IPG Photonics Corporation Q2 Profit Retreats, misses estimates

(RTTNews) - 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.

-Guidance: Next quarter EPS guidance: $1.00 to $1.30