IPG Photonics Corporation (NASDAQ:IPGP) shares are trading lower on Tuesday after reporting second-quarter results.
The company reported earnings per share of 45 cents, missing the analyst consensus of 51 cents. Quarterly revenues of $257.645 million, decreased 24% year over year and missed the street view of $258.955 million.
By region, sales decreased 2% in North America and were down 34% in China, 27% in Europe and 39% in Japan on a year-over-year basis.
Gross margin of 37.3% decreased 610 basis points year over year due …