FOCUS BUSINESS NEWS
Photonics firms report growth
l IPG, Coherent, Jenoptik and Lumentum make gains
l Lidar boosts Keopsys Quantel sales
Fibre laser manufacturer IPG Photonics has reported $1.41 billion in yearly revenue throughout 2017, a 40 per cent increase over the $1.01 billion recorded last year. Net income for the year was $3.47 billion, an increase of 33 per cent over the $260.8 million posted at the end of 2016. Fourth quarterly revenues totalling $361.1 million were posted to conclude the year, a 29 per cent increase year- over-year. During the quarter IPG generated $108 million in cash from operations and used $27 million to finance capital expenditures. The firm therefore ended the year with $1.12 billion in cash and cash equivalents and short-term investments, representing an increase of $286 million from 31 December 2016. Materials processing sales
accounted for approximately 94 per cent of IPG’s fourth quarterly revenue, an increase of 32 per cent year-over-year, demonstrating particular strength in cutting, welding and 3D printing applications. High-power laser sales
increased 40 per cent year- over-year for the quarter, while pulsed laser sales increased by 20 per cent. Growth in systems and beam delivery accessories led to sales of other laser products increasing by 24 per cent year-on-year. On a geographical basis, IPG
achieved double-digit year-over- year sales growth in China, Europe, North America and Turkey, with sales also growing modestly in Japan. For the first quarter of 2018 IPG expects revenue growth in the range of 15-24 per cent year-over-year, or $330 million
6 Electro Optics March 2018
to $355 million. For the full year the firm is targeting revenue growth of 10 to 15 per cent.
Coherent receives first volume order for high-power fibre lasers in China Coherent has announced net sales of $477.6 million for its first 2018 fiscal quarter ending 30 December 2017, with a GAAP net income of $41.9 million, an increase of 38 per cent year-on-year for both figures. These results allowed Coherent to repay a further €75 million of its debts, with it now having repaid approximately one third of the debt to finance its acquisition of Rofin in 2016. During the quarter the firm
received its first volume order for high-power fibre lasers from one of the largest Chinese machine tool manufacturers. It also experienced a solid uptick in medical device manufacturing workstations.
Semiconductor strength and US sales drive Jenoptik success Integrated photonics group Jenoptik achieved new record figures in 2017, with provisional calculations predicting yearly revenue growth of 9.2 per cent to around €748 million, up from €684.8 million. Earnings before interest and tax (EBIT) improved to just under €78 million, up 17.8 per cent. Over the full year, the company received new orders
with a combined value of approximately €803 million, a rise of 9.4 per cent from €733.8 million last year. Business performance was
facilitated by strong demand from the semiconductor equipment industry and, on a regional level, strong growth in the US, according to the group. Jenoptik will enter 2018 with
a new strategy that focuses more clearly on photonic technologies in all of the firm's
“Jenoptik will enter 2018 with a new strategy that focuses more clearly on photonic technologies in all of the company’s initiatives and developments”
initiatives and developments, particularly those involving information processing, smart manufacturing, sensing and metrology, and biophotonics. The group’s optics and life science segment achieved new revenue and earnings records in 2017, primarily due to the very positive pace of growth in the semiconductor equipment industry. Segment revenue rose 17 per cent to more than €259 million and EBIT improved to more than €50 million. Jenoptik’s mobility segment reported 9 per cent growth to approximately €270 million, with EBIT coming to just under €19 million, roughly
€6 million below the prior year’s €24.4 million, in particular due to one-off costs in a traffic safety project. Revenue in the defence and
civil systems segment exceeded €219 million in 2017, with an EBIT of around €19 million, matching the high levels of the prior year (218.3 million and 19.1 million respectively). As part of the strategy, the photonic businesses of this segment will be merged with the activities in today’s optics and life science segment. For the coming year Jenoptik
is targeting revenues between €790 million and €810 million.
3D demand leads to Lumentum exceeding quarterly guidance Optics and photonics manufacturer Lumentum posted net revenue of $404.6 million and GAAP net income of $204.8 million for its second fiscal quarter 2018 ending 30 December 2017, a significant increase over the $265.0 million and $11.8 million recorded last year respectively. The results exceeded the firm’s guidance for the quarter thanks to a strong demand in 3D sensing, industrial and telecom pump lasers, and reconfigurable optical add-drop multiplexers. Optical communications
accounted for 89 per cent of the firm’s revenue for the quarter, corresponding to $360.1 million, up approximately 52
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