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IPG Photonics Q2 profit climbs 48.4% YOY

IPG Photonics Corp. said its normalized net income for the second quarter came to $1.63 per share, compared with the S&P Capital IQ consensus estimate of $1.64 per share.

EPS climbed 46.5% year over year from $1.11.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $88.5 million, an increase of 48.4% from $59.7 million in the year-earlier period.

The normalized profit margin climbed to 24.0% from 23.6% in the year-earlier period.

Total revenue climbed 46.1% year over year to $369.4 million from $252.8 million, and total operating expenses rose 38.7% on an annual basis to $221.0 million from $159.3 million.

Reported net income rose 54.7% year over year to $104.0 million, or $1.91 per share, from $67.2 million, or $1.25 per share.