IPG Photonics Reports Year-end Figures
The annual results for IPG Photonics have been revealed.
Fibre laser and amplifier developer IPG Photonics has announced its fourth quarter and final results for 2009.
The company showed a 19 per cent decrease in revenue over the year to $185.6 million (£124.4 million), while the firm s gross margin contracted from 46.8 to 34.6 per cent.
Moreover, operating income fell 84 per cent for the year from $57.2 million to just $9.1 million and earnings per diluted share contracted by 85 per cent as a result to $0.12.
While these figures might seem depressing to the casual observer, Dr Valentin Gapontsev, IPG Photonics chief executive officer, was more upbeat about the year and noted the company had a strong first three quarters and even managed a 19 per cent rise in revenues on a sequential basis.
He noted the company repaid $9.8 million in bank debt and ended the quarter with $82.9 million in cash and cash equivalents - an increase of $31.6 million from year-end 2008.
Indeed, Dr Gapontsev commented: "As the markets begin to emerge from the recession, customers are seeking ways to be more efficient in how they manufacture their products.
"We believe the benefits and significant cost savings that IPG s fibre laser solutions provide will continue to be recognised, enabling us to capitalise on new opportunities and strengthen our leadership position."
The company announced revenues for the first quarter of 2010 are expected to reach between $48 million and $53 million. In addition, earnings per diluted share are expected to stand in the range of $0.02 to $0.07.
IPG presently operates manufacturing facilities across the globe, including in the US, Germany, Russia and Italy, as well as having regional sales offices in India, Japan, Korea and the UK.
The firm noted that since its founding in 1990, IPG has shipped more than 40,000 units to over 500 customers worldwide.