RTTNews | May 4, 2021 08:13AM EDT

08:12 Tuesday, May 4, 2021 (RTTNews.com) - IPG Photonics Corporation (IPGP) reported a profit for its first quarter that increased from the same period last year.

The company's bottom line totaled $68.13 million, or $1.26 per share. This compares with $36.40 million, or $0.68 per share, in last year's first quarter.

Analysts had expected the company to earn $1.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 38.7% to $345.59 million from $249.24 million last year.

IPG Photonics Corporation earnings at a glance:

-Earnings (Q1): $68.13 Mln. vs. $36.40 Mln. last year.-EPS (Q1): $1.26 vs. $0.68 last year.-Analysts Estimate: $1.09-Revenue (Q1): $345.59 Mln vs. $249.24 Mln last year.

-Guidance:Next quarter EPS guidance: $1.20 to $1.50Next quarter revenue guidance: $360 to $390 Mln

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