Record 2Q revenue for IPG Photonics
IPG Photonics reported a second-quarter revenue leap of 22 percent, as well as a 25 percent rise in earnings per share, thanks in part to increased sales of its high-power fiber lasers, the Oxford-based manufacturer announced Tuesday.
The company attributed its record revenue of $235.1 million to expanded demand for its fiber lasers in materials processing applications. Revenue for the second quarter of 2014 was $192.2 million.
Earnings per diluted share were $1.15 for the second quarter, which ended June 30. That was up from 92 cents.
CEO Valentin Gapontsev said in Tuesday’s statement that IPG achieved the results "through our increasing scale, continued innovation and operating efficiencies.” The statement said sales of high-power fiber lasers grew strongly, increasing 27 percent, and that the company also had healthy growth in medium-power, low-power and QCW (quasi-continuous-wave) lasers .
For the third quarter, IPG Photonics expects revenue in the range of $235 million to $250 million, with earnings per diluted share in the range of $1.15 to $1.30.
The company's stock opened at $90.08 per share Tuesday, reached $92.52, and was trading at $91.34 at 11:40 a.m., according to Yahoo Finance.
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