 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, 2018	26,984,747
Balance at Dec. 31, 2018	$ 27	$ 258,502	$ 291,460	$ (8,492)	$ 541,497
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	19,950
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	(420)	0	0	(420)
Stock-based compensation expense	$ 0	3,040	0	0	3,040
Repurchases of common stock (in shares)	(157,716)
Repurchases of common stock	$ 0	(1,511)	(15,798)	0	(17,309)
Net income	0	0	15,511	0	15,511
Other comprehensive income
Foreign currency translation adjustment	$ 0	0	0	476	476
Comprehensive income					15,987
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	19,950
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	(420)	0	0	(420)
Stock-based compensation expense	$ 0	3,040	0	0	3,040
Repurchases of common stock (in shares)	(157,716)
Repurchases of common stock	$ 0	(1,511)	(15,798)	0	(17,309)
Net income	$ 0	0	15,511	0	15,511
Balance (in shares) at Dec. 31, 2018	26,984,747
Balance at Dec. 31, 2018	$ 27	258,502	291,460	(8,492)	541,497
Net income					31,677
Other comprehensive income
Comprehensive income					31,675
Net income					31,677
Balance (in shares) at Mar. 31, 2019	26,846,981
Balance at Mar. 31, 2019	$ 27	259,611	291,173	(8,016)	542,795
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	75,785
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	245	0	0	245
Stock-based compensation expense	$ 0	3,486	0	0	3,486
Repurchases of common stock (in shares)	(40,669)
Repurchases of common stock	$ 0	(390)	(3,711)	0	(4,101)
Net income	0	0	16,166	0	16,166
Other comprehensive income
Foreign currency translation adjustment		0	0	(478)	(478)
Comprehensive income					15,688
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	75,785
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	245	0	0	245
Stock-based compensation expense	$ 0	3,486	0	0	3,486
Repurchases of common stock (in shares)	(40,669)
Repurchases of common stock	$ 0	(390)	(3,711)	0	(4,101)
Net income	$ 0	0	16,166	0	$ 16,166
Balance (in shares) at Dec. 31, 2019	26,786,459				26,786,459
Balance at Dec. 31, 2019	$ 27	268,059	324,722	(7,018)	$ 585,790
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	23,525
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	(902)	0	0	(902)
Stock-based compensation expense	$ 0	3,033	0	0	3,033
Repurchases of common stock (in shares)	(161,460)
Repurchases of common stock	$ 0	(1,616)	(9,569)	0	(11,185)
Net income	0	0	13,984	0	13,984
Other comprehensive income
Foreign currency translation adjustment	$ 0	0	0	(2,980)	(2,980)
Comprehensive income					11,004
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	23,525
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	(902)	0	0	(902)
Stock-based compensation expense	$ 0	3,033	0	0	3,033
Repurchases of common stock (in shares)	(161,460)
Repurchases of common stock	$ 0	(1,616)	(9,569)	0	(11,185)
Net income	$ 0	0	13,984	0	$ 13,984
Balance (in shares) at Dec. 31, 2019	26,786,459				26,786,459
Balance at Dec. 31, 2019	$ 27	268,059	324,722	(7,018)	$ 585,790
Net income					26,591
Other comprehensive income
Comprehensive income					23,975
Net income					26,591
Balance (in shares) at Mar. 31, 2020	26,648,524
Balance at Mar. 31, 2020	$ 27	268,574	329,137	(9,998)	587,740
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	96,186
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	400	0	0	400
Stock-based compensation expense	$ 0	3,639	0	0	3,639
Repurchases of common stock (in shares)	(38,154)
Repurchases of common stock	$ 0	(382)	(3,119)	0	(3,501)
Net income	0	0	12,607	0	12,607
Other comprehensive income
Foreign currency translation adjustment		0	0	364	364
Comprehensive income					12,971
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	96,186
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	400	0	0	400
Stock-based compensation expense	$ 0	3,639	0	0	3,639
Repurchases of common stock (in shares)	(38,154)
Repurchases of common stock	$ 0	(382)	(3,119)	0	(3,501)
Net income	$ 0	$ 0	$ 12,607	$ 0	$ 12,607

Consolidated Statements of Sh_2

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, 2018	26,984,747
Balance at Dec. 31, 2018	$ 27	$ 258,502	$ 291,460	$ (8,492)	$ 541,497
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	19,950
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	(420)	0	0	(420)
Stock-based compensation expense	$ 0	3,040	0	0	3,040
Repurchases of common stock (in shares)	(157,716)
Repurchases of common stock	$ 0	(1,511)	(15,798)	0	(17,309)
Net income	0	0	15,511	0	15,511
Other comprehensive income
Foreign currency translation adjustment	$ 0	0	0	476	476
Comprehensive income					15,987
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	19,950
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	(420)	0	0	(420)
Stock-based compensation expense	$ 0	3,040	0	0	3,040
Repurchases of common stock (in shares)	(157,716)
Repurchases of common stock	$ 0	(1,511)	(15,798)	0	(17,309)
Net income	$ 0	0	15,511	0	15,511
Balance (in shares) at Mar. 31, 2019	26,846,981
Balance at Mar. 31, 2019	$ 27	259,611	291,173	(8,016)	542,795
Balance (in shares) at Dec. 31, 2018	26,984,747
Balance at Dec. 31, 2018	$ 27	258,502	291,460	(8,492)	541,497
Net income					31,677
Other comprehensive income
Comprehensive income					31,675
Net income					31,677
Balance (in shares) at Jun. 30, 2019	26,882,097
Balance at Jun. 30, 2019	$ 27	262,952	303,628	(8,494)	558,113
Balance (in shares) at Mar. 31, 2019	26,846,981
Balance at Mar. 31, 2019	$ 27	259,611	291,173	(8,016)	542,795
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	75,785
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	245	0	0	245
Stock-based compensation expense	$ 0	3,486	0	0	3,486
Repurchases of common stock (in shares)	(40,669)
Repurchases of common stock	$ 0	(390)	(3,711)	0	(4,101)
Net income	0	0	16,166	0	16,166
Other comprehensive income
Foreign currency translation adjustment		0	0	(478)	(478)
Comprehensive income					15,688
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	75,785
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	245	0	0	245
Stock-based compensation expense	$ 0	3,486	0	0	3,486
Repurchases of common stock (in shares)	(40,669)
Repurchases of common stock	$ 0	(390)	(3,711)	0	(4,101)
Net income	$ 0	0	16,166	0	16,166
Balance (in shares) at Jun. 30, 2019	26,882,097
Balance at Jun. 30, 2019	$ 27	262,952	303,628	(8,494)	$ 558,113
Balance (in shares) at Dec. 31, 2019	26,786,459				26,786,459
Balance at Dec. 31, 2019	$ 27	268,059	324,722	(7,018)	$ 585,790
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	23,525
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	(902)	0	0	(902)
Stock-based compensation expense	$ 0	3,033	0	0	3,033
Repurchases of common stock (in shares)	(161,460)
Repurchases of common stock	$ 0	(1,616)	(9,569)	0	(11,185)
Net income	0	0	13,984	0	13,984
Other comprehensive income
Foreign currency translation adjustment	$ 0	0	0	(2,980)	(2,980)
Comprehensive income					11,004
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	23,525
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	(902)	0	0	(902)
Stock-based compensation expense	$ 0	3,033	0	0	3,033
Repurchases of common stock (in shares)	(161,460)
Repurchases of common stock	$ 0	(1,616)	(9,569)	0	(11,185)
Net income	$ 0	0	13,984	0	13,984
Balance (in shares) at Mar. 31, 2020	26,648,524
Balance at Mar. 31, 2020	$ 27	268,574	329,137	(9,998)	$ 587,740
Balance (in shares) at Dec. 31, 2019	26,786,459				26,786,459
Balance at Dec. 31, 2019	$ 27	268,059	324,722	(7,018)	$ 585,790
Net income					26,591
Other comprehensive income
Comprehensive income					23,975
Net income					$ 26,591
Balance (in shares) at Jun. 30, 2020	26,706,556				26,706,556
Balance at Jun. 30, 2020	$ 27	272,231	338,625	(9,634)	$ 601,249
Balance (in shares) at Mar. 31, 2020	26,648,524
Balance at Mar. 31, 2020	$ 27	268,574	329,137	(9,998)	587,740
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	96,186
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	400	0	0	400
Stock-based compensation expense	$ 0	3,639	0	0	3,639
Repurchases of common stock (in shares)	(38,154)
Repurchases of common stock	$ 0	(382)	(3,119)	0	(3,501)
Net income	0	0	12,607	0	12,607
Other comprehensive income
Foreign currency translation adjustment		0	0	364	364
Comprehensive income					12,971
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)	96,186
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	$ 0	400	0	0	400
Stock-based compensation expense	$ 0	3,639	0	0	3,639
Repurchases of common stock (in shares)	(38,154)
Repurchases of common stock	$ 0	(382)	(3,119)	0	(3,501)
Net income	$ 0	0	12,607	0	$ 12,607
Balance (in shares) at Jun. 30, 2020	26,706,556				26,706,556
Balance at Jun. 30, 2020	$ 27	$ 272,231	$ 338,625	$ (9,634)	$ 601,249

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities
Net income	$ 26,591	$ 31,677
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	15,855	14,981
Stock-based compensation expense	6,672	6,526
Deferred taxes	5,651	1,585
Amortization of held-to-maturity securities	129	7
Other	(854)	(279)
Changes in operating assets and liabilities:
Accounts receivable	(4,292)	(3,461)
Inventories	(801)	392
Prepaid expenses and other	(1,068)	24
Income taxes	(1,341)	4,833
Accounts payable	1,082	3,848
Accrued liabilities and other	5,793	(5,245)
Net cash provided by operating activities	53,417	54,888
Investing activities
Purchases of property, equipment and other capital assets	(33,305)	(34,136)
Purchases of other assets and investments	(3,000)	(4,000)
Purchases of marketable securities	(57,212)	(8,983)
Proceeds from maturities of marketable securities	28,225	29,170
Net cash used in investing activities	(65,292)	(17,949)
Financing activities
Proceeds from exercises of stock options	2,855	2,243
Purchases of shares withheld for tax obligations	(3,367)	(2,418)
Repurchases of common stock	(14,686)	(21,410)
Net cash used in financing activities	(15,198)	(21,585)
Effect of exchange rate changes on cash and cash equivalents	(149)	135
Net (decrease) increase in cash and cash equivalents	(27,222)	15,489
Cash and cash equivalents, beginning of period	125,225	85,046
Cash and cash equivalents, end of period	$ 98,003	$ 100,535

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 The unaudited interim Consolidated Financial Statements of Proto Labs, Inc. (Protolabs, the Company, we, us or our) have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and with the instructions to Form 10 10 X. not may The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could materially differ from these estimates. For further information, refer to the audited Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10 December 31, 2019 February 26, 2020. The accompanying Consolidated Balance Sheet as of December 31, 2019 not 10 10 February 26, 2020

Note 2 - Recent Accounting Pron

Note 2 - Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2 Recently Adopted Accounting Pronouncements During the first 2020, 2016 13, Financial Instruments – Credit Losses no During the fourth 2019, 2017 04, no

Note 3 - Net Income Per Common

Note 3 - Net Income Per Common Share	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 3 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 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, restricted stock units and restricted stock awards granted under stock-based compensation plans and shares committed to be purchased under the employee stock purchase plan. Performance stock units are excluded from the calculation of dilutive potential common shares until the performance conditions have been satisfied. The table below sets forth the computation of basic and diluted net income per share: Three Months Ended Six Months Ended June 30, June 30, (in thousands, except share and per share amounts) 2020 2019 2020 2019 Net income $ 12,607 $ 16,166 $ 26,591 $ 31,677 Basic - weighted-average shares outstanding: 26,660,498 26,875,153 26,718,652 26,919,016 Effect of dilutive securities: Employee stock options and other 100,368 166,269 119,286 194,312 Diluted - weighted-average shares outstanding: 26,760,866 27,041,422 26,837,938 27,113,328 Net income per share: Basic $ 0.47 $ 0.60 $ 1.00 $ 1.18 Diluted $ 0.47 $ 0.60 $ 0.99 $ 1.17

Note 4 - Goodwill and Other Int

Note 4 - Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 4 There were no changes in the carrying amount of Goodwill during the three six June 30, 2020 Intangible assets other than goodwill at June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 Useful Weighted Average (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Life (in years) Useful Life Remaining (in years) Intangible assets with finite lives: Marketing assets $ 930 $ (574 ) $ 356 $ 930 $ (527 ) $ 403 10.0 3.8 Non-compete agreement 270 (230 ) 40 270 (222 ) 48 2.0 - 5.0 2.5 Software technology 13,229 (2,960 ) 10,269 13,229 (2,275 ) 10,954 10.0 7.5 Customer relationships 10,070 (4,874 ) 5,196 10,070 (4,106 ) 5,964 6.0 - 9.0 3.3 Total intangible assets $ 24,499 $ (8,638 ) $ 15,861 $ 24,499 $ (7,130 ) $ 17,369 Amortization expense for intangible assets was $0.8 million and $0.9 million for the three June 30, 2020 2019 six June 30, 2020 2019, Estimated aggregated amortization expense based on the current carrying value of the amortizable intangible assets is as follows: (in thousands) Estimated Amortization Expense Remaining 2020 $ 1,508 2021 3,016 2022 3,016 2023 2,813 2024 1,400 Thereafter 4,108 Total estimated amortization expense $ 15,861

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 5 Accounting Standards Codification (ASC 820 Fair Value Measuremen 820 820 three may Level 1—Quoted Level 2—Observable 1 not Level 3—Unobservable no The Company’s cash consists of bank deposits. The Company’s cash equivalents measured at fair value consist of money market mutual funds. The Company determines the fair value of these investments using Level 1 The following table summarizes financial assets as of June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents Money market mutual fund $ 26,088 $ - $ - $ 68,962 $ - $ - Total $ 26,088 $ - $ - $ 68,962 $ - $ -

Note 6 - Marketable Securities

Note 6 - Marketable Securities	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Investment [Text Block]	Note 6 The Company invests in short-term and long-term agency, municipal, corporate and other debt securities. The securities are categorized as held-to-maturity and are recorded at amortized cost, net of an allowance for credit losses. Categorization as held-to-maturity is based on the Company’s ability and intent to hold these securities to maturity. The following table summarizes information regarding the Company’s short-term and long-term marketable securities as of June 30, 2020 December 31, 2019 June 30, 2020 (in thousands) Cost Unrealized Gains Unrealized Losses Fair Value U.S. municipal securities $ 8,840 $ 71 $ - $ 8,911 Corporate debt securities 34,968 355 (2 ) 35,321 U.S. government agency securities 25,272 23 (5 ) 25,290 Certificates of deposit/time deposits 5,189 112 - 5,301 Commercial paper 2,986 13 - 2,999 Total marketable securities $ 77,255 $ 574 $ (7 ) $ 77,822 December 31, 2019 (in thousands) Cost Unrealized Gains Unrealized Losses Fair Value U.S. municipal securities $ 10,204 $ 9 $ (3 ) $ 10,210 Corporate debt securities 26,944 80 (12 ) 27,012 U.S. government agency securities 6,274 1 (7 ) 6,268 Certificates of deposit/time deposits 1,484 22 - 1,506 Commercial paper 3,491 - - 3,491 Total marketable securities $ 48,397 $ 112 $ (22 ) $ 48,487 Fair values for the corporate debt securities are primarily determined based on quoted market prices (Level 1 2 During the first 2020, 2016 13, Financial Instruments – Credit Losses. no 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 June 30, 2020 may may June 30, (in thousands) 2020 Due in one year or less $ 33,128 Due after one year through five years 44,127 Total marketable securities $ 77,255

Note 7 - Inventory

Note 7 - Inventory	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 7 Inventory consists primarily of raw materials, which are recorded at the lower of cost or market using the average-cost method, which approximates first first The Company’s inventory consisted of the following as of the dates indicated: June 30, December 31, (in thousands) 2020 2019 Raw materials $ 10,784 $ 9,818 Work in process 228 501 Total inventory 11,012 10,319 Allowance for obsolescence (238 ) (244 ) Inventory, net of allowance $ 10,774 $ 10,075

Note 8 - Stock-based Compensati

Note 8 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	Note 8 Under the Company’s 2012 2012 2012 ten may 2012 may not Employee Stock Purchase Plan The Company’s 2012 six May 15 November 15, first Stock-Based Compensation Expense Stock-based compensation expense was $3.6 million and $3.5 million for the three June 30, 2020 2019 six June 20, 2020 2019, Stock Options The following table summarizes stock option activity during the six June 30, 2020 Weighted- Average Stock Options Exercise Price Options outstanding at December 31, 2019 276,266 $ 72.38 Granted 60,065 105.79 Exercised (18,052 ) 49.68 Forfeited (36,841 ) 66.97 Options outstanding at June 30, 2020 281,438 $ 81.67 Exercisable at June 30, 2020 144,822 $ 65.88 The outstanding options generally have a term of ten four five first first The weighted-average grant date fair value of options that were granted during the six June 30, 2020 The following table provides the assumptions used in the Black-Scholes pricing model valuation of options during the six June 30, 2020 2019 Six Months Ended June 30, 2020 2019 Risk-free interest rate 0.50 - 1.47% 2.35 - 2.58% Expected life (years) 6.25 6.25 Expected volatility 42.40 - 43.83% 42.52 - 42.74% Expected dividend yield 0% 0% As of June 30, 2020 Restricted Stock Restricted stock awards are share-settled awards and restrictions lapse ratably over the vesting period, which is generally a period from four five first first The following table summarizes restricted stock activity during the six June 30, 2020 Weighted- Average Grant Date Restricted Fair Value Stock Per Share Restricted stock at December 31, 2019 314,973 $ 89.55 Granted 107,988 111.72 Restrictions lapsed (100,596 ) 84.57 Forfeited (9,253 ) 91.25 Restricted stock at June 30, 2020 313,112 $ 98.75 As of June 30, 2020 Performance Stock Performance stock units (PSUs) are expressed in terms of a target number of PSUs, with anywhere between 0 three 2017 2019 2020 The following table summarizes performance stock activity during the six June 30, 2020 Weighted- Average Grant Date Performance Fair Value Stock Per Share Performance stock at December 31, 2019 9,383 $ 58.35 Granted 19,956 118.66 Restrictions lapsed (7,113 ) 58.35 Performance change - - Forfeited (2,270 ) 58.35 Performance stock at June 30, 2020 19,956 $ 118.66 The following table provides the assumptions used in the Monte Carlo pricing model valuation of PSUs during the six June 30, 2020 Six Months Ended June 30, 2020 Risk-free interest rate 1.41% Expected life (years) 2.88 Expected volatility 38.70% Expected dividend yield 0% As of June 30, 2020 Employee Stock Purchase Plan The following table presents the assumptions used to estimate the fair value of the ESPP during the six June 30, 2020 2019 Six Months Ended June 30, 2020 2019 Risk-free interest rate 0.17 - 1.59% 2.33 - 2.35% Expected life (months) 6.00 6.00 Expected volatility 42.63 - 59.99% 37.36 - 53.57% Expected dividend yield 0% 0%

Note 9 - Accumulated Other Comp

Note 9 - Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Disclosure of Reclassification Amount [Text Block]	Note 9 Other comprehensive income (loss) is comprised entirely of foreign currency translation adjustments. The following table presents the changes in accumulated other comprehensive income (loss) balances during the three six June 30, 2020 2019 Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2020 2019 2020 2019 Foreign currency translation adjustments Balance at beginning of period $ (9,998 ) $ (8,016 ) $ (7,018 ) $ (8,492 ) Other comprehensive income (loss) before reclassifications 364 (478 ) (2,616 ) (2 ) Amounts reclassified from accumulated other comprehensive loss - - - - Net current-period other comprehensive income (loss) 364 (478 ) (2,616 ) (2 ) Balance at end of period $ (9,634 ) $ (8,494 ) $ (9,634 ) $ (8,494 )

Note 10 - Income Taxes

Note 10 - Income Taxes	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 10 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 three June 30, 2020 2019 six June 30, 2020 2019 three June 30, 2020 three June 30, 2020 2019 six June 30, 2020 six June 30, 2020 2019 The effective income tax rate for the six June 30, 2020 The Company had unrecognized tax benefits totaling $4.7 million as of June 30, 2020 December 31, 2019 The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020. 2017 2018 2019. June 30, 2020 December 31, 2020. 2021.

Note 11 - Segment Reporting

Note 11 - Segment Reporting	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 11 The Company’s reportable segments are based on the internal reporting used by the Company’s Chief Executive Officer, who is the chief operating decision maker (CODM), to assess operating performance and make decisions about the allocation of resources. The Corporate Unallocated and Japan category includes non-reportable segments, as well as research and development and general and administrative costs that the Company does not Intercompany transactions primarily relate to intercontinental activity and have been eliminated and are excluded from the reported amounts. The difference between income from operations and pre-tax income relates to foreign currency-related gains and losses and interest income on cash balances and investments, which are not Revenue and income from operations by reportable segment for the three six June 30, 2020 2019 Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Revenue: United States $ 86,823 $ 91,149 $ 176,899 $ 178,960 Europe 16,729 20,940 37,516 42,194 Japan 3,023 3,843 7,268 8,230 Total revenue $ 106,575 $ 115,932 $ 221,683 $ 229,384 Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Income from Operations: United States $ 24,349 $ 27,948 $ 49,438 $ 54,258 Europe 2,261 3,756 6,625 7,977 Corporate Unallocated and Japan (12,259 ) (12,131 ) (24,887 ) (23,214 ) Total Income from Operations $ 14,351 $ 19,573 $ 31,176 $ 39,021 Total long-lived assets at June 30, 2020 December 31, 2019 June 30, December 31, (in thousands) 2020 2019 Total long-lived assets: United States $ 220,183 $ 210,171 Europe 52,817 45,019 Japan 8,129 8,522 Total Assets $ 281,129 $ 263,712 Revenue by product line for the three six June 30, 2020 2019 Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Revenue: Injection Molding $ 57,894 $ 55,457 $ 112,670 $ 110,768 CNC Machining 28,760 38,888 66,645 76,760 3D Printing 14,236 15,266 30,184 29,746 Sheet Metal 4,669 5,472 10,318 10,497 Other Revenue 1,016 849 1,866 1,613 Total revenue $ 106,575 $ 115,932 $ 221,683 $ 229,384

Note 3 - Net Income Per Commo_2

Note 3 - Net Income Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, (in thousands, except share and per share amounts) 2020 2019 2020 2019 Net income $ 12,607 $ 16,166 $ 26,591 $ 31,677 Basic - weighted-average shares outstanding: 26,660,498 26,875,153 26,718,652 26,919,016 Effect of dilutive securities: Employee stock options and other 100,368 166,269 119,286 194,312 Diluted - weighted-average shares outstanding: 26,760,866 27,041,422 26,837,938 27,113,328 Net income per share: Basic $ 0.47 $ 0.60 $ 1.00 $ 1.18 Diluted $ 0.47 $ 0.60 $ 0.99 $ 1.17

Note 4 - Goodwill and Other I_2

Note 4 - Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	June 30, 2020 December 31, 2019 Useful Weighted Average (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Life (in years) Useful Life Remaining (in years) Intangible assets with finite lives: Marketing assets $ 930 $ (574 ) $ 356 $ 930 $ (527 ) $ 403 10.0 3.8 Non-compete agreement 270 (230 ) 40 270 (222 ) 48 2.0 - 5.0 2.5 Software technology 13,229 (2,960 ) 10,269 13,229 (2,275 ) 10,954 10.0 7.5 Customer relationships 10,070 (4,874 ) 5,196 10,070 (4,106 ) 5,964 6.0 - 9.0 3.3 Total intangible assets $ 24,499 $ (8,638 ) $ 15,861 $ 24,499 $ (7,130 ) $ 17,369
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	(in thousands) Estimated Amortization Expense Remaining 2020 $ 1,508 2021 3,016 2022 3,016 2023 2,813 2024 1,400 Thereafter 4,108 Total estimated amortization expense $ 15,861

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	June 30, 2020 December 31, 2019 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents Money market mutual fund $ 26,088 $ - $ - $ 68,962 $ - $ - Total $ 26,088 $ - $ - $ 68,962 $ - $ -

Note 6 - Marketable Securities

Note 6 - Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Debt Securities, Held-to-maturity [Table Text Block]	June 30, 2020 (in thousands) Cost Unrealized Gains Unrealized Losses Fair Value U.S. municipal securities $ 8,840 $ 71 $ - $ 8,911 Corporate debt securities 34,968 355 (2 ) 35,321 U.S. government agency securities 25,272 23 (5 ) 25,290 Certificates of deposit/time deposits 5,189 112 - 5,301 Commercial paper 2,986 13 - 2,999 Total marketable securities $ 77,255 $ 574 $ (7 ) $ 77,822 December 31, 2019 (in thousands) Cost Unrealized Gains Unrealized Losses Fair Value U.S. municipal securities $ 10,204 $ 9 $ (3 ) $ 10,210 Corporate debt securities 26,944 80 (12 ) 27,012 U.S. government agency securities 6,274 1 (7 ) 6,268 Certificates of deposit/time deposits 1,484 22 - 1,506 Commercial paper 3,491 - - 3,491 Total marketable securities $ 48,397 $ 112 $ (22 ) $ 48,487
Investments Classified by Contractual Maturity Date [Table Text Block]	June 30, (in thousands) 2020 Due in one year or less $ 33,128 Due after one year through five years 44,127 Total marketable securities $ 77,255

Note 7 - Inventory (Tables)

Note 7 - Inventory (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, December 31, (in thousands) 2020 2019 Raw materials $ 10,784 $ 9,818 Work in process 228 501 Total inventory 11,012 10,319 Allowance for obsolescence (238 ) (244 ) Inventory, net of allowance $ 10,774 $ 10,075

Note 8 - Stock-based Compensa_2

Note 8 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Weighted- Average Stock Options Exercise Price Options outstanding at December 31, 2019 276,266 $ 72.38 Granted 60,065 105.79 Exercised (18,052 ) 49.68 Forfeited (36,841 ) 66.97 Options outstanding at June 30, 2020 281,438 $ 81.67 Exercisable at June 30, 2020 144,822 $ 65.88
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Six Months Ended June 30, 2020 2019 Risk-free interest rate 0.50 - 1.47% 2.35 - 2.58% Expected life (years) 6.25 6.25 Expected volatility 42.40 - 43.83% 42.52 - 42.74% Expected dividend yield 0% 0%
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Weighted- Average Grant Date Restricted Fair Value Stock Per Share Restricted stock at December 31, 2019 314,973 $ 89.55 Granted 107,988 111.72 Restrictions lapsed (100,596 ) 84.57 Forfeited (9,253 ) 91.25 Restricted stock at June 30, 2020 313,112 $ 98.75
Schedule of Nonvested Performance-based Units Activity [Table Text Block]	Weighted- Average Grant Date Performance Fair Value Stock Per Share Performance stock at December 31, 2019 9,383 $ 58.35 Granted 19,956 118.66 Restrictions lapsed (7,113 ) 58.35 Performance change - - Forfeited (2,270 ) 58.35 Performance stock at June 30, 2020 19,956 $ 118.66
Schedule of Share-based Payment Award, Awards Other Than Stock Options, Valuation Assumptions [Table Text Block]	Six Months Ended June 30, 2020 Risk-free interest rate 1.41% Expected life (years) 2.88 Expected volatility 38.70% Expected dividend yield 0%
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]	Six Months Ended June 30, 2020 2019 Risk-free interest rate 0.17 - 1.59% 2.33 - 2.35% Expected life (months) 6.00 6.00 Expected volatility 42.63 - 59.99% 37.36 - 53.57% Expected dividend yield 0% 0%

Note 9 - Accumulated Other Co_2

Note 9 - Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Comprehensive Income (Loss) [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2020 2019 2020 2019 Foreign currency translation adjustments Balance at beginning of period $ (9,998 ) $ (8,016 ) $ (7,018 ) $ (8,492 ) Other comprehensive income (loss) before reclassifications 364 (478 ) (2,616 ) (2 ) Amounts reclassified from accumulated other comprehensive loss - - - - Net current-period other comprehensive income (loss) 364 (478 ) (2,616 ) (2 ) Balance at end of period $ (9,634 ) $ (8,494 ) $ (9,634 ) $ (8,494 )

Note 11 - Segment Reporting (Ta

Note 11 - Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Income from Operations by Geographic Area [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Income from Operations: United States $ 24,349 $ 27,948 $ 49,438 $ 54,258 Europe 2,261 3,756 6,625 7,977 Corporate Unallocated and Japan (12,259 ) (12,131 ) (24,887 ) (23,214 ) Total Income from Operations $ 14,351 $ 19,573 $ 31,176 $ 39,021
Long-lived Assets by Geographic Areas [Table Text Block]	June 30, December 31, (in thousands) 2020 2019 Total long-lived assets: United States $ 220,183 $ 210,171 Europe 52,817 45,019 Japan 8,129 8,522 Total Assets $ 281,129 $ 263,712
Disaggregation of Revenue [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Revenue: Injection Molding $ 57,894 $ 55,457 $ 112,670 $ 110,768 CNC Machining 28,760 38,888 66,645 76,760 3D Printing 14,236 15,266 30,184 29,746 Sheet Metal 4,669 5,472 10,318 10,497 Other Revenue 1,016 849 1,866 1,613 Total revenue $ 106,575 $ 115,932 $ 221,683 $ 229,384
Operating Segments [Member]
Notes Tables
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2020 2019 2020 2019 Revenue: United States $ 86,823 $ 91,149 $ 176,899 $ 178,960 Europe 16,729 20,940 37,516 42,194 Japan 3,023 3,843 7,268 8,230 Total revenue $ 106,575 $ 115,932 $ 221,683 $ 229,384

Note 3 - Net Income Per Commo_3

Note 3 - Net Income Per Common Share - Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Net income	$ 12,607	$ 13,984	$ 16,166	$ 15,511	$ 26,591	$ 31,677
Basic - weighted-average shares outstanding: (in shares)	26,660,498		26,875,153		26,718,652	26,919,016
Employee stock options and other (in shares)	100,368		166,269		119,286	194,312
Diluted - weighted-average shares outstanding: (in shares)	26,760,866		27,041,422		26,837,938	27,113,328
Basic (in dollars per share)	$ 0.47		$ 0.60		$ 1	$ 1.18
Diluted (in dollars per share)	$ 0.47		$ 0.60		$ 0.99	$ 1.17

Note 4 - Goodwill and Other I_3

Note 4 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Goodwill, Period Increase (Decrease), Total	$ 0		$ 0
Amortization of Intangible Assets, Total	$ 800	$ 900	$ 1,500	$ 1,700

Note 4 - Goodwill and Other I_4

Note 4 - Goodwill and Other Intangible Assets - Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Gross	$ 24,499	$ 24,499
Accumulated Amortization	(8,638)	(7,130)
Net	15,861	17,369
Marketing-Related Intangible Assets [Member]
Gross	930	930
Accumulated Amortization	(574)	(527)
Net	$ 356	403
Useful Life (Year)	10 years
Weighted average useful life remaining (Year)	3 years 9 months 18 days
Noncompete Agreements [Member]
Gross	$ 270	270
Accumulated Amortization	(230)	(222)
Net	$ 40	48
Weighted average useful life remaining (Year)	2 years 6 months
Noncompete Agreements [Member] | Minimum [Member]
Useful Life (Year)	2 years
Noncompete Agreements [Member] | Maximum [Member]
Useful Life (Year)	5 years
Computer Software, Intangible Asset [Member]
Gross	$ 13,229	13,229
Accumulated Amortization	(2,960)	(2,275)
Net	$ 10,269	10,954
Useful Life (Year)	10 years
Weighted average useful life remaining (Year)	7 years 6 months
Customer Relationships [Member]
Gross	$ 10,070	10,070
Accumulated Amortization	(4,874)	(4,106)
Net	$ 5,196	$ 5,964
Weighted average useful life remaining (Year)	3 years 3 months 18 days
Customer Relationships [Member] | Minimum [Member]
Useful Life (Year)	6 years
Customer Relationships [Member] | Maximum [Member]
Useful Life (Year)	9 years

Note 4 - Goodwill and Other I_5

Note 4 - Goodwill and Other Intangible Assets - Estimated Aggregated Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Remaining 2020	$ 1,508
2021	3,016
2022	3,016
2023	2,813
2024	1,400
Thereafter	4,108
Total estimated amortization expense	$ 15,861	$ 17,369

Note 5 - Fair Value Measureme_3

Note 5 - Fair Value Measurements - Fair Value of Financial Assets Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Inputs, Level 1 [Member]
Money market mutual fund	$ 26,088	$ 68,962
Total	26,088	68,962
Fair Value, Inputs, Level 2 [Member]
Money market mutual fund	0	0
Total	0	0
Fair Value, Inputs, Level 3 [Member]
Money market mutual fund	0	0
Total	$ 0	$ 0

Note 6 - Marketable Securitie_2

Note 6 - Marketable Securities - Short-term and Long-term Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Amortized Cost	$ 77,255	$ 48,397
Unrealized Gains	574	112
Unrealized Losses	(7)	(22)
Fair Value	77,822	48,487
Bank Time Deposits [Member]
Amortized Cost	5,189	1,484
Unrealized Gains	112	22
Unrealized Losses	0	0
Fair Value	5,301	1,506
US States and Political Subdivisions Debt Securities [Member]
Amortized Cost	8,840	10,204
Unrealized Gains	71	9
Unrealized Losses	0	(3)
Fair Value	8,911	10,210
Corporate Debt Securities [Member]
Amortized Cost	34,968	26,944
Unrealized Gains	355	80
Unrealized Losses	(2)	(12)
Fair Value	35,321	27,012
US Government Agencies Debt Securities [Member]
Amortized Cost	25,272	6,274
Unrealized Gains	23	1
Unrealized Losses	(5)	(7)
Fair Value	25,290	6,268
Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Amortized Cost	2,986	3,491
Unrealized Gains	13	0
Unrealized Losses	0	0
Fair Value	$ 2,999	$ 3,491

Note 6 - Marketable Securitie_3

Note 6 - Marketable Securities - Balance of Held-to-maturity Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Due in one year or less	$ 33,128
Due after one year through five years	44,127
Total marketable securities	$ 77,255	$ 48,397

Note 7 - Inventory - Inventory

Note 7 - Inventory - Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Raw materials	$ 10,784	$ 9,818
Work in process	228	501
Total inventory	11,012	10,319
Allowance for obsolescence	(238)	(244)
Inventory, net of allowance	$ 10,774	$ 10,075

Note 8 - Stock-based Compensa_3

Note 8 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement, Expense	$ 3.6	$ 3.5	$ 6.7	$ 6.5
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 45.32
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date			15.00%
Employee Stock Purchase Plan, Offering Period (Month)			6 months
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent			85.00%
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			10 years
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	5.3		$ 5.3
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			3 years
Share-based Payment Arrangement, Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			4 years
Share-based Payment Arrangement, Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			5 years
Restricted Stock [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	27.4		$ 27.4
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			2 years 9 months 18 days
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			4 years
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			5 years
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			3 years
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 2.1		$ 2.1
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			2 years 7 months 6 days
Percentage of Target Number Capable of Being Earned and Vesting, Lower Limit	0.00%		0.00%
Percentage of Target Number Capable of Being Earned and Vesting, Upper Limit	150.00%		150.00%
Long-Term Incentive Plan 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			10 years

Note 8 - Stock-based Compensa_4

Note 8 - Stock-based Compensation - Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Options outstanding (in shares) | shares	276,266
Options outstanding, weighted-average exercise price (in dollars per share) | $ / shares	$ 72.38
Granted (in shares) | shares	60,065
Granted, weighted-average exercise price (in dollars per share) | $ / shares	$ 105.79
Exercised (in shares) | shares	(18,052)
Exercised, weighted-average exercise price (in dollars per share) | $ / shares	$ 49.68
Forfeited (in shares) | shares	(36,841)
Forfeited, weighted-average exercise price (in dollars per share) | $ / shares	$ 66.97
Options outstanding (in shares) | shares	281,438
Options outstanding, weighted-average exercise price (in dollars per share) | $ / shares	$ 81.67
Options exercisable (in shares) | shares	144,822
Options exercisable, weighted-average exercise price (in dollars per share) | $ / shares	$ 65.88

Note 8 - Stock-based Compensa_5

Note 8 - Stock-based Compensation - Assumptions Used in the Valuation of Options (Details) - Share-based Payment Arrangement, Option [Member]	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Expected life (years) (Year)	6 years 3 months	6 years 3 months
Expected dividend yield	0.00%	0.00%
Minimum [Member]
Risk-free interest rate	0.50%	2.35%
Expected volatility	42.40%	42.52%
Maximum [Member]
Risk-free interest rate	1.47%	2.58%
Expected volatility	43.83%	42.74%

Note 8 - Stock-based Compensa_6

Note 8 - Stock-based Compensation - Restricted Stock Options (Details) - Restricted Stock [Member]	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Restricted stock (in shares) | shares	314,973
Restricted stock, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 89.55
Granted (in shares) | shares	107,988
Granted, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 111.72
Restrictions lapsed (in shares) | shares	(100,596)
Restrictions lapsed, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 84.57
Forfeited (in shares) | shares	(9,253)
Forfeited, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 91.25
Restricted stock (in shares) | shares	313,112
Restricted stock, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 98.75

Note 8 - Stock-based Compensa_7

Note 8 - Stock-based Compensation - Performance Stock (Details) - Performance Shares [Member]	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Performance stock (in shares) | shares	9,383
Restricted stock, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 58.35
Granted (in shares) | shares	19,956
Granted, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 118.66
Restrictions lapsed (in shares) | shares	(7,113)
Restrictions lapsed, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 58.35
Performance change (in shares) | shares	0
Performance change, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 0
Forfeited (in shares) | shares	(2,270)
Forfeited, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 58.35
Performance stock (in shares) | shares	19,956
Restricted stock, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 118.66

Note 8 - Stock-based Compensa_8

Note 8 - Stock-based Compensation - Assumptions Used in the Valuation of Performance Stock (Details) - Performance Shares [Member]	6 Months Ended
	Jun. 30, 2020
Risk-free interest rate	1.41%
Expected life (years) (Year)	2 years 10 months 17 days
Expected volatility	38.70%
Expected dividend yield	0.00%

Note 8 - Stock-based Compensa_9

Note 8 - Stock-based Compensation - Assumptions Used to Estimate the Fair Value of the ESPP (Details) - Employee Stock Purchase Plan [Member]	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Expected life (months) (Year)	6 years	6 years
Expected dividend yield	0.00%	0.00%
Minimum [Member]
Risk-free interest rate	0.17%	2.33%
Expected volatility	42.63%	37.36%
Maximum [Member]
Risk-free interest rate	1.59%	2.35%
Expected volatility	59.99%	53.57%

Note 9 - Accumulated Other Co_3

Note 9 - Accumulated Other Comprehensive Loss - Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Balance	$ 587,740	$ 542,795	$ 585,790	$ 541,497
Balance	601,249	558,113	601,249	558,113
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(9,998)	(8,016)	(7,018)	(8,492)
Other comprehensive income (loss) before reclassifications	364	(478)	(2,616)	(2)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Net current-period other comprehensive income (loss)	364	(478)	(2,616)	(2)
Balance	$ (9,634)	$ (8,494)	$ (9,634)	$ (8,494)

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Income Tax Expense (Benefit), Total	$ 2,511	$ 4,532	$ 6,406	$ 8,682
Effective Income Tax Rate Reconciliation, Percent, Total	16.60%	21.90%	19.40%	21.50%
Effective Income Tax Rate Continuing Operations Increase (Decrease) During the Period	(5.30%)		(2.10%)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%
Unrecognized Tax Benefits, Ending Balance	$ 4,700		$ 4,700		$ 4,600
Income Taxes Payable, CARES Act	(2,600)		(2,600)
Deferred Tax Liabilities, CARES Act	$ 2,600		$ 2,600

Note 11 - Segment Reporting - R

Note 11 - Segment Reporting - Revenue From Operations by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue	$ 106,575	$ 115,932	$ 221,683	$ 229,384
Operating Segments [Member]
Revenue	106,575	115,932	221,683	229,384
Operating Segments [Member] | United States Segment [Member]
Revenue	86,823	91,149	176,899	178,960
Operating Segments [Member] | Europe Segment [Member]
Revenue	16,729	20,940	37,516	42,194
Operating Segments [Member] | Japan Segment [Member]
Revenue	$ 3,023	$ 3,843	$ 7,268	$ 8,230

Note 11 - Segment Reporting - I

Note 11 - Segment Reporting - Income From Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income from operations	$ 14,351	$ 19,573	$ 31,176	$ 39,021
Operating Segments [Member] | United States Segment [Member]
Income from operations	24,349	27,948	49,438	54,258
Operating Segments [Member] | Europe Segment [Member]
Income from operations	2,261	3,756	6,625	7,977
Operating Segments [Member] | Corporate Unallocated and Japan Segment[Member]
Income from operations	$ (12,259)	$ (12,131)	$ (24,887)	$ (23,214)

Note 11 - Segment Reporting - L

Note 11 - Segment Reporting - Long-lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Long-lived assets	$ 281,129	$ 263,712
Operating Segments [Member]
Long-lived assets	281,129	263,712
Operating Segments [Member] | United States Segment [Member]
Long-lived assets	220,183	210,171
Operating Segments [Member] | Europe Segment [Member]
Long-lived assets	52,817	45,019
Operating Segments [Member] | Japan Segment [Member]
Long-lived assets	$ 8,129	$ 8,522

Note 11 - Segment Reporting - D

Note 11 - Segment Reporting - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue	$ 106,575	$ 115,932	$ 221,683	$ 229,384
Injection Molding (Protomold) [Member]
Revenue	57,894	55,457	112,670	110,768
CNC Machining (Firstcut) [Member]
Revenue	28,760	38,888	66,645	76,760
3D Printing (Fineline) [Member]
Revenue	14,236	15,266	30,184	29,746
Sheet Metal [Member]
Revenue	4,669	5,472	10,318	10,497
Other Products [Member]
Revenue	$ 1,016	$ 849	$ 1,866	$ 1,613