IPG Photonics reports Q4 loss
Photo | Grant Welker
The Oxford headquarters of IPG Photonics
A tough year is in the books for Oxford laser manufacturer IPG Photonics as the company reported a fourth quarter loss.
The 7% decline in revenue, to $306 million, exceeded the company’s guidance range, but still marked the end to a tough year for the company with revenue for the year down 10% year-over-year to $1.3 billion. These figures resulted in a net loss per diluted share of 8 cents in the fourth quarter (a decline of 106%). Even the net proceeds per diluted share for the year at $3.35 represents a decline of 55% year-over-year.
The company’s stock was up slightly in morning trading to $143.77 a share by 11 a.m., however this marks a sharp decline from an April high of $181 per share.
According to the company, sales of high power continuous wave lasers, representing 51% of total revenue, decreased 15% year over year. The company saw large sales declines in other laser sales throughout the world as well.
In the company’s last earnings report it announced a cost-reduction program in response to global competitiveness. In that report, the company announced 300 layoffs.
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