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IPG Photonics ( (IPGP) ) just unveiled an announcement.
On February 7, 2025, IPG Photonics announced that Thomas J. Burgomaster, their Vice President, Corporate Controller, and Chief Accounting Officer, would retire on March 1, 2025. Mary E. Buttarazzi, who joined IPG as Vice President of Finance in January 2025, will succeed him. Ms. Buttarazzi has extensive experience in finance and accounting leadership. Additionally, IPG Photonics reported its fourth-quarter financial results for 2024, showing a 22% decrease in revenue year-over-year, attributed to lower sales in materials processing and medical applications. Despite this, they achieved a gross margin increase and strong cash flow from operations. The company remains focused on managing costs and investing in strategic growth initiatives to position itself well for future market rebounds.
More about IPG Photonics
IPG Photonics Corporation is a leader in high-power fiber lasers and amplifiers, primarily used in materials processing and various applications. Headquartered in Marlborough, Massachusetts, the company focuses on developing innovative laser solutions to enhance productivity and cost-effectiveness for end users.
YTD Price Performance: -7.25%
Average Trading Volume: 247,540
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2.98B
For an in-depth examination of IPGP stock, go to TipRanks’ Stock Analysis page.
