IPG Photonics Corporation Q2 Profit Retreats, misses estimates

IPG Photonics Corporation (IPGP) released earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $56.97 million, or $1.10 per share. This compares with $69.80 million, or $1.29 per share, in last year's second quarter.

Analysts on average had expected the company to earn $1.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.4% to $377.02 million from $371.66 million last year.

IPG Photonics Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $56.97 Mln. vs. $69.80 Mln. last year.
-EPS (Q2): $1.10 vs. $1.29 last year.
-Analyst Estimates: $1.14
-Revenue (Q2): $377.02 Mln vs. $371.66 Mln last year.

Next quarter EPS guidance: $1.00 to $1.30

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