Business

Mass. Movers

IPG Photonics posts third-quarter results

Valentin Gapontsev cited new demand for lasers.
Globe Staff/File
Valentin Gapontsev cited new demand for lasers.

IPG Photonics reported flat third-quarter earnings, and cited an increase in demand for lasers for cutting and welding applications. The Oxford company, which makes fiber lasers and amplifiers, earned $42.3 million, or 81 cents per share, compared with $42.4 million, or 81 cents, a year ago. CEO Valentin Gapontsev said earnings per share “reflects the peak of our current investment cycle expanding manufacturing capacity, R&D, and sales and marketing.”