News Article
IPG Share Price Shoots Up 20% Since Q2 Y 2010 Release
The strong financial results are mainly due to high demand for laser products and increased business with China, with the current share price hitting almost $20.
Since IPG Photonics reported its financial results on 3 August for the second quarter of fiscal 2010 ended June 30, the share price has risen at start of trading on Monday 2 August,from $16.14, to $18.34 at start of trading on Tuesday. It is currently close to $20 per share.
IPG Photonics expects revenues in the range of $69 million to $75 million for the third quarter of 2010. The Company anticipates earnings per diluted share in the range of $0.19 to $0.25 based on 47,333,000 common shares, which includes 46,220,000 basic common shares outstanding and 1,113,000 potentially dilutive options at June 30, 2010. The EPS guidance includes higher planned legal expenditures related to the IMRA America patent trial scheduled to begin in August 2010.
The Company has also announced that all claims related to the CardioFocus patent litigation have been settled by mutual agreement.
It’s worth keeping your eyes on this dark horse…
