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IPG Reports Record Revenue, Sells Stake in Russian Unit

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OXFORD, Mass., Nov. 1, 2010 — Fiber laser maker IPG Photonics Corp. reported Monday that revenue surged for the third quarter of 2010 to nearly $80 million, up 74 percent year-over-year and 19 percent from the second quarter, driven by strong demand for pulsed and high-power lasers. The company also announced it will sell a 12.5 percent stake in its Russia-based subsidiary, NTO IRE-Polus, to the Russian Corporation of Nanotechnologies (Rusnano). Earnings for the third quarter of 2010 were 28 cents a share, up from 5 cents a year ago and 22 cents last quarter. Total revenue for the quarter was $79.8 million, up 74...Read full article

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    Published: November 2010
    AmericasBusinessCommunicationsenergyengravingEuropefiber lasersfiber opticshigh-powerincomeindustrialIPG PhotonicsmarkingmedicalNTONTO IRE-Poluspartnershipspulsedpulsed lasersquarterrevenueRusnanoRussiaRussian Corporation of NanotechnologiesstakeSubsidiarytelecomtelecommunicationstransactionValentin GapontsevLasers

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