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IPG Photonics Delivers Record Revenue And Net Income In Second Quarter 2012

IPG Photonics Corporation (NASDAQ: IPGP) today reported financial results for the second quarter ended June 30, 2012.

  Three Months Ended     Six Months Ended  
June 30, June 30,
(In millions, except per share data)   2012       2011   % Change   2012       2011   % Change
Revenue $ 137.9 $ 121.9 13% $ 261.1 $ 221.9 18%
Gross margin 54.3 % 54.7 % 55.0 % 54.2 %
Operating income $ 56.4 $ 46.1 22% $ 101.6 $ 80.2 27%
Operating margin 40.9 % 37.8 % 38.9 % 36.2 %
Net income attributable to IPG Photonics Corporation $ 37.7 $ 30.7 23% $ 67.7 $ 53.8 26%
Earnings per diluted share $ 0.72 $ 0.63 14% $ 1.34 $ 1.11 21%

Management Comments

“IPG reported record top and bottom line results for the second quarter of 2012,” said Dr. Valentin Gapontsev, IPG Photonics’ Chief Executive Officer. “Revenues increased 13% and net income grew 23% over the prior year.”

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