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.
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
Keywords: IPG Photonics, Earnings Report