IPGP - IPG Photonics' 15% post-earnings gain leads S&P 500 advancers

IPG Photonics (NASDAQ:IPGP) is the S&P 500's top gainer Tuesday morning, up 15.1% to a six-week high after its first-quarter earnings beat expectations with growth across multiple applications. Revenues grew 7% to $370 million; materials processing makes up 92% of that total and grew 7% as a subset. Sales in Other Applications rose 9% amid some strength in medical, partly offset by lower sales in advanced applications and telecom. Emerging growth products sales made up 36% of total revenue. In its main materials processing business, higher sales in welding, marking, systems, cleaning and 3D printing were partly offset by lower revenue in cutting and solar cell manufacturing. "We are pleased to report another solid quarter with growth driven by higher demand across many diverse applications in Europe, North America and Japan," says CEO Dr. Eugene Scherbakov. "Increased laser welding adoption, primarily in electric vehicle manufacturing, drove record welding revenue for

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IPG Photonics' 15% post-earnings gain leads S&P 500 advancers