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IPG: Q1 Earnings Snapshot

May 4, 2021 GMT

OXFORD, Mass. (AP) _ IPG Photonics Corp. (IPGP) on Tuesday reported first-quarter net income of $68.1 million.

On a per-share basis, the Oxford, Massachusetts-based company said it had profit of $1.26. Earnings, adjusted for non-recurring gains, were $1.17 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.

The high-powered laser maker posted revenue of $345.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $326.4 million.

For the current quarter ending in July, IPG said it expects revenue in the range of $360 million to $390 million. Analysts surveyed by Zacks had expected revenue of $365.5 million.

IPG shares have decreased 5.5% since the beginning of the year. The stock has increased 77% in the last 12 months.

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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