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IPG: 2Q Earnings Snapshot

July 30, 2019

OXFORD, Mass. (AP) _ IPG Photonics Corp. (IPGP) on Tuesday reported second-quarter net income of $72.3 million.

On a per-share basis, the Oxford, Massachusetts-based company said it had net income of $1.34. Earnings, adjusted for non-recurring costs, came to $1.42 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.

The high-powered laser maker posted revenue of $363.8 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $356.6 million.

For the current quarter ending in October, IPG said it expects revenue in the range of $325 million to $355 million. Analysts surveyed by Zacks had expected revenue of $365.1 million.

IPG shares have risen 23% since the beginning of the year. The stock has dropped 41% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IPGP at https://www.zacks.com/ap/IPGP

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