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IPG Photonics Reports Revenue Growth Of 17% For Fourth Quarter And 19% For Full Year 2012

IPG Photonics Corporation (NASDAQ: IPGP) today reported financial results for the fourth quarter and fiscal year ended December 31, 2012.
    Three Months Ended       Twelve Months Ended

December 31,
   

December 31,
   
(In millions, except per share data)

2012
   

2011

% Change

2012
   

2011

% Change
Revenue $ 145.0 $ 123.5

17%

 
$ 562.5 $ 474.5

19%

 
Gross margin 51.8 % 53.8 % 54.2 % 54.2 %
Operating income $ 47.3 $ 46.1

3%

 
$ 208.9 $ 175.5

19%

 
Operating margin 32.6 % 37.3 % 37.1 % 37.0 %
Net income attributable to IPG Photonics Corporation $ 34.9 $ 31.1

12%

 
$ 145.0 $ 117.8

23%

 
Earnings per diluted share $ 0.67 $ 0.64

5%

 
$

2.81
$ 2.41

17%

 
 

Management Comments

“IPG ended a solid year of financial and operational performance with strong results for the fourth quarter,” said Dr. Valentin Gapontsev, IPG Photonics’ Chief Executive Officer. “Revenues for the quarter increased 17% over the prior year and net income increased by 12%, driven by high-power laser sales for materials processing applications. Looking at the full year, our 19% revenue growth and 23% net income growth demonstrates the wide and growing acceptance of IPG’s technology across a variety of applications.”

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