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IPG Photonics Guides Q2 In Line With View; Q1 Results Top Estimates
(RTTNews) - While reporting financial results for the first quarter on Tuesday, IPG Photonics Corp. (IPGP) provided earnings and revenue guidance for the second quarter, in line with estimates.
For the second quarter, the company expects earnings in a range of $1.05 to $1.35 per share on revenues between $325 million and $355 million.
On average, five analysts polled by Thomson Reuters expect the company to report earnings of $1.18 per share on revenues of $355.15 million for the quarter. Analysts' estimates typically exclude special items.
For the first quarter, the company reported net income attributable to the company of $60.14 million or $1.26 per share, up from $69.57 million or $1.31 per share in the prior-year quarter. Net sales for the quarter declined 6 percent to $347.17 million from $369.98 million in the same quarter last year.
The Street expected the company to report earnings of $1.14 per share on revenues of $330.60 million for the quarter.
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