IPG Photonics Corporation Announces Retreat In Q3 Income, but beats estimates

(RTTNews) - IPG Photonics Corporation (IPGP) reported a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $54.99 million, or $1.16 per share. This compares with $76.26 million, or $1.47 per share, in last year's third quarter.

Analysts on average had expected the company to earn $1.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.6% to $301.40 million from $349.01 million last year.

IPG Photonics Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $54.99 Mln. vs. $76.26 Mln. last year. -EPS (Q3): $1.16 vs. $1.47 last year. -Analyst Estimates: $1.02 -Revenue (Q3): $301.40 Mln vs. $349.01 Mln last year.

-Guidance: Next quarter EPS guidance: $0.80 to $1.10 Next quarter revenue guidance: $270 - $300 Mln