OXFORD, Mass. (AP) _ IPG Photonics Corp. (IPGP) on Tuesday reported second-quarter net income of $69.8 million.

The Oxford, Massachusetts-based company said it had net income of $1.29 per share. Earnings, adjusted for non-recurring costs, were $1.33 per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.

The high-powered laser maker posted revenue of $371.7 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $378.9 million.

For the current quarter ending in October, IPG said it expects revenue in the range of $350 million to $380 million. Analysts surveyed by Zacks had expected revenue of $377.1 million.

IPG shares have dropped roughly 3% since the beginning of the year. The stock has climbed 22% 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

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