IPG Photonics

IPG Photonics Announces Fourth Quarter 2023 Financial Results

Retrieved on: 
Tuesday, February 13, 2024

MARLBOROUGH, Mass. , Feb. 13, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (Nasdaq: IPGP) today reported financial results for the fourth quarter ended December 31, 2023.

Key Points: 
  • "Fourth quarter revenue came in at the top of our expectations with higher sales in welding, cleaning, 3D printing and medical applications.
  • "In 2023, we focused on diversifying and growing our revenue outside of flat sheet cutting and away from China.
  • Fourth quarter revenue of $299 million decreased 10% year over year.
  • During the fourth quarter, IPG generated $106 million in cash from operations, and spent $25 million on capital expenditures and $64 million on share repurchases.

With More Than 24,000 Registered, SPIE Photonics West 2024 Showcased a Robust and Expanding Industry

Retrieved on: 
Thursday, February 8, 2024

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240208158413/en/
    SPIE Photonics West 2024 hosted an enthusiastic crowd of optics and photonics professionals at San Francisco's Moscone Center.
  • (Photo: Business Wire)
    “Photonics West heralds the beginning of the optics and photonics calendar each year for good reason,” said SPIE CEO Kent Rochford.
  • “The invigorating energy and high levels of enthusiasm throughout the Moscone Center characterized a truly exciting week.
  • SPIE Photonics West 2025 will take place 25-30 January at the Moscone Center in San Francisco.

Infleqtion Fuels 2024 Execution with Strategic Leadership Moves

Retrieved on: 
Monday, January 8, 2024

AUSTIN, Texas, Jan. 8, 2024 /PRNewswire/ -- Infleqtion, the world's leading quantum information company, today announced the addition of six industry luminaries to its Board of Directors, Advisory Board, and leadership team. Infleqtion is at the forefront of commercializing quantum technology building on multiple product introductions and partnerships in 2023, including the selection of the company's neutral atom platform for Japan's Quantum Moonshot program, the launch of Oqtant, the world's first quantum matter service, selection for new optical atomic clocks in the United Kingdom, and the demonstration of advanced quantum RF capability and interoperability. The company is gearing up for an exciting 2024, bringing the power of quantum to life with sensing, communication, and computing solutions for key markets in healthcare, financial services, defense, and communications.

Key Points: 
  • Infleqtion CEO Scott Faris and other company leaders will share details of Infleqtion's 2024 roadmap and growth plans in its first-ever industry webinar on February 8, 2024, at 10:00 a.m. Central Time.
  • Her leadership, strategy, and business acumen will help guide Infleqtion through the next phase of growth.
  • Infleqtion has ambitious 2024 growth plans to exceed 2023 record bookings, deliver groundbreaking technology solutions, and reach new customers and end markets.
  • Register here for the February 8, 2024 webinar to learn about Infleqtion's view of the future of quantum and industry solutions coming to market in 2024.

2023 MIT Sloan CFO Summit Delivers: 21st Annual Event Concludes with CFO Achievements, Insights and Advice

Retrieved on: 
Thursday, November 16, 2023

The MIT Sloan CFO Summit , the premier conference for Chief Financial Officers, concluded its 21st annual event with more than 400 CFOs, senior financial executives and MIT faculty participating in formal presentations and informal networking.

Key Points: 
  • The MIT Sloan CFO Summit , the premier conference for Chief Financial Officers, concluded its 21st annual event with more than 400 CFOs, senior financial executives and MIT faculty participating in formal presentations and informal networking.
  • Themed “Delivering Success,” the conference featured insights from CFO keynote speakers including Delta Air Lines, GE, Honeywell and Johnson & Johnson.
  • In addition to keynote sessions, break-out panels addressed the full range of CFO skills and responsibilities including Talent in the Finance Function; Balancing Risk and Reward; Managing through M&A Cycles; Driving Innovation; Customer Centric CFOs; and Foundational Finance.
  • The panels were led by CFOs from a range of industries representing start-ups to established, public and private, and included Aspen Technology, Appfire, CVS Health, HubSpot, IPG Photonics, IntelyCare, Sigilon Therapeutics, SquareSpace and more .

Miller Electric Mfg. LLC and IPG Photonics Announce Strategic Technology Collaboration to Deliver Leading Laser Solutions to the Handheld Welding Market

Retrieved on: 
Tuesday, November 7, 2023

APPLETON, Wis., Nov. 7, 2023 /PRNewswire/ -- Miller Electric Mfg. LLC, a leading worldwide manufacturer of arc welding products, and IPG Photonics Corporation (NASDAQ: IPGP), a global leader in fiber laser technology, today announced a strategic technology partnership with a goal to further promote laser solutions for handheld welding applications.

Key Points: 
  • LLC, a leading worldwide manufacturer of arc welding products, and IPG Photonics Corporation (NASDAQ: IPGP), a global leader in fiber laser technology, today announced a strategic technology partnership with a goal to further promote laser solutions for handheld welding applications.
  • The combination of Miller's extensive knowledge of the unique needs of traditional welding methods and IPG Photonics' expertise in fiber laser technology will bring ease of use, speed and precision, transforming the handheld welding process.
  • Miller Electric and IPG Photonics are renowned for their unwavering commitment to innovation and are synonymous with quality and reliability.
  • "We are excited to enter this partnership with Miller, as it allows us to pioneer new frontiers in handheld welding technology.

IPG Photonics and Miller Electric Mfg. LLC Announce Strategic Technology Collaboration to Deliver Leading Laser Solutions to the Handheld Welding Market

Retrieved on: 
Tuesday, November 7, 2023

LLC, a leading worldwide manufacturer of arc welding products, today announced a strategic partnership with a goal to further promote laser solutions for handheld welding applications.

Key Points: 
  • LLC, a leading worldwide manufacturer of arc welding products, today announced a strategic partnership with a goal to further promote laser solutions for handheld welding applications.
  • The combination of IPG Photonics’ expertise in fiber laser technology and Miller’s extensive knowledge of the unique needs of traditional welding methods will bring ease of use, speed and precision, transforming the handheld welding process.
  • IPG Photonics and Miller Electric are renowned for their unwavering commitment to innovation and are synonymous with quality and reliability.
  • "We are excited to embark on this partnership with Miller Electric, as it allows us to pioneer new frontiers in handheld welding technology.

IPG Photonics Announces Third Quarter 2023 Financial Results

Retrieved on: 
Tuesday, October 31, 2023

MARLBOROUGH, Mass., Oct. 31, 2023 (GLOBE NEWSWIRE) --   IPG Photonics Corporation (NASDAQ: IPGP) today reported financial results for the third quarter ended September 30, 2023.

Key Points: 
  • Our medical sales also increased following an inventory adjustment by a large customer in the prior quarter," said Dr. Eugene Scherbakov, IPG Photonics' Chief Executive Officer.
  • Foreign exchange transaction gains increased operating income by $0.4 million and earnings per share by $0.01 in the third quarter.
  • During the third quarter, IPG generated $86 million in cash from operations and spent $26 million on capital expenditures and $46 million on share repurchases.
  • For the fourth quarter of 2023, IPG expects revenue of $270 million to $300 million.

IPG Photonics Showcases Cutting-Edge Technologies, Live Demonstrations and Sponsorship at FABTECH 2023

Retrieved on: 
Monday, September 11, 2023

IPG will be offering live hands-on LightWELD® system demonstrations for attendees at FABTECH in five welding cells.

Key Points: 
  • IPG will be offering live hands-on LightWELD® system demonstrations for attendees at FABTECH in five welding cells.
  • Special LightWELD events include live welding demonstrations by guest welders who will complete artistic welded sculptures and fabricate custom automotive parts, plus demonstrations for robot-assisted welding with cobot integration.
  • After the discussion all attendees are invited to the IPG Photonics booth to explore the latest fiber laser solutions and have a personal VIP hands-on LightWELD experience.
  • IPG software is designed to provide powerful features with a simple and intuitive user interface for remote processing applications including cutting, welding, cleaning and marking.

NIRI Boston Elects Board of Directors for the 2023-2024 Programming Year

Retrieved on: 
Thursday, September 7, 2023

The Boston Chapter of the National Investor Relations Institute ( NIRI Boston ) today announced its Board of Directors for the 2023-2024 programming year.

Key Points: 
  • The Boston Chapter of the National Investor Relations Institute ( NIRI Boston ) today announced its Board of Directors for the 2023-2024 programming year.
  • “The NIRI Boston chapter provides exceptional programming to our community,” said NIRI Boston President Scott Lanciloti.
  • “I wanted to thank our outgoing Board members and our current Board members for their service.
  • It’s the perfect opportunity to unwind, connect with fellow professionals, and enjoy some live entertainment from Boston local band Hurry Sundown .

Applications Open for the 2024 SPIE Prism Awards, Which Recognize the Photonics Industry’s Most Innovative Products

Retrieved on: 
Tuesday, August 1, 2023

Applications are now open for the 2024 SPIE Prism Awards , an event which will celebrate its 16th anniversary on 31 January, during a gala evening at SPIE Photonics West .

Key Points: 
  • Applications are now open for the 2024 SPIE Prism Awards , an event which will celebrate its 16th anniversary on 31 January, during a gala evening at SPIE Photonics West .
  • The awards, held annually by SPIE, the international society for optics and photonics , recognize and honor the most innovative products on the market across the wide range of optics and photonics applications.
  • View the full release here: https://www.businesswire.com/news/home/20230801922368/en/
    Applications are open for the 2024 SPIE Prism Awards.
  • “The SPIE Prism Awards always offer an exciting showcase of the most innovative photonics technologies on the market,” said SPIE CEO Kent Rochford.