Business

Mass. Movers

First-quarter profit up 17 percent at IPG

Valentin Gapontsev is IPG’s chief executive.

Boston Globe/File

Valentin Gapontsev is IPG’s chief executive.

IPG Photonics, the Oxford company that makes lasers used to process industrial materials, said net income rose 17 percent in the first quarter. The results fell short of Wall Street estimates. Profit grew to $35.1 million, or 67 cents per share, from $29.9 million, or 61 cents per share. “In materials processing, we reported a record quarter for high power laser sales, which increased 19 percent year-over-year,” said Valentin Gapontsev, IPG’s chief executive.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com