IPG Photonics Q1 Profit Up 15%, Matches View - Quick Facts

(RTTNews) - IPG Photonics Corp.'s (IPGP) first-quarter 2014 net income attributable to the company advanced by 15% to $40.5 million, or $0.77 a share, from $35.1 million, or $0.67 a share, reported a year before. On average, 11 analysts polled by Thomson Reuters expected earnings per share of $0.77 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenue came in at $170.6 million, an increase of 20%, compared with $141.9 million in the prior-year quarter, driven by the demand for IPG's high-power fiber lasers. Nine analysts estimated revenues of $168.07 million for the quarter.

Looking ahead to the second quarter of 2014, the company expects revenue in the range of $173 million - $188 million, and sees earnings per share in the range of $0.77 - $0.92 based on 52,724,000 diluted common shares, including 51.97 million basic common shares outstanding and 754,000 potentially dilutive options at March 31, 2014. Analysts project second-quarter earnings of $0.90 per share, and revenues of $188.15 million.