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IPG: 2Q Earnings Snapshot

July 31, 2018

OXFORD, Mass. (AP) _ IPG Photonics Corp. (IPGP) on Tuesday reported second-quarter net income of $121.6 million.

The Oxford, Massachusetts-based company said it had net income of $2.21 per share. Earnings, adjusted for non-recurring costs, were $2.24 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.22 per share.

The high-powered laser maker posted revenue of $413.6 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $417.7 million.

For the current quarter ending in October, IPG said it expects revenue in the range of $360 million to $390 million. Analysts surveyed by Zacks had expected revenue of $431.1 million.

IPG shares have increased roughly 5 percent since the beginning of the year. The stock has increased 46 percent 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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