Proto Labs Company Profile (NYSE:PRLB)

About Proto Labs (NYSE:PRLB)

Proto Labs logoProto Labs, Inc. is an e-commerce driven digital manufacturer of on-demand three dimensional (3D) printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. The Company's geographic segments include the United States, Europe and Japan. The Company targets its products to the product developers and engineers who use 3D computer-aided design (3D CAD) software to design products across a range of end markets. Its product lines include Injection Molding, CNC Machining and 3D Printing. Its Injection Molding product line is used for prototype, on-demand and short-run production. Its CNC Machining product line uses commercially available CNC machines to cut plastic or metal blocks into one or more custom parts based on the 3D CAD model uploaded by the product developer or engineer. Its 3D Printing product line includes stereolithography (SL), selective laser sintering (SLS) and direct metal laser sintering (DMLS) processes.

Industry, Sector and Symbol:
  • Sector: Industrial Products
  • Industry: Industrial Machinery & Equipment - NEC
  • Sub-Industry: Industrial Machinery
  • Symbol: NYSE:PRLB
  • CUSIP: 74371310
  • Web:
  • Market Cap: $1.89836 billion
  • Outstanding Shares: 26,494,000
Average Prices:
  • 50 Day Moving Avg: $67.30
  • 200 Day Moving Avg: $57.90
  • 52 Week Range: $43.10 - $72.15
  • Trailing P/E Ratio: 42.28
  • Foreward P/E Ratio: 31.80
  • P/E Growth: 1.72
Sales & Book Value:
  • Annual Revenue: $305.65 million
  • Price / Sales: 6.12
  • Book Value: $14.82 per share
  • Price / Book: 4.76
  • EBIDTA: $83.65 million
  • Net Margins: 14.48%
  • Return on Equity: 11.84%
  • Return on Assets: 10.84%
  • Current Ratio: 6.12%
  • Quick Ratio: 5.80%
  • Average Volume: 194,729 shs.
  • Beta: 0.93
  • Short Ratio: 24.85

Frequently Asked Questions for Proto Labs (NYSE:PRLB)

What is Proto Labs' stock symbol?

Proto Labs trades on the New York Stock Exchange (NYSE) under the ticker symbol "PRLB."

How will Proto Labs' stock buyback program work?

Proto Labs announced that its Board of Directors has initiated a share repurchase program on Monday, April 10th 2017, which authorizes the company to buyback $50,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

How were Proto Labs' earnings last quarter?

Proto Labs, Inc. (NYSE:PRLB) released its quarterly earnings data on Thursday, April, 27th. The company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.40 by $0.11. The company earned $80.20 million during the quarter, compared to analyst estimates of $75.05 million. Proto Labs had a net margin of 14.48% and a return on equity of 11.84%. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. View Proto Labs' Earnings History.

What guidance has Proto Labs issued on next quarter's earnings?

Proto Labs updated its second quarter earnings guidance on Thursday, April, 27th. The company provided earnings per share (EPS) guidance of $0.45-0.51 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.48. The company issued revenue guidance of $77-83 million, compared to the consensus revenue estimate of $78.44 million.

Where is Proto Labs' stock going? Where will Proto Labs' stock price be in 2017?

2 equities research analysts have issued twelve-month price targets for Proto Labs' stock. Their forecasts range from $45.00 to $65.00. On average, they expect Proto Labs' stock price to reach $55.00 in the next year. View Analyst Ratings for Proto Labs.

Who are some of Proto Labs' key competitors?

Who are Proto Labs' key executives?

Proto Labs' management team includes the folowing people:

  • Lawrence J. Lukis, Chairman of the Board
  • Sven A. Wehrwein CPA, Independent Chairman of the Board
  • Victoria M. Holt, President, Chief Executive Officer, Director
  • John A. Way, Chief Financial Officer, Executive Vice President of Development
  • Arthur R. Baker III, Chief Technology Officer
  • John B. Tumelty, Vice President, Managing Director – Europe, Middle East and Africa, General Manager
  • Robert Bodor, Vice President, General Manager - Americas
  • David M. Fein, Chief Revenue Officer
  • Archie C. Black, Independent Director
  • Sujeet Chand, Independent Director

Who owns Proto Labs stock?

Proto Labs' stock is owned by many different of institutional and retail investors. Top institutional shareholders include Handelsbanken Fonder AB (1.76%), Conestoga Capital Advisors LLC (1.69%), Capital Investment Services of America Inc. (0.55%), Independence Advisors LLC (0.31%), Handelsinvest Investeringsforvaltning (0.26%) and US Bancorp DE (0.20%). Company insiders that own Proto Labs stock include Arthur R Baker III, Jacqueline D Schneider, John B Goodman, John B Tumelty, Rainer Gawlick and Victoria M Holt. View Institutional Ownership Trends for Proto Labs.

Who sold Proto Labs stock? Who is selling Proto Labs stock?

Proto Labs' stock was sold by a variety of institutional investors in the last quarter, including Bank of Montreal Can, Private Capital Management Inc., US Bancorp DE, Capstone Asset Management Co. and Integrated Investment Consultants LLC. Company insiders that have sold Proto Labs stock in the last year include John B Tumelty, Rainer Gawlick and Victoria M Holt. View Insider Buying and Selling for Proto Labs.

Who bought Proto Labs stock? Who is buying Proto Labs stock?

Proto Labs' stock was bought by a variety of institutional investors in the last quarter, including Handelsbanken Fonder AB, Independence Advisors LLC, Handelsinvest Investeringsforvaltning, Conestoga Capital Advisors LLC, BB&T Corp, Capital Investment Services of America Inc., State of Alaska Department of Revenue and Aperio Group LLC. View Insider Buying and Selling for Proto Labs.

How do I buy Proto Labs stock?

Shares of Proto Labs can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

What is Proto Labs' stock price today?

One share of Proto Labs stock can currently be purchased for approximately $70.60.

MarketBeat Community Rating for Proto Labs (NYSE PRLB)
Community Ranking:  2.2 out of 5 ( )
Outperform Votes:  114 (Vote Outperform)
Underperform Votes:  147 (Vote Underperform)
Total Votes:  261
MarketBeat's community ratings are surveys of what our community members think about Proto Labs and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.

Analyst Ratings

Consensus Ratings for Proto Labs (NYSE:PRLB) (How are Consensus Ratings Calculated?)
Ratings Breakdown: 2 Hold Ratings
Consensus Rating:Hold (Score: 2.00)
Consensus Price Target: $55.00 (22.10% downside)

Analysts' Ratings History for Proto Labs (NYSE:PRLB)
DateFirmActionRatingPrice TargetImpact on Share PriceDetails
6/27/2017Dougherty & CoUpgradeSell -> NeutralHighView Rating Details
10/28/2016Canaccord GenuityDowngradeBuy -> HoldN/AView Rating Details
6/6/2016FBR & CoReiterated RatingBuyN/AView Rating Details
6/5/2016Pacific CrestReiterated RatingEqual WeightN/AView Rating Details
4/29/2016Jefferies Group LLCReiterated RatingHold$68.00N/AView Rating Details
4/29/2016StephensDowngradeOverweight -> Equal WeightN/AView Rating Details
10/15/2015Piper Jaffray CompaniesLower Price TargetNeutral$73.00 -> $71.00N/AView Rating Details
9/11/2015William BlairReiterated RatingOutperformN/AView Rating Details
8/26/2015Oppenheimer Holdings, Inc.Reiterated RatingOutperform$95.00 -> $88.00N/AView Rating Details
(Data available from 7/21/2015 forward)


Earnings History for Proto Labs (NYSE:PRLB)
Earnings by Quarter for Proto Labs (NYSE:PRLB)
Earnings History by Quarter for Proto Labs (NYSE PRLB)
DateQuarterConsensus EstimateActual EPSRevenue EstimateActual RevenueRelease LinkConference CallDetails
4/27/2017Q1 2017$0.40$0.51$75.05 million$80.20 millionViewN/AView Earnings Details
2/9/2017Q416$0.39$0.41$72.41 million$72.40 millionViewListenView Earnings Details
10/27/2016Q316$0.39$0.45$29.97 million$78.20 millionViewListenView Earnings Details
7/28/2016Q216$0.48$0.45$77.20 million$75.00 millionViewListenView Earnings Details
4/28/2016Q116$0.46$0.44$74.30 million$72.60 millionViewListenView Earnings Details
2/4/2016Q415$0.47$0.50$71.95 million$73.80 millionViewListenView Earnings Details
10/22/2015Q315$0.53$0.52$67.04 million$67.80 millionViewListenView Earnings Details
7/23/2015Q215$0.48$0.50$62.62 million$64.00 millionViewListenView Earnings Details
4/23/2015Q115$0.45$0.45$58.20 million$58.50 millionViewListenView Earnings Details
2/5/2015Q414$0.42$0.43$54.55 million$56.10 millionViewListenView Earnings Details
10/23/2014Q314$0.47$0.44$55.50 million$54.60 millionViewListenView Earnings Details
7/24/2014Q214$0.42$0.45$51.43 million$52.90 millionViewListenView Earnings Details
5/1/2014Q114$0.39$0.39$46.72 million$46.10 millionViewListenView Earnings Details
2/11/2014Q413$0.36$0.39$41.68 million$44.00 millionViewListenView Earnings Details
10/31/2013Q313$0.36$0.37$41.70 million$42.00 millionViewListenView Earnings Details
8/1/2013Q2 2013$0.35$0.36$40.25 million$39.70 millionViewListenView Earnings Details
4/25/2013Q1 2013$0.32$0.35$36.88 million$37.30 millionViewListenView Earnings Details
2/13/2013Q4 2012$0.26$0.31$32.66 million$33.62 millionViewListenView Earnings Details
10/25/2012$0.23$0.29ViewN/AView Earnings Details
7/24/2012$0.20$0.23ViewN/AView Earnings Details
5/3/2012$0.21$0.24ViewN/AView Earnings Details
(Data available from 1/1/2011 forward)


Earnings Estimates for Proto Labs (NYSE:PRLB)
Current Year EPS Consensus Estimate: $1.84 EPS
Next Year EPS Consensus Estimate: $2.22 EPS


Dividend History for Proto Labs (NYSE:PRLB)
No dividend announcements for this company have been tracked by

Insider Trades

Insider Trading and Institutional Ownership History for Proto Labs (NYSE:PRLB)
Insider Ownership Percentage: 7.78%
Insider Trades by Quarter for Proto Labs (NYSE:PRLB)
Institutional Ownership by Quarter for Proto Labs (NYSE:PRLB)
Insider Trades by Quarter for Proto Labs (NYSE:PRLB)
Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionDetails
5/22/2017Rainer GawlickDirectorSell833$64.05$53,353.65View SEC Filing  
5/8/2017John B TumeltyDirectorSell11,896$61.72$734,221.12View SEC Filing  
2/15/2017John B TumeltyVPSell862$56.78$48,944.36View SEC Filing  
2/15/2017Victoria M HoltInsiderSell2,025$56.80$115,020.00View SEC Filing  
9/1/2016Arthur R Baker IIIInsiderBuy3,000$55.00$165,000.00View SEC Filing  
5/19/2016Rainer GawlickDirectorSell357$61.20$21,848.40View SEC Filing  
4/14/2016Rainer GawlickDirectorSell4,000$80.00$320,000.00View SEC Filing  
4/4/2016Jacqueline D SchneiderVPSell19,844$77.66$1,541,085.04View SEC Filing  
3/31/2016John B TumeltyDirectorSell21,000$77.51$1,627,710.00View SEC Filing  
3/7/2016John B GoodmanDirectorSell1,000$73.56$73,560.00View SEC Filing  
2/17/2016Jacqueline D SchneiderVPSell313$63.52$19,881.76View SEC Filing  
2/17/2016John B TumeltyDirectorSell410$63.94$26,215.40View SEC Filing  
8/17/2015John B TumeltyDirectorSell9,400$73.83$694,002.00View SEC Filing  
7/23/2015Jacqueline D SchneiderVPSell30,000$74.75$2,242,500.00View SEC Filing  
7/1/2015John B GoodmanDirectorSell500$67.50$33,750.00View SEC Filing  
4/16/2015Donald G KrantzVPSell1,195$79.00$94,405.00View SEC Filing  
4/15/2015Jacqueline D SchneiderVPSell2,000$77.80$155,600.00View SEC Filing  
4/13/2015John B TumeltyDirectorSell21,000$75.07$1,576,470.00View SEC Filing  
10/3/2014John B GoodmanDirectorSell1,000$70.20$70,200.00View SEC Filing  
10/1/2014John B GoodmanDirectorSell2,000$68.35$136,700.00View SEC Filing  
7/31/2014John R JuddCFOSell75,000$80.84$6,063,000.00View SEC Filing  
7/1/2014Jacqueline D SchneiderVPSell14,000$88.98$1,245,720.00View SEC Filing  
7/1/2014John B GoodmanDirectorSell3,000$82.91$248,730.00View SEC Filing  
6/26/2014Rainer GawlickDirectorSell1,000$80.42$80,420.00View SEC Filing  
4/2/2014John GoodmanDirectorSell6,762$71.16$481,183.92View SEC Filing  
2/19/2014Lawrence LukisChairmanSell1,000,000$76.00$76,000,000.00View SEC Filing  
2/13/2014Victoria HoltCEOBuy3,200$78.64$251,648.00View SEC Filing  
2/7/2014Robert BodorCTOSell4,000$80.37$321,480.00View SEC Filing  
1/6/2014John TumeltyInsiderSell4,464$73.02$325,961.28View SEC Filing  
11/21/2013John TumeltyInsiderSell1,750$77.00$134,750.00View SEC Filing  
11/12/2013Jacqueline SchneiderVPSell2,000$88.90$177,800.00View SEC Filing  
11/7/2013Bradley ClevelandCEOSell134,564$81.97$11,030,211.08View SEC Filing  
11/5/2013Bradley ClevelandCEOSell93,250$86.20$8,038,150.00View SEC Filing  
11/1/2013John B GoodmanDirectorSell2,000$83.88$167,760.00View SEC Filing  
10/31/2013John R JuddCFOSell50,000$76.96$3,848,000.00View SEC Filing  
10/21/2013Jacqueline D SchneiderVPSell2,000$83.90$167,800.00View SEC Filing  
10/21/2013John B TumeltyInsiderSell1,750$83.09$145,407.50View SEC Filing  
9/23/2013Jacqueline SchneiderVPSell2,000$78.92$157,840.00View SEC Filing  
9/23/2013John TumeltyInsiderSell1,750$78.00$136,500.00View SEC Filing  
9/23/2013Rainer GawlickDirectorSell17,500$77.71$1,359,925.00View SEC Filing  
9/10/2013Bradley A ClevelandCEOSell95,000$74.30$7,058,500.00View SEC Filing  
9/9/2013Jacqueline D SchneiderVPSell2,000$73.90$147,800.00View SEC Filing  
9/4/2013Brian K SmithDirectorSell10,177$74.85$761,748.45View SEC Filing  
9/3/2013Margaret LoftusDirectorSell10,000$71.97$719,700.00View SEC Filing  
8/21/2013John TumeltyInsiderSell1,750$68.43$119,752.50View SEC Filing  
8/5/2013Brian SmithDirectorSell40,000$68.48$2,739,200.00View SEC Filing  
8/5/2013Lawrence LukisChairmanSell1,000,000$65.57$65,570,000.00View SEC Filing  
8/1/2013John B GoodmanDirectorSell2,000$63.79$127,580.00View SEC Filing  
8/1/2013John JuddCFOSell50,000$63.77$3,188,500.00View SEC Filing  
7/22/2013John B TumeltyInsiderSell1,750$64.00$112,000.00View SEC Filing  
7/8/2013John B TumeltyInsiderSell10,500$64.69$679,245.00View SEC Filing  
7/1/2013Rainer GawlickDirectorSell2,000$65.80$131,600.00View SEC Filing  
5/30/2013Margaret A LoftusDirectorSell10,000$53.83$538,300.00View SEC Filing  
5/29/2013Rainer GawlickDirectorSell2,000$53.40$106,800.00View SEC Filing  
5/10/2013Jacqueline D SchneiderVPSell7,000$57.80$404,600.00View SEC Filing  
5/2/2013Brian K SmithDirectorSell64,000$50.50$3,232,000.00View SEC Filing  
5/1/2013John B GoodmanDirectorSell2,000$50.60$101,200.00View SEC Filing  
4/30/2013Bradley A ClevelandCEOSell5,000$50.52$252,600.00View SEC Filing  
4/10/2013Donald G KrantzCOOSell42,000$50.56$2,123,520.00View SEC Filing  
1/16/2013William M DietrickVPSell32,000$42.30$1,353,600.00View SEC Filing  
12/3/2012Donald G KrantzCOOSell5,000$36.45$182,250.00View SEC Filing  
11/26/2012Donald G KrantzCOOSell2,490$35.06$87,299.40View SEC Filing  
10/31/2012Bradley A ClevelandCEOSell29,000$34.22$992,380.00View SEC Filing  
10/3/2012Bradley A ClevelandCEOSell9,000$33.56$302,040.00View SEC Filing  
10/2/2012Jacqueline D SchneiderVPSell8,250$34.00$280,500.00View SEC Filing  
10/2/2012Mark R KubicekEVPSell5,000$34.00$170,000.00View SEC Filing  
9/6/2012Mark R KubicekEVPSell50,000$30.78$1,539,000.00View SEC Filing  
9/5/2012Margaret A LoftusDirectorSell45,000$30.71$1,381,950.00View SEC Filing  
9/4/2012Bradley A ClevelandCEOSell4,500$31.01$139,545.00View SEC Filing  
8/23/2012Brian K SmithDirectorSell20,000$32.25$645,000.00View SEC Filing  
(Data available from 1/1/2013 forward)


Headline Trends for Proto Labs (NYSE:PRLB)
Latest Headlines for Proto Labs (NYSE:PRLB)
DateHeadline logo$80.11 Million in Sales Expected for Proto Labs, Inc. (PRLB) This Quarter - July 20 at 1:46 PM logoProto Labs, Inc. (NYSE:PRLB) Expected to Post Earnings of $0.43 Per Share - July 18 at 10:48 AM logoProto Labs Launches On-Demand Manufacturing for Molded Production Parts, Opens Metrology Lab for Digital Inspections - July 18 at 7:32 AM logoProto Labs Sets Conference Call to Discuss Second Quarter 2017 Financial Results - July 7 at 8:17 AM logoETFs with exposure to Proto Labs, Inc. : July 4, 2017 - July 5 at 9:44 AM logoProto Labs, Inc. (NYSE:PRLB) Lowered to "Hold" at Zacks Investment Research - July 2 at 9:22 PM logoProto Labs, Inc. (PRLB) Rating Increased to Neutral at Dougherty & Co - June 27 at 9:14 AM logo Brokerages Expect Proto Labs, Inc. (PRLB) Will Announce Quarterly Sales of $79.97 Million - June 24 at 11:00 AM logoETFs with exposure to Proto Labs, Inc. : June 22, 2017 - June 23 at 9:13 AM logoZacks: Analysts Anticipate Proto Labs, Inc. (PRLB) Will Announce Earnings of $0.43 Per Share - June 22 at 8:40 AM logoAimed at Bringing Open-Source Farming to Consumers, Cool Idea! Award Grant Helps FarmBot Maintain Momentum - June 22 at 7:55 AM logoProto Labs, Inc. :PRLB-US: Earnings Analysis: Q1, 2017 By the Numbers : June 20, 2017 - June 21 at 2:04 AM logoFinancial Survey: Proto Labs (PRLB) and RBC Bearings (ROLL) - June 18 at 12:28 PM logoFinancial Analysis: NN (NNBR) & Proto Labs (PRLB) - June 7 at 10:18 AM logoProto Labs (PRLB) vs. NN (NNBR) Head-To-Head Contrast - June 4 at 7:44 AM logoProto Labs Inc (PRLB) Expected to Announce Quarterly Sales of $79.97 Million - May 28 at 7:48 AM logoZacks: Brokerages Expect Proto Labs Inc (PRLB) to Post $0.43 Earnings Per Share - May 26 at 10:16 PM logoProto Labs Inc (PRLB) Director Sells $53,353.65 in Stock - May 22 at 8:15 PM logoLatest Developments From the 3D Printing Industry - May 19 at 12:08 PM logoProto Labs Inc (PRLB) Given Average Rating of "Hold" by Analysts - May 12 at 11:20 AM logoProto Labs (PRLB) Shares March Higher, Can It Continue? - Nasdaq - May 12 at 8:13 AM logoProto Labs (PRLB) Shares March Higher, Can It Continue? - May 12 at 8:13 AM logoProto Labs Inc (PRLB) Director Sells $734,221.12 in Stock - May 10 at 11:02 PM logoProto Labs Inc (PRLB) Upgraded to B- by TheStreet - May 9 at 3:16 PM logoThe Best 3D Printing Stock to Buy in 2017 - May 9 at 11:00 AM logoWhy Proto Labs Stock Popped 13.5% in April - May 9 at 11:00 AM logoZacks: Brokerages Expect Proto Labs Inc (PRLB) Will Announce Quarterly Sales of $79.96 Million - May 5 at 3:30 PM logoProto Labs Inc (PRLB) Expected to Post Earnings of $0.43 Per Share - May 3 at 11:56 AM logoSomewhat Favorable Media Coverage Likely to Affect Proto Labs (PRLB) Stock Price - May 3 at 1:11 AM logoProto Labs Inc (PRLB) Announces Quarterly Earnings Results - April 29 at 1:27 AM logoProto Labs Inc (PRLB) Issues Q2 Earnings Guidance - April 28 at 10:16 PM logoProto Labs Kicks Off 2017 with Strong Earnings; Stock Soars 8% - April 28 at 8:21 PM logoProto Labs (PRLB) Receives Daily Media Sentiment Score of 0.03 - April 28 at 5:33 PM logoDougherty & Co Increases Proto Labs Inc (PRLB) Price Target to $45.00 - April 28 at 2:54 PM logoEdited Transcript of PRLB earnings conference call or presentation 27-Apr-17 12:30pm GMT - April 28 at 8:17 AM logoProto Labs (PRLB) Q1 2017 Results - Earnings Call Transcript - April 28 at 12:48 AM logoProto Labs (PRLB) Beats Q1 Earnings and Revenues - Nasdaq - April 27 at 7:48 PM logoProto Labs Inc (PRLB) Releases Q2 Earnings Guidance - April 27 at 3:16 PM logoProto Labs Reports Record Revenue for the First Quarter 2017 - April 27 at 10:35 AM logoProto Labs beats 1Q profit forecasts - April 27 at 10:35 AM logoProto Labs (PRLB) Beats Q1 Earnings and Revenues - April 27 at 10:35 AM logoProto Labs (PRLB) Earns Daily Media Sentiment Score of 0.19 - April 25 at 7:49 PM logoProto Labs (PRLB) to Report Q1 Earnings: What's in Store? - April 25 at 6:27 PM logoProto Labs (PRLB) to Report Q1 Earnings: What's in Store? - April 25 at 6:27 PM logoProto Labs, Inc. – Value Analysis (NYSE:PRLB) : April 24, 2017 - April 24 at 7:21 PM logoPositive Media Coverage Likely to Impact Proto Labs (PRLB) Stock Price - April 22 at 12:55 PM logoProto Labs, Inc. breached its 50 day moving average in a Bullish Manner : PRLB-US : April 21, 2017 - April 21 at 7:09 PM logoProto Labs Secures ISO 9001, ISO 14001, and ISO 27001 Certification in Japan - April 20 at 7:27 PM logoProto Labs (PRLB) Receiving Somewhat Positive Press Coverage, Report Shows - April 18 at 9:15 PM logoProto Labs Inc (PRLB) Given Average Recommendation of "Hold" by Analysts - April 17 at 11:33 AM



Proto Labs (PRLB) Chart for Friday, July, 21, 2017

This page was last updated on 7/21/2017 by Staff