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IPG Photonics Reports Preliminary Fourth Quarter 2016 Financial Results in Advance of Photonics West Conference Expects to Report Record Revenue of $1 Billion for 2016 and $280 Million for Q4 Driven by Strength in Materials Processing Sales OXFORD, Mass.--(BUSINESS WIRE)-- IPG Photonics Corporation (NASDAQ: IPGP) today reported preliminary financial results for the fourth quarter ended December 31, 2016. For the fourth quarter, IPG expects to report revenue of approximately $280 million compared with the previously guided range of $255 million to $270 million, and earnings per diluted share in the range of $1.39 to $1.42, including a benefit of $0.02 from foreign exchange, compared with previous guidance of between $1.17 and $1.32 per diluted share. As IPG Photonics' year-end audit is not complete, these preliminary results are subject to adjustments from the audit. The Company is issuing preliminary results in advance of the Photonics West Conference. The Q4 earnings announcement will take place on February 14, 2017. Management Comments "We expect to report another quarter of record revenue and earnings, with full-year revenue exceeding $1 billion for the first time," said Dr. Valentin Gapontsev, IPG Photonics' Chief Executive Officer. "We are extremely pleased to have achieved this landmark revenue level in the quarter that marks our tenth anniversary as a public company. Our approximately 25% year-over-year increase in fourth-quarter revenue was primarily driven by the continued strong performance of materials processing. Geographically, we saw our strongest growth in Asia and Europe. In terms of products, growth was primarily driven by high-power fiber lasers, QCW lasers, pulsed lasers and amplifiers used in telecommunications applications. We look forward to providing our full fourth-quarter results, an update on our strategic progress and guidance for the first quarter of 2017 on our regular fourth-quarter conference call on February 14."
