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IPG Photonics Shares Hit New Record High

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Shares of IPG Photonics touched a new lifetime high on Tuesday morning after the company reported Q1 results which were better-than-expected and issued upside guidance for Q2. IPGP was up over 9% recently with a new 52-week range of $76.22 to $140.00

Q1 EPS doubled to $1.38 per share from $0.92 per share a year earlier, handily beating the $1.20 per share consensus compiled by Capital IQ. Revenues surged 38% year-over-year to $285.8 million and beat expectations for $254.0 million. For Q2, IPG Photonics expects EPS of $1.50 to $1.70 per share on revenues of $320 million to $340 million, above the consensus for $1.38 on EPS and for $282.4 million on revenues.