IPG Photonics Shares Popped: What You Need to Know
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What:IPG Photonics (NAS: IPGP) popped 13% in intraday trading today after the company issued better-than-expected earnings and guidance.
So what: Second-quarter GAAP EPS of $0.63 was up from $0.22 in the year-earlier quarter and handily beat the $0.55 consensus estimate. Revenue of $122 million was up 81% from $67 million in the year-earlier quarter and well ahead of the $108 million consensus forecast.
Now what: For the current quarter, management guided to revenue of $120 million to $130 million and EPS of $0.56 to $0.68. That compares favorably with consensus expectations of $115 million and $0.58, respectively. The earnings release bullishly stated, "The acceptance of fiber lasers has reached a tipping point in several of our end markets. ... Our goals now are to ensure that we have the ability to keep pace with demand, continue our technological superiority, reduce costs through research and develop new application labs for fiber lasers."
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