IPG Photonics Shares Jump

IPG Photonics shares rose to their highest level ever on Tuesday after the maker of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories reported better-than-expected Q2 results. Earnings rose to $1.91 per share from $1.25 a year ago and exceeded the $1.64 estimate from analysts polled by Capital IQ while revenue rose to $369.4 million from $252.8 million and beat the $333.1 million consensus.

For Q3, IPC expects revenue between $350 million and $375 million, well above the $318.6 million estimate and earnings of $1.70 to $1.90, also above the $1.56 estimate. IPGP was up 7% at $162.61 recently, trading in a new 52-week range between $80.52 and $165.99.