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IPG Photonics Corp. generated $318.4 million in total revenue for the quarter ending Sept. 30, the company reported, surpassing its guidance range and the Zacks consensus estimate (ZCE). Earnings per diluted share (EPS) were reported at 66 cents, off the ZCE by 23 cents. Non-GAAP EPS of $1.29 beat the ZCE by 37 cents.
IPG had expected revenue in the range of $280 million to $310 million, with EPS ranging from 70 cents to $1.05
“We delivered third-quarter results above our guidance range due to sales growth in China and a sequential improvement in Europe,” said Valentin Gapontsev, CEO of IPG Photonics. “We continue to introduce leading-edge solutions to the market thanks to our technology differentiation,…READ MORE