OXFORD, Mass. (AP) _ IPG Photonics Corp. (IPGP) on Tuesday reported second-quarter profit of $38.2 million.

The Oxford, Massachusetts-based company said it had net income of 71 cents per share. Earnings, adjusted for restructuring costs, were 91 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The high-powered laser maker posted revenue of $296.4 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $274.6 million.

For the current quarter ending in October, IPG said it expects revenue in the range of $280 million to $310 million. Analysts surveyed by Zacks had expected revenue of $301.8 million.

IPG shares have increased 24% since the beginning of the year. The stock has increased 43% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IPGP at https://www.zacks.com/ap/IPGP

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile