IPG Photonics Corp. (IPGP) announced Monday morning that it now expects to report fourth quarter revenues of approximately $207 million compared with the previously guided range of $190 million to $205 million. Earnings per diluted share are expected to be between $1.06 and $1.07, compared with previous guidance of between $0.86 and $1.01 per diluted share.
IPG Photonics gapped open higher Monday, but was range-bound throughout the session. The stock closed up by 3.34 at $85.24 on above average volume. IPG Photonics has been rising for the past 3 weeks and set its second consecutive new high for the year.
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