IPG Photonics Corporation (IPGP - Free Report) develops and manufactures fiber & diode lasers, fiber amplifiers and transceivers that are used for diverse applications, like materials processing, advanced applications, communications and medical.
The company is benefiting from strong adoption of fiber lasers over conventional lasers as well as non-laser cutting and welding equipment.
Recent estimates for IPG Photonics have been moving down off late. Notably, the company beat the Zacks Consensus Estimates in each of the trailing four-quarters.
Currently, IPG Photonics has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
However, the Zacks Rank could definitely change following the company’s second-quarter fiscal 2018 report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: IPG Photonics reported earnings of $2.21 per share, which missed the Zacks Consensus Estimate of $2.22.
Revenues: IPG Photonics posted revenues of $413.6 million, which also missed the Zacks Consensus Estimate of $418 million.
Key Stats: Robust adoption of IPG's high power products drove the 12% year-over-year revenue growth. IPG Photonics reported gross margin of 56.8% in the quarter.
Stock Price: No share price movement was witnessed in the pre-market session.
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