MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — IPG Photonics Corp. (IPGP) on Thursday reported fourth-quarter profit of $13.3 million.
The Marlborough, Massachusetts-based company said it had profit of 31 cents per share. Earnings, adjusted for one-time gains and costs, came to 46 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The high-powered laser maker posted revenue of $274.5 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $246.4 million.
For the year, the company reported profit of $31.1 million, or 73 cents per share. Revenue was reported as $1 billion.
For the current quarter ending in March, IPG said it expects revenue in the range of $235 million to $265 million.
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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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