IPGP - IPG Photonics Non-GAAP EPS of $1.08 beats by $0.15 revenue of $333.5M beats by $15.7M
- IPG Photonics press release ( NASDAQ: IPGP ): Q4 Non-GAAP EPS of $1.08 beats by $0.15 .
- Revenue of $333.5M (-8.5% Y/Y) beats by $15.7M .
- Total backlog was $811 million, which was a record level for IPG, and consisted of $501 million of orders with firm shipment dates and $310 million of frame agreements. Total backlog increased by 11%, driven by a 28% increase in frame agreements and 3% increase in orders with firm shipment dates. Fourth quarter book-to-bill was slightly below 1.
- For the first quarter of 2023, IPG expects revenue of $310 million to $340 million. The Company expects the first quarter tax rate to be approximately 26%. IPG anticipates delivering earnings per diluted share in the range of $0.90 to $1.20. The first quarter guidance range is reduced by approximately $9 million due to foreign currency headwinds that are related to the current strength of the U.S. dollar as compared to the first quarter of 2022.
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IPG Photonics Non-GAAP EPS of $1.08 beats by $0.15, revenue of $333.5M beats by $15.7M