November 6, 2007
IPG posts 80 percent income gain
By Matthew L. Brown
Oxford-based laser-maker IPG Photonics Corp. said strong sales of its high-powered lasers for materials processing drove the company's 80 percent increase in net income and 32 percent revenue growth in the third quarter.
The company reported net income of $8.6 million for the quarter on revenue of $47.9 million. For the same period last year, the company reported net income of $4.7 million on revenue of $36.2 million.
A 36 percent increase in sales of fiber lasers used in materials processing was largely responsible for the earnings increase, the company said.
The strong quarter contributed to a 71.1 percent increase in net income for the first nine months of the year, and an earnings-per-share increase of 51.6 percent for the same period.
The company said it expects fourth quarter revenue between $51 million and $54 million.
The company reported net income of $8.6 million for the quarter on revenue of $47.9 million. For the same period last year, the company reported net income of $4.7 million on revenue of $36.2 million.
A 36 percent increase in sales of fiber lasers used in materials processing was largely responsible for the earnings increase, the company said.
The strong quarter contributed to a 71.1 percent increase in net income for the first nine months of the year, and an earnings-per-share increase of 51.6 percent for the same period.
The company said it expects fourth quarter revenue between $51 million and $54 million.
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