IPG Photonics Corporation announced 2005 sales of $96.5 million, a 59% increase from 2004, as well as a 300% increase in operating income. The growth came from all end-markets, including materials processing, telecom, and others, and builds upon the 80% sales jump and improvement in profitability IPG saw in 2004. As a result of its high three year growth rate, Boston Business Journal recently ranked IPG in the top 20 of the area's fastest-growing private companies.
"In 2005, IPG grew the number of OEM customers in low power fibre lasers, substantially increased sales of our unique kilowatt scale fibre lasers and, as well, saw rapid growth for our telecom high power fibre amplifier subsystems used in fibre to the premises applications: top line growth was driven by significant increases in sales in each of our product lines" said Tim Mammen, Chief Financial Officer of IPG. "With the growing scale of our business, IPG was better able to leverage manufacturing and operating efficiencies and drive significant improvements in profitability from 2004."
"As more customers learn about the benefits of our revolutionary fibre laser technology platform, IPG is expanding the uses and end-markets for our products" stated Dr. Valentin Gapontsev, IPG's CEO and founder. "In 2005, IPG saw fibre lasers winning in head to head competition against legacy YAG and CO2 lasers. As a result, demand for our multi-kilowatt and hundred-watt lasers started to accelerate powerfully."
"Last year we built over 60,000 sq. ft. of electronics-grade production facilities in Massachusetts and Germany, and this year we plan to add even more, including a state-of-the-art applications and test center opening next month in Germany" added IPG's founder. In 2005, IPG opened service centers in Korea and India and is planning additional centres locations throughout the world.
Contact: Tim Mammen
T: +44 (0) 207 8289929