IPG Photonics Q2 Net Income Rises; Revenue Down 10%

(RTTNews) - IPG Photonics Corp. (IPGP) reported second quarter net income attributable to IPG of $62.3 million compared to $57.0 million, prior year. Earnings per share was $1.31 compared to $1.10. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $1.24, for the quarter. Analysts' estimates typically exclude special items.

Second quarter revenue was $340 million, down 10% year over year. Analysts on average had estimated $345.51 million in revenue.

For the third quarter, IPG expects revenue of $300 million to $330 million. The company expects earnings per share in the range of $0.85 to $1.15.

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