IPG Photonics Q3 Earnings Misses Street View - Quick Facts

(RTTNews) - IPG Photonics Corp. (IPGP) Thursday reported flat earnings for the third-quarter, as increase in sales was offset by higher expenses. Earnings per share missed the Street estimates.

Net income attributable to IPG Photonics Corporation was $42.3 million, almost flat with last year. On a per share basis, earnings stood at $0.81 per share for both the periods.

On average, eleven analysts polled by Thomson Reuters expected the company to report earnings per share of $0.84 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales, however, rose to $172.1 million from prior year's $156.3 million. Analysts expected the company to report revenues of $172.94 million. Total operating expenses were $33.04 million, compared with $25.9 million a year ago.

For the fourth quarter, the company expects earnings per share in the range of $0.68 - $0.82, on revenues of $155 million - $170 million. Analysts expect the company to report earnings of $0.80 and revenues of $163.59 million.