IPG tops Street 4Q forecasts

OXFORD, Mass. (AP) _ IPG Photonics Corp. (IPGP) on Tuesday reported fourth-quarter profit of $75.1 million.

The Oxford, Massachusetts-based company said it had profit of $1.39 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.

The high-powered laser maker posted revenue of $280.1 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $266.8 million.

For the year, the company reported profit of $260.8 million, or $4.85 per share. Revenue was reported as $1.01 billion.

For the current quarter ending in April, IPG said it expects revenue in the range of $245 million to $260 million. Analysts surveyed by Zacks had expected revenue of $240 million.

IPG shares have risen 18 percent since the beginning of the year. The stock has increased 42 percent in the last 12 months.

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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

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Keywords: IPG Photonics, Earnings Report