IPG revenue, profits continue upward march
IPG Photonics of Oxford turned in another stellar quarter as strong sales growth in Europe and China helped push revenue up 16 percent and net income 30 percent for the manufacturer of fiber lasers.
IPG reported revenue of $199.7 million in the quarter that ended Sept. 30. That’s up from $172.2 million in the same quarter last year. Net income, meanwhile, soared to $55.2 million ($1.05 a share), up from $42.3 million (81 cents a share).
For the first nine months of the year, revenue rose 17 percent to $562.4 million while profits are up 21 percent, to $144 million.
The company said sales in Europe and China each increased more than 20 percent. The company also cited strong sales growth in Turkey and the rest of Asia. The gains there were partially offset by lower sales in the United States and Japan.
IPG said it expects fourth-quarter revenue to fall between $190 million and $205 million, with earnings per share of between 86 cents and $1.01. In the fourth quarter of 2013, IPG reported revenue of $165.9 million and earnings per share of 70 cents.
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