IPG Photonics of the United States announces fourth quarter 2023 financial results

IPG Photonics of the United States released its fourth quarter 2023 financial report, which showed that the company's revenue in the quarter reached US$299 million, a year-on-year decrease of 10%. Gross profit margin increased by 38.2% year-on-year. Full-year revenue was US$1.287 billion, a year-on-year decrease of 10%, net income was US$232 million, a year-on-year increase of 37%, and gross profit margin increased by 42.1% year-on-year.