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MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — IPG Photonics Corp. (IPGP) on Tuesday reported first-quarter earnings of $3.8 million.
The Marlborough, Massachusetts-based company said it had net income of 9 cents per share. Earnings, adjusted for one-time gains and costs, were 31 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The high-powered laser maker posted revenue of $227.8 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $221.2 million.
For the current quarter ending in June, IPG expects its results to range from a loss of 5 cents per share to earnings of 25 cents per share.
The company said it expects revenue in the range of $210 million to $240 million for the fiscal second quarter.
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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