WASHINGTON (dpa-AFX) - While reporting financial results for the third quarter on Tuesday, IPG Photonics Corp. (IPGP) provided earnings and revenue guidance for the fourth quarter, in line with estimates.
For the fourth quarter, the company expects earnings in a range of $0.05 to $0.35 per share on revenues between $210 million and $240 million.
On average, eight analysts polled by Thomson Reuters expect the company to report earnings of $0.19 per share on revenues of $225.89 million for the quarter. Analysts' estimates typically exclude special items.
For the third quarter, the company reported a net loss attributable to the company of $233.59 million or $5.33 per share, compared to net income of $54.99 million or $1.16 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter was $0.29 per share.
Revenue for the quarter declined 23 percent to $233.14 million from $301.40 million in the same quarter last year.
The Street expected the company to report earnings of $0.19 per share on revenues of $227.89 million for the quarter.
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