- Though missing Q1 revenue estimates (thanks in large part to a strong dollar), IPG Photonics (NASDAQ:IPGP +1.2%) is guiding for Q2 revenue of $215M-$225M and EPS of $1.05-$1.15, favorable to a consensus of $218.4M and $1.07 at the midpoints.
- The Q1 EPS beat was driven by an $8.8M gain on forex transactions. Meanwhile, Y/Y revenue growth would've been 20% (rather than the reported 17%) at last year's average exchange rates. Order flow and book-to-bill are said to "remain at strong levels" in IPG's 3 main geographies. "Strong growth" was seen in the U.S., Europe, and China, and lower sales in Japan and Russia.
- Materials processing laser sales rose 18% Y/Y, and high-power fiber laser sales 14%. Gross margin was 54.2% vs. 54.9% in Q4 and 52.3% a year ago. Not counting forex transaction gains, GAAP operating expenses rose just 5% Y/Y to $43.6M.
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Q1 results, PR