May 3, 2011
IPG Sales Double
By Brandon Butler
Sales for Oxford laser maker IPG Photonics almost doubled to $100 million while profits increased six-fold to $23.1 million in the first quarter of the year.
IPG said after the global market slowdown of the past few years, demand is back for the company's suite of products, which include high-power fiber and pulse lasers. They are used in the materials processing, telecommunications and medical industries.
In the first quarter of 2010 the company made a $3.4 million profit on $51.1 million in revenues.
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