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IPG: 1Q Earnings Snapshot

OXFORD, Mass. (AP) _ IPG Photonics Corp. (IPGP) on Tuesday reported first-quarter net income of $55.2 million.

The Oxford, Massachusetts-based company said it had profit of $1.02 per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.

The high-powered laser maker posted revenue of $315 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $304.5 million.

For the current quarter ending in July, IPG said it expects revenue in the range of $340 million to $370 million. Analysts surveyed by Zacks had expected revenue of $331.2 million.

IPG shares have climbed 53% since the beginning of the year. The stock has declined 18% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IPGP at https://www.zacks.com/ap/IPGP