Business

IPG’s revenue strong but misses estimates

IPG Photonics chief executive Valentin Gapontsev.

Essdras M Suarez/Globe Staff

IPG Photonics chief executive Valentin Gapontsev.

IPG Photonics Corp.’s fourth-quarter profit rose 12 percent as the Oxford company reported strong revenue growth, driven by high-power laser sales. Results, however, missed estimates. IPG reported fourth-quarter net income of $34.9 million or 67 cents per share, compared to $31.1 million or 64 cents last year. Analysts had expected 72 cents. Looking ahead, IPG expects revenue in the range of $145 million to $155 million for 2013’s first quarter.

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