IPG Photonics Corporation (NASDAQ:IPGP) Q4 2022 Earnings Conference Call February 14, 2023 10:00 AM ET
Company Participants
Eugene Fedotoff - Director, IR
Eugene Scherbakov - CEO
Tim Mammen - SVP & CFO
Conference Call Participants
Jim Ricchiuti - Needham & Company
Ruben Roy - Stifel
Mark Miller - The Benchmark Company
Michael Feniger - Bank of America
Jamie Wang - Citigroup Hong Kong
Operator
Good morning and welcome to IPG Photonics' Fourth Quarter 2022 Conference Call. Today's call is being recorded and webcast.
At this time, I'd like to turn the call over to Eugene Fedotoff, IPG's Director of Investor Relations for introductions. Please go ahead, sir.
Eugene Fedotoff
Thank you, Rob, and good morning, everyone. With me today is IPG Photonics CEO Dr. Eugene Scherbakov; and Senior Vice President and CFO, Tim Mammen.
Let me remind you that statements made during the course of this call that discuss management's or the company's intentions, expectations or predictions of the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause the company's actual results to differ materially from those projected in such forward-looking statements. These risks and uncertainties are detailed in IPG Photonics' Form 10-K for the period ended December 31, 2022, and our reports on file with the Securities and Exchange Commission. Copies of these filings may be obtained by visiting the Investors section of IPG's website or by contacting the company directly. You may also find copies on the SEC's website. Any forward-looking statements made on this call are the company's expectations or predictions as of today, February 14, 2023, only. The company assumes no obligation to publicly release any updates or revisions to any such statements.
For additional details on our reported results, please refer to the earnings press release, earnings call presentation and the Excel-based financial data were posted on our Investor Relations website. We will post these prepared remarks on the Investor Relations website following the completion of this call.
With that, I'll now turn the call over to Eugene Scherbakov.
Eugene Scherbakov
Good morning everyone. I am pleased to report that we continued to see strong momentum in our focus areas such as e-mobility, welding and medical in the fourth quarter and finished the year with revenue above our guidance range, despite a challenging operating environment and currency headwinds. Our strategy to diversify revenue as evidenced by the performance of emerging growth products and applications is paying off. As we moved through the year, we continued to see record sales in e-mobility, medical and welding, including handheld welding applications. Our team has done an outstanding job diversifying the business and finding growth opportunities.