IPG Photonics Announces Third Quarter 2019 Financial Results
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IPG Photonics (IPGP) Misses Q3 EPS by 14c, Revenues Miss; Offers Q4 EPS/Revenue Guidance Below Consensus
October 29, 2019 8:05 AM EDTIPG Photonics (NASDAQ: IPGP) reported Q3 EPS of $1.07, $0.14 worse than the analyst estimate of $1.21. Revenue for the quarter came in at $329.1 million versus the consensus estimate of $336.93 million.
Management Comments
"Despite the challenging macroeconomic backdrop and competitive landscape in China, we demonstrated good progress selling ultra high power lasers, new products, accessories and complete laser systems." said Dr. Valentin Gapontsev, IPG Photonics' Chief Executive Officer. "Effective operational execution by our dedicated global team resulted in strong operating and free cash flow during the quarter."
Dr. Gapontsev added, "In response to the current business... More
