IPG Photonics Corporation (IPGP) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $3.76 million, or $0.09 per share. This compares with $24.10 million, or $0.52 per share, last year.
Excluding items, IPG Photonics Corporation reported adjusted earnings of $13.13 million or $0.31 per share for the period.
Analysts on average had expected the company to earn $0.20 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 9.6% to $227.79 million from $252.01 million last year.
IPG Photonics Corporation earnings at a glance (GAAP) :
-Earnings: $3.76 Mln. vs. $24.10 Mln. last year.-EPS: $0.09 vs. $0.52 last year.-Revenue: $227.79 Mln vs. $252.01 Mln last year.
-Guidance:Next quarter EPS guidance: -$0.05 to $0.25Next quarter revenue guidance: $210 - $240 Mln
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