WASHINGTON (dpa-AFX) - IPG Photonics Corporation (IPGP) released earnings for its first quarter that increased from last year.
The company's earnings came in at $91.7 million, or $0.23 per share. This compares with $4.7 million, or $0.01 per share, in last year's first quarter.
Excluding items, IPG Photonics Corporation reported adjusted earnings of $177.4 million or $0.45 per share for the period.
Analysts had expected the company to earn $0.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 4.2% to $2.26 billion from $2.36 billion last year.
IPG Photonics Corporation earnings at a glance:
-Earnings (Q1): $177.4 Mln. vs. $44.2 Mln. last year. -EPS (Q1): $0.45 vs. $0.11 last year. -Analysts Estimate: $0.15 -Revenue (Q1): $2.26 Bln vs. $2.36 Bln last year.
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