IPG Photonics Reports 22% Revenue Growth For Fourth Quarter 2011 And 59% Revenue Growth For Full Year

IPG Photonics Corporation (NASDAQ: IPGP) today reported financial results for the fourth quarter and fiscal year ended December 31, 2011.
Three Months Ended     Twelve Months Ended  

December 31,

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

2011
 

2010

% Change

2011
 

2010

% Change
 
Revenue $ 123.5 $ 101.0 22 % $ 474.5 $ 299.3 59 %
 
Gross margin 53.8 % 55.0 % 54.2 % 48.9 %
 
Operating income $ 46.1 $ 38.8 19 % $ 175.5 $ 80.4 118 %
 
Operating margin 37.3 % 38.4 % 37.0 % 26.9 %
 
Net income attributable to IPG Photonics Corporation $ 31.1 $ 27.1 15 % $ 117.8 $ 54.0 118 %
 
Earnings per diluted share $ 0.64 $ 0.56 14 % $ 2.41 $ 1.13 113 %

Management Comments

“We again report strong growth for the fourth quarter and for the full year,” said Dr. Valentin Gapontsev, IPG Photonics’ Chief Executive Officer. “Revenues for the year increased 59% and net income more than doubled. Our fourth-quarter results were consistent with the trend that carried through 2011 – strong year-over-year revenue growth driven by high-power laser sales for materials processing applications.”

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