IPG Photonics Corp. (IPGP) reported fourth quarter net income of $0.67 per share Friday morning, compared to $0.64 per share last year. The consensus estimate was for EPS of $0.72. First quarter EPS is expected to be between $0.65 and $0.75, compared to the consensus estimate of $0.72.
IPG Photonics gapped open sharply lower Friday and is now down 7.65 at $61.83 on above average volume. The stock has dropped to a 2-month low and has fallen below its 50-day moving average.
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