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IPG Sales Up 27%

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OXFORD, Mass., May 08, 2008 -- Fiber laser maker IPG Photonics Corp. reported this week that its revenues for the first quarter of 2008 increased by 27 percent, to $52.9 million, and net income increased by 23 percent to $8.1 million from the first quarter of 2007. Revenue growth for the quarter was driven by sales of fiber lasers used for materials processing applications, which increased by 34 percent over the first quarter of 2007 to $44.2 million, and "strong sales to European and Asian markets," the company said in a statement. "The growing acceptance of fiber lasers across a variety of applications, combined...Read full article

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    Published: May 2008
    Glossary
    photonics
    The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
    BiophotonicsCommunicationsenergyeuropean marketsfiber lasersfiber opticsindustrialindustrial lasersIPGIPG Photonicsmaterials processingNews & FeaturesphotonicsValentin Gapontsev

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