IPG Photonics (NASDAQ: IPGP) reported Q1 EPS of $1.93, $0.14 better than the analyst estimate of $1.79. Revenue for the quarter came in at $359.9 million versus the consensus estimate of $345.92 million.

Business Outlook and Financial Guidance

"During the first quarter of 2018 we achieved the highest level of quarterly bookings in the Company's history. As a result, our first quarter book-to-bill ratio was above 1, positioning us to deliver strong results in the second quarter as well," said Dr. Gapontsev.

For the second quarter of 2018, IPG expects revenue of $400 million to $430 million, representing growth of 8% to 15% year over year. The Company expects the second quarter tax rate to be approximately 26% excluding effects relating to equity grants, and anticipates delivering earnings per diluted share in the range of $2.05 to $2.35, representing growth in the range of 7% to 23% year over year, with 53.7 million basic common shares outstanding and 55.2 million diluted common shares outstanding. At this time, IPG is not updating its 2018 annual guidance.

GUIDANCE:

IPG Photonics sees Q2 2018 EPS of $2.05-$2.35, versus the consensus of $2.16. IPG Photonics sees Q2 2018 revenue of $400-430 million, versus the consensus of $407.53 million.

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