MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — IPG Photonics Corp. (IPGP) on Tuesday reported second-quarter earnings of $6.6 million.
On a per-share basis, the Marlborough, Massachusetts-based company said it had profit of 16 cents. Earnings, adjusted for one-time gains and costs, were 30 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The high-powered laser maker posted revenue of $250.7 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $224.1 million.
For the current quarter ending in September, IPG expects its per-share earnings to range from 5 cents to 35 cents.
The company said it expects revenue in the range of $225 million to $255 million for the fiscal third quarter.
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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
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