We have a very nicely leveraged business model. We sell our product to OEMs and end users who when they qualify our lasers for using their systems results in multiple units being sold on a going forward basis. The company really is truly global with over 2000 employees and major manufacturing facilities around the world. We really are very proud of the fact that we are the leader and most profitable company not only in the fiber laser market, but the most profitable company in the entire laser sector altogether.The laser market is significant. We currently are really focused on selling products into the laser source, so the laser source is the engine that drives the laser systems. That market is about $3.8 billion and I've got a slide to breakdown for you provides more information to that. The laser market is growing at about 7% to 9% per year. The estimates are it will grow at about two times GDP and that’s really a reflection of the fact that lasers are becoming more and more widely deployed in different application, in particular the ease-of-use and cost of the devices comes down and fiber is driving most of the changes.
IPG Photonics' Management Presents At Barclays Capital Global Technology, Media And Telecommunications Conference (Transcript)
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