May 3, 2010
Laser Maker Eyes Recovery, Profit Up 167%
By Matthew L. Brown
Oxford-based IPG Photonics Corp. said it made a $3.4 million profit in the first quarter on revenue of $51.2 million.
During the same period a year ago, the industrial laser manufacturer made a $1.3 million profit on $45.4 million.
The company said it sees signs that economic recovery "is underway across most geographic regions." Sales into the materials processing and medical applications sectors were up 23 percent and 36 percent, respectively.
Operating income for the quarter was $5.3 million compared to $2 million a year ago.
For the second quarter, the company expects revenue between $57 million and $62 million.
WBJ Web Partners
Most Recent
Most Recent
0 Comments