IPG: 3Q Earnings Snapshot

OXFORD, Mass. (AP) _ IPG Photonics Corp. (IPGP) on Tuesday reported third-quarter net income of $100.5 million.

The Oxford, Massachusetts-based company said it had profit of $1.84 per share. Earnings, adjusted for non-recurring costs, were $1.87 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.85 per share.

The high-powered laser maker posted revenue of $356.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $355.2 million.

For the current quarter ending in December, IPG said it expects revenue in the range of $300 million to $330 million. Analysts surveyed by Zacks had expected revenue of $431.1 million.

IPG shares have declined 39 percent since the beginning of the year. The stock has dropped 37 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IPGP at https://www.zacks.com/ap/IPGP