Overseas Sales Grow IPG Earnings

Fiber laser firm IPG Photonics Corp. reported increased earnings in the third quarter, with revenue increases across all its product lines in Europe and China.

Net income was $55.2 million, up 30 percent from $42.3 million in the third quarter of 2013. The company reported a 16 percent increase in revenue, to $199.7 million.

Sales for materials processing applications grew by 17 percent, primarily due to increased demand for metal cutting, marking and engraving, and additive manufacturing.

High-power laser sales increased by 10 percent, driven by demand for cutting applications. Medium-power laser sales were up 45 percent and low-power sales grew 14 percent. Pulsed laser sales were up 11 percent thanks in part to a new model recently launched in China. Quasi-CW laser sales increased by 122 percent, driven by turbine blade drilling and fine-welding applications.

The company said it expects fourth-quarter revenue in the range of $190 million to $205 million.

For more information, visit www.ipgphotonics.com.