IPG Photonics (IPGP) Q2 Earnings Miss, Revenues Decline Y/Y

Emerging growth product sales contributed 46% to revenues, which improved sequentially driven by growth in handheld welding, medical and advanced applications. Revenues of $258 million declined 24% on a year-over-year basis but beat the consensus mark by 0.88%. Unfavorable forex hurt revenue growth by 2%. Quarterly Details Revenues from other applications increased 24% year over year, primarily due to higher revenues in medical and advanced applications. IPG Photonics reported a gross margin of 37.3%, down ...