February 25, 2011
Big Growth For Laser Co.
IPG Photonics Corp. of Oxford saw its revenue rise 86 percent in the fourth quarter of 2010, as fiber lasers became a more popular option for processing materials.
The company had revenues of $101 million in the most recent quarter, compared with $54.3 million in Q4 2009. Its profits jumped to $27.1 million from $3.1 million.
For the full year, revenues rose 61 percent to $299.3 million.
The company said its strongest growth for the quarter came in materials processing, which is also its largest market.
Geographically, the largest growth in sales came from the Chinese market, with a 256-percent increase. The company announced the opening of an office in China last month.
WBJ Web Partners
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