IPG Photonics Corp., a leading manufacturer of fiber lasers and amplifiers, announced recently its preliminary financial results for the fourth quarter that ended on December 31, 2010. The Company rose its expectations for revenues from a previously guided range of $80-$86 million to a new approximation of $100 million. IPG Photonics expects its earnings per diluted share to be in a range of $0.53-$0.56, compared to its previous expected range of $0.30-$0.35. For 2009’s fourth quarter, IPG reported sales of $54.3 million and earnings per share of $0.07.
“We expect to report more than 80% year-over-year growth in revenues and a seven-fold increase in earnings per share for the fourth quarter of 2010,” said Dr. Valentin Gapontsev, IPG Photonics’ Chief Executive Officer. “Our exceptional sales performance this quarter was driven by broad-based demand strength. Geographically, China and Europe were the stand-out performers for the quarter, although we experienced significant year-over-year sales increases across nearly all regions. Materials processing, communications and advanced applications were the strongest end markets and high-power and pulsed lasers both reported triple-digit year-over-year growth. Our expected bottom-line increase was due to the excellent leverage in our business model, resulting in further improvements in gross and operating margins.”
IPG Photonics expects to release its revenue and EPS guidance for the first quarter of 2011 on Friday, February 25,2011.
“We continue to see strong order flow into Q1 and expect the first quarter to show robust quarterly year-over-year revenue and earnings growth, even after taking into account historical seasonal patterns which typically result in lower sequential quarterly revenue in Q1. We enter 2011 with great momentum and expect to continue to capitalize on the demand for our fiber lasers and benefit from the leverage in our business model,” concluded Gapontsev.
Tim Mammen, the Chief Financial Officer, presented at the Stifel Nicolaus Annual Technology, Communications & Internet Conference on Friday 11, 2011 at 8 a.m PT/11 a.m. ET. A webcast of the presentation is available on the company’s website, www.ipgphotonics.com , under the “Investors” section. The presentation will be available for approximately 90 days.
IPG Photonics Corp. is a manufacturer of fiber lasers and amplifiers for use in a range of markets such as materials processing, advanced technologies, telecommunications, and various medical applications. The company offers optical fiber based lasers that combine semiconductor diodes with high amplification and precise beam qualities of specialty optical fibers. The company also provides packaged diodes, direct diode laser systems, and communications systems that use its optical fiber-based products. IPG Photonics was founded in 1990 and is based in Oxford, Massachusetts.
For more information on the company, visit their website at www.ipgphotonics.com
Let us hear your thoughts below: