IPG Photonics Corporation (NASDAQ: IPGP) negotiated 543,453 shares against it an average volume of 382,618 shares. The stock concluded the recent trade at $220.63 with upbeat trend move of +3.19%. The company has total market value of 11.847 billion. The company has got a 52-week exceptional price of $264.11 and reached a 52-week lowest of the share price at $144.71. The daily trading range was observed between a day’s low price of $214.31 to a day’s high price of $222.90.
IPG Photonics Corporation (IPGP) recently stated financial results for the first quarter ended March 31, 2018.
First quarter revenue of $359.9M raised 26% year over year. Materials processing sales raised 28% year over year and accounted for about 94% of total sales driven by strength in cutting and 3D printing applications. Sales to other markets reduced 5% year over year. High power CW laser sales raised 37% year over year, representing 64% of total revenue, with even stronger growth in sales of ultra-high power CW lasers with power levels of six kilowatts and above. By region, sales raised 29% in China and Europe, 39% in Japan, and 3% in the United States, on a year over year basis.
Earnings per diluted share (“EPS”) of $1.93 raised 40% year over year. Foreign exchange gains benefited EPS by $0.07. The effective tax rate in the quarter was 25%. IPG’s tax rate benefited from the lower U.S. Federal tax rate of 21%, while certain discrete items, including excess tax benefits related to equity compensation, were offset by additional taxes accrued for Global Intangible Low Taxed Income (“GILTI”) net of Foreign Derived Intangible Income (“FDII”) deduction benefits.
During the first quarter, IPG generated $99.7M in cash from operations and used $39.1M to finance capital expenditures. IPG ended the quarter with $1.18B in cash and cash equivalents and short-term investments, representing an raise of $59.8M from December 31, 2017.
For the second quarter of 2018, IPG expects revenue of $400M to $430M, representing growth of 8% to 15% year over year. The Company expects the second quarter tax rate to be about 26% not including effects relating to equity grants, and anticipates delivering earnings per diluted share in the range of $2.05 to $2.35, representing growth in the range of 7% to 23% year over year, with 53.7M basic ordinary shares outstanding and 55.2M diluted ordinary shares outstanding. At this time, IPG is not updating its 2018 yearly guidance.
The stock’s institutional ownership stands at 59.50%. Return on equity (ROE) was noted as 19.10% while return on investment (ROI) was 19.10%. EPS growth ratio for the past five years was 20.80% while Sales growth for the past five years was 20.20%.