TECH - Fiber Laser Manufacturer IPG Photonics CEO Highlights Welding and 3D Printing as Growth Catalysts Despite Q3 Challenges | Benzinga
IPG Photonics Corp (NASDAQ: IPGP) reported a third-quarter FY23 revenue decline of 14% year-on-year to $301.4 million, missing the consensus of $315.5 million.
The fiber laser manufacturer's adjusted EPS of $1.16 topped the consensus of $1.02.
Materials processing sales accounted for 88% of total revenue and decreased by 15% Y/Y due to lower revenue in cutting, welding, and marking applications in China.
Sales into other applications decreased by 1% Y/Y due to lower revenue in advanced ...