IPG Photonics Corp. Shares Soar on Preliminary Q4 Results (IPGP)
IPG Photonics Corp. (NASDAQ: IPGP) announced that it expects its Q4 results to beat consensus estimates. The news sent the company stock soaring. The company shares are currently trading at $46.99, up 35.22 percent from its previous close. The company said it expects fourth quarter profit to be in the range of 53 cents and 56 cents per share. IPG Photonics is also looking to announce its revenue at $100 million. Earlier, the company had projected its earnings per share in the range of 30 cents and 35 cents. The projection for revenue stood in the range of $80 million and $86 million.
The analysts have set the projection for profit per share at 36 cents. The estimates for revenue have been pegged at $85 million. Dr. Valentin Gaponstev, chief executive officer of the company, said, “Our exceptional sales performance this quarter was driven by broad-based demand strength.” The company is scheduled to announce its results for the fiscal fourth quarter on Feb. 25. The company is expected to provide projections for the first fiscal quarter at the same time.
IPG Photonics is involved in the business of manufacturing fiber lasers and amplifiers. These products are used for various purposes such as medical and advanced technological methods. The company also provides diode lasers and commercial fiber. IPG Photonics was formed in 1990 and is based out of Massachusetts.
IPG Photonics stock opened at $41.00 and touched the high of $47.50, which is also its 52 weeks high. The stock’s lowest price in today’s session is $40.30. The company stock’s beta is 1.23. The company stock has traded in the range of $13.93 and $47.50 during the past 52 weeks. The company’s market cap is $2.19 billion and its P/E ratio is 74.03.
IPG Photonics reported its total current assets at $180.914 million for the year ending Dec 31, 2009. Its total assets were worth $312.636 million for the same time period. IPG Photonics had valued its total liabilities at $56.206 million. The company had reported its revenue at $185.894 million and its gross profit for the year at $64.268 million. IPG Photonics’ net income for the year stood at $5.419 million.
