IPG Photonics Q3 Results Top Estimates; Guides Q4 Revenues Below Estimates - Quick Facts

(RTTNews) - IPG Photonics Corp. (IPGP) reported Tuesday that net income attributable to IPG for the third quarter more than doubled to $75.4 million or $1.40 per share from $35.6 million or $0.66 per share in the prior-year quarter.

Revenues for the quarter increased 19 percent to $379.2 million from $318.4 million in the same quarter last year, driven by improved demand in Europe and the U.S. as well as growth in emerging products and applications.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.27 per share on revenues of $368.26 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the fourth quarter, the company expects earnings in a range of $1.00 to $1.30 per share on revenues between $330 million and $360 million. The Street is looking for earnings of $1.30 per share on revenues of $366.47 million for the quarter.