Q3 guidance is for revenue of $165M-$175M and EPS of $0.77-$0.87 vs. a consensus of $172.6M and $0.86. Q2 book-to-bill "substantially exceeded 1."
Materials processing laser sales (94% of revenue) continue to be healthy as IPG's (IPGP) fiber lasers take more share from traditional industrial lasers; sales +26% Y/Y in Q2 vs. +29% in Q1.
Unit sales of IPG's QCW lasers more than doubled Y/Y.
China and the U.S. saw strong demand in Q2. German automotive sales were weak, but European demand was "otherwise solid."
Gross margin was 53.5%, +20 bps Q/Q and -80 bps Y/Y.
Exc. forex losses, opex +43% Y/Y (above rev. growth) thanks to big increases in G&A and R&D spend.
CC getting underway (webcast).
Q2 results, PR