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.
The article IPG Photonics Posts Record Revenue in Q3 originally appeared on Fool.com.
Fool contributor Eric Volkman has no position in IPG Photonics. The Motley Fool recommends and owns shares of IPG Photonics. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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