IPG Photonics Announces Third Quarter 2018 Financial Results
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IPG Photonics (IPGP) Misses Q3 EPS by 1c, Revenues Beat; Offers Q4 EPS/Revenue Outlook Below Consensus
October 30, 2018 8:07 AM EDTIPG Photonics (NASDAQ: IPGP) reported Q3 EPS of $1.84, $0.01 worse than the analyst estimate of $1.85. Revenue for the quarter came in at $356.3 million versus the consensus estimate of $355.48 million.
"Our third quarter results were affected by macroeconomic headwinds and geopolitical factors that reduced demand in China and Europe; nevertheless, IPG made significant strides driving higher power solutions into the market and generating meaningful traction selling our newest products," said Dr. Valentin Gapontsev, IPG Photonics' Chief Executive Officer. "Despite the challenging environment, we shipped a record number of ultra high power lasers and successfully introduced... More
