OXFORD, Mass. (AP) — OXFORD, Mass. (AP) — IPG Photonics Corp. (IPGP) on Tuesday reported first-quarter profit of $60.1 million.
On a per-share basis, the Oxford, Massachusetts-based company said it had net income of $1.26.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The high-powered laser maker posted revenue of $347.2 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $326.5 million.
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