IPGP Q2 2020 Earnings Report — IPG Photonics Corporation Revenue & Financial Results | Market Cap Arena

IPG Photonics CorporationIPGP

Q2 2020 Earnings

Reported August 4, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2020	Q1 2020	Q2 2019	QoQ Change	YoY Change
Revenue	$296M	—	$364M	—	-18.5%
Op. Income	$47M	—	$91M	—	-48.2%
Gross Margin	46.0%	—	49.5%	—	-3.5pp
Net Margin	12.9%	—	19.9%	—	-7.0pp
EPS (Diluted)	$0.71	—	$1.34	—	-47.0%
Free Cash Flow	$54M	—	$3M	—	1992.6%

Revenue Flow

Item	Amount
REVENUE	$296M
Cost of Revenue	$160M
GROSS PROFIT	$136M
R&D Expenses	$32M
Selling & Marketing	$17M
General & Administrative	$26M
SG&A Expenses	$44M
Other Expenses	$14M
Operating Expenses	$89M
Cost & Expenses	$249M
OPERATING INCOME	$47M
Interest Income	$2M
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$50M
Income Tax Expense	$11M
Net Income from Continuing Ops	$38M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$38M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$38M
D&A	$23M
EBIT	$61M
EBITDA	$84M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$296M
Cost of Revenue	$160M
GROSS PROFIT	$136M
R&D Expenses	$32M
Selling & Marketing	$17M
General & Administrative	$26M
SG&A Expenses	$44M
Other Expenses	$14M
Operating Expenses	$89M
Cost & Expenses	$249M
OPERATING INCOME	$47M
Interest Income	$2M
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$50M
Income Tax Expense	$11M
Net Income from Continuing Ops	$38M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$38M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$38M
D&A	$23M
EBIT	$61M
EBITDA	$84M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$38M
Depreciation & Amortization	$23M
Stock-Based Compensation	$9M
Deferred Income Tax	$3M
Other Non-Cash Items	$24M
Change in Working Capital	-$24M
OPERATING CASH FLOW	$73M
Capital Expenditure	-$20M
Acquisitions (Net)	$321.0K
Purchases of Investments	-$113M
Sales/Maturities of Investments	$237M
Other Investing Activities	$36.0K
NET CASH FROM INVESTING	$105M
Net Debt Issuance	-$934.0K
Common Stock Repurchased	-$16M
Common Dividends Paid	$0
Other Financing Activities	$14M
NET CASH FROM FINANCING	-$3M
FREE CASH FLOW	$54M
Net Change in Cash	$178M

Balance Sheet

Item	Amount
Cash & Equivalents	$748M
Short-Term Investments	$501M
Net Receivables	$204M
Inventory	$367M
Other Current Assets	$68M
TOTAL CURRENT ASSETS	$2.0B
PP&E (Net)	$586M
Goodwill	$82M
Intangible Assets	$68M
Long-Term Investments	$0
Tax Assets	$31M
Other Non-Current Assets	$42M
TOTAL NON-CURRENT ASSETS	$808M
TOTAL ASSETS	$2.8B
Account Payables	$42M
Short-Term Debt	$4M
Deferred Revenue	$55M
Other Current Liabilities	$54M
TOTAL CURRENT LIABILITIES	$195M
Long-Term Debt	$36M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$90M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$126M
TOTAL LIABILITIES	$321M
Common Stock	$6.0K
Additional Paid-In Capital	$812M
Retained Earnings	$2.1B
Treasury Stock	-$294M
Accum. Other Comp. Income	-$185M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.4B
Minority Interest	$954.0K
TOTAL EQUITY	$2.4B
TOTAL LIABILITIES & EQUITY	$2.8B
Total Debt	$45M
Net Debt	-$703M