IPG Photonics Announces First Quarter 2019 Financial Results
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May 1, 2019 8:54 AM EDT
DA Davidson analyst Thomas Diffely raised the price target on IPG Photonics (NASDAQ: IPGP) to $205.00 (from $175.00) while maintaining a Buy rating following 1Q report. IPGP reported 1Q revenues of $315M (-5% Q/Q and -12% Y/Y) and EPS of $1.02, compared to the... More
April 30, 2019 8:09 AM EDT
IPG Photonics (NASDAQ: IPGP) reported Q1 EPS of $1.02, $0.09 worse than the analyst estimate of $1.11. Revenue for the quarter came in at $315 million versus the consensus estimate of $308.18 million.
Management Comments
"We were pleased to deliver first quarter results in line with our guidance given the challenging macroeconomic, geopolitical and competitive backdrop," said Dr. Valentin Gapontsev, IPG Photonics' Chief Executive Officer. "During the quarter business trends improved in China driving sequential growth in orders. More importantly, we have met competitive challenges head on through a combination of substantial reduction of component and... More
