IPG Photonics Posts Adj. Profit In Q4; Revenue Down 8%

(RTTNews) - IPG Photonics Corp. (IPGP) reported adjusted EPS of $1.08 for the three months ended December 31, 2022. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.89, for the quarter. Analysts' estimates typically exclude special items.

Net loss to company was $92.90 million or $1.91 per share compared to profit of $65.09 million or $1.21 per share, last year.

Fourth quarter revenue was $334 million, decreased 8% year over year. Analysts on average had estimated $316.08 million in revenue.

"In light of the impact of sanctions on our Russian operations, we initiated a review and incurred various charges that significantly impacted reported operating results in the fourth quarter," said Eugene Scherbakov, CEO.

For the first quarter, IPG expects revenue of $310 million to $340 million. The company expects earnings per share in the range of $0.90 to $1.20.

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