MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — IPG Photonics Corp. (IPGP) on Tuesday reported second-quarter profit of $5.2 million.
On a per-share basis, the Marlborough, Massachusetts-based company said it had net income of 12 cents. Earnings, adjusted for one-time gains and costs, came to 58 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The high-powered laser maker posted revenue of $278.6 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $279.2 million.
For the current quarter ending in September, IPG expects its per-share earnings to range from 30 cents to 60 cents.
The company said it expects revenue in the range of $265 million to $295 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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