IPG Photonics Corporation (NASDAQ:IPGP) shares moved lower on Tuesday despite the company reporting better-than-expected quarterly results.
The laser technology provider faced pressure due to margin contraction, and a softer near-term outlook weighed on investor sentiment.
Quarterly Details
The company reported first-quarter adjusted earnings per share of 29 cents, beating the analyst consensus estimate of 27 cents. Quarterly sales of $265.497 million (+17% year over year) outpaced the Street view of $256.935 million.
Industrial Solutions jumped 21% to $227.590 million, while advanced solutions fell 5% to $37.907 million.
Emerging growth products accounted for 53% of total revenue, consistent with the prior quarter. By region, sales increased 14% …
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