IPG Photonics Announces Second Quarter 2020 Financial Results
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IPG Photonics (IPGP) Tops Q2 EPS by 11c, Revenues Beat; Offers 3Q EPS/Revenue Guidance
August 4, 2020 8:03 AM EDTIPG Photonics (NASDAQ: IPGP) reported Q2 EPS of $0.71, $0.11 better than the analyst estimate of $0.60. Revenue for the quarter came in at $296.41 million versus the consensus estimate of $280.49 million.
Management Comments
"Despite the continued challenges to our business from the COVID-19 pandemic, we delivered second quarter results above our guidance range on better-than-expected performance in China and strength in new products," said Dr. Valentin Gapontsev, IPG Photonics' Chief Executive Officer. "Although our visibility is constrained in the current demand environment, we are demonstrating good progress in leading-edge... More
