IPG: Q3 Earnings Snapshot

Associated Press Finance
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MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — IPG Photonics Corp. (IPGP) on Tuesday reported third-quarter profit of $55 million.

The Marlborough, Massachusetts-based company said it had net income of $1.16 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The high-powered laser maker posted revenue of $301.4 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $312.9 million.

For the current quarter ending in December, IPG said it expects revenue in the range of $270 million to $300 million. Analysts surveyed by Zacks had expected revenue of $357.3 million.

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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

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