March 6, 2007
Income grows for IPG
By Matthew L. Brown
Fourth-quarter net income for Oxford-based IPG Photonics Corp. climbed to $16.6 million on revenue of $42.1 million from a net of $3.9 million on $34.1 million in revenue just one year ago.
The 23 percent increase in quarterly revenue was driven by of sales of fiber lasers for materials processing.
Due to several one-time costs, the company swung from earnings of 11 cents per share to a loss of 11 cents per share.
Excluding those one-time items, adjusted net income totaled $6.6 million, or 17 cents per share, according to the company.
IPG went public in December, and expects to report first-quarter earnings of between 10 and 14 center per share on revenue between $38 million and $40 million.
The 23 percent increase in quarterly revenue was driven by of sales of fiber lasers for materials processing.
Due to several one-time costs, the company swung from earnings of 11 cents per share to a loss of 11 cents per share.
Excluding those one-time items, adjusted net income totaled $6.6 million, or 17 cents per share, according to the company.
IPG went public in December, and expects to report first-quarter earnings of between 10 and 14 center per share on revenue between $38 million and $40 million.
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