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IPG Sales Increase 95% in Q1

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OXFORD, Mass., May 3, 2011 — IPG Photonics, a producer of fiber lasers and amplifiers, announced a 95 percent increase in sales in the first quarter of 2011, as compared to a year ago. The increase puts IPG’s sales at $100 million with a net income of $23.1 million. First-quarter sales in 2010 were at $51.2 million with a net income of $3.4 million. According to the company, the high-power and pulsed laser sales for materials processing applications were the primary drivers of the growth. “We reported year-over-year sales increases in all geographies and product lines. We also achieved gross...Read full article

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