Fiber Lasers for Materials Processing Drive Earnings at IPG
OXFORD, Mass., July 30, 2014 — IPG Photonics Corp reported earnings of $48.3 million in the second quarter of 2014, saying high-power fiber laser sales increased by 22 percent and other products performed well.
The earnings represent a 15.8 percent increase over the second quarter of 2013, when net income was $41.7 million.
“Materials processing sales increased 18 percent year over year, driven by strength in cutting and welding applications as well as growth in 3-D printing, glass cutting and cleaning applications,” said CEO Dr. Valentin Gapontsev.
Gapontsev said sales of medium-power lasers increased by 35 percent and quasi-CW sales were up 44 percent compared to the second quarter of 2013.
Competition from China drove down pulsed laser sales by 19 percent year over year, the company said, but revenues in the segment grew 12 percent from the first quarter of 2014.
“We are also seeing fast-growing demand for our new generation of picosecond high peak power fiber lasers and multi-hundred-watt average power pulsed lasers and where we have technological advantages for new applications such as deep engraving, ablation and cleaning,” Gapontsev said.
The company said it expects revenue in the range of $190 million to $205 million for the third quarter of 2014.
For more information, visit www.ipgphotonics.com