IPG Photonics Posts Record Revenue in Q3
In spite of the all-time high quarterly revenue booked by IPG Photonics in its Q3, its share price dipped in the wake of its earnings release. For the quarter, revenue was $172 million, a 10% climb from the $156 million in the same period the previous year. Attributable net was $42.3 million ($0.81 per diluted share), essentially flat when compared to Q3 2012's $42.4 million ($0.81).
Those numbers weren't good enough to beat the average analyst projections of $172 million in revenue and EPS of $0.84.
IPG Photonics provided forward guidance for its current Q4. Revenue for the period is expected to come in at $155 million to $170 million, and diluted EPS to be $0.68 to $0.82. Its stock slumped by 9.3%, or $6.17, to close at $60.10 in trading today.
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