IPG Photonics Corporation

02/11/2026 | Press release | Distributed by Public on 02/12/2026 07:19

Fourth Quarter 2025 Financial Data Workbook

About

Financial Data Workbook
Fourth Quarter 2025
December 31, 2025
(Unaudited)
Contact:
Eugene Fedotoff
Senior Director, Investor Relations
[email protected]
(508) 597-4713
The financial data in this workbook should be read in conjunction with, and is qualified by reference to, IPG's consolidated financial statements and
related notes thereto, and the "Management's Discussion and Analysis of Financial Condition and Results of Operation" included in the Forms 10-K
and Forms 10-Q corresponding to the financial data in this workbook. The Forms 10-K and Forms 10-Q can be found at sec.gov or on the investor
relations section of the company's website at investors.ipgphotonics.com.
December 31, 2025

&G

mailto:[email protected]

Income Statement

IPG Photonics Corporation FY'06 FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'25
Consolidated Statements of Income
(unaudited, in thousands, except per share data) Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended
31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec
Net sales $ 32,743 $ 32,184 $ 36,201 $ 42,097 $ 143,225 $ 41,753 $ 43,952 $ 47,905 $ 55,067 $ 188,677 $ 52,876 $ 55,994 $ 62,012 $ 58,194 $ 229,076 $ 45,408 $ 40,385 $ 45,808 $ 54,293 $ 185,894 $ 51,204 $ 67,258 $ 79,809 $ 100,985 $ 299,256 $ 99,958 $ 121,936 $ 129,064 $ 123,524 $ 474,482 $ 123,192 $ 137,927 $ 156,379 $ 145,030 $ 562,528 $ 141,852 $ 168,171 $ 172,152 $ 165,859 $ 648,034 $ 170,575 $ 192,204 $ 199,651 $ 207,402 $ 769,832 $ 198,960 $ 235,138 $ 243,541 $ 223,626 $ 901,265 $ 207,248 $ 252,787 $ 266,017 $ 280,121 $ 1,006,173 $ 285,846 $ 369,373 $ 392,615 $ 361,055 $ 1,408,889 $ 359,864 $ 413,613 $ 356,346 $ 330,051 $ 1,459,874 $ 315,047 $ 363,769 $ 329,138 $ 306,627 $ 1,314,581 $ 249,242 $ 296,411 $ 318,441 $ 336,630 $ 1,200,724 $ 345,585 $ 371,658 $ 379,150 $ 364,467 $ 1,460,860 $ 369,979 $ 377,023 $ 349,006 $ 333,539 $ 1,429,547 $ 347,174 $ 339,971 $ 301,401 $ 298,893 $ 1,287,439 $ 252,009 $ 257,645 $ 233,143 $ 234,337 $ 977,134 $ 227,793 $ 250,721 $ 250,792 $ 274,471 $ 1,003,777
Cost of sales 20,278 18,841 18,864 21,948 79,931 22,422 23,633 26,200 31,440 103,695 28,476 29,047 32,590 31,663 121,776 29,547 28,613 29,085 34,381 121,626 30,657 36,797 39,878 45,466 152,798 46,292 55,230 58,605 57,100 217,227 54,508 63,017 70,420 69,856 257,801 66,211 78,249 79,339 84,337 308,136 81,291 87,977 90,561 93,485 353,314 91,133 106,435 110,237 101,583 409,388 92,838 115,083 121,226 124,785 453,932 128,579 163,077 168,060 152,262 611,978 156,502 178,638 161,162 163,303 659,605 166,136 183,532 176,280 182,424 708,372 146,366 159,962 165,649 $ 189,751 661,728 181,594 191,130 193,276 $ 198,462 764,462 198,158 204,679 198,582 272,715 874,134 200,236 192,280 168,499 184,726 745,741 154,473 $ 161,459 179,054 143,993 638,979 137,981 157,148 151,787 $ 175,398 622,314
Gross profit 12,465 13,343 17,337 20,149 63,294 19,331 20,319 21,705 23,627 84,982 24,400 26,947 29,422 26,531 107,300 15,861 11,772 16,723 19,912 64,268 20,547 30,461 39,931 55,519 146,458 53,666 66,706 70,459 66,424 257,255 68,684 74,910 85,959 75,174 304,727 75,641 89,922 92,813 81,522 339,898 89,284 104,227 109,090 113,917 416,518 107,827 128,703 133,304 122,043 491,877 114,410 137,704 144,791 155,336 552,241 157,267 206,296 224,555 208,793 796,911 203,362 234,975 195,184 166,748 800,269 148,911 180,237 152,858 124,203 606,209 102,876 136,449 152,792 146,879 538,996 163,991 180,528 185,874 166,005 696,398 171,821 172,344 150,424 60,824 555,413 146,938 147,691 132,902 114,167 541,698 97,536 96,186 54,089 90,344 338,155 89,812 93,573 99,005 99,073 381,463
Operating expenses:
Sales and marketing 1,080 1,263 1,768 2,111 6,222 1,909 2,836 2,488 2,870 10,103 3,147 3,703 3,735 3,315 13,900 3,189 3,880 3,788 4,300 15,157 4,338 4,932 4,527 5,303 19,100 4,948 5,847 5,656 5,280 21,731 5,132 5,854 5,785 7,074 23,845 5,868 6,845 6,801 7,178 26,692 7,165 8,047 7,496 7,929 30,637 7,549 7,962 7,717 8,640 31,868 8,034 9,689 10,460 10,210 38,393 10,827 12,136 13,384 13,454 49,801 13,516 14,536 13,479 16,284 57,815 19,275 20,663 18,969 18,838 77,745 18,683 17,326 17,332 17,242 70,583 18,883 19,193 20,688 19,416 78,180 20,374 19,010 19,383 17,876 76,643 21,088 20,187 22,243 22,161 85,679 22,998 22,487 22,233 21,864 89,582 24,430 25,552 23,771 24,109 97,862
Research and development 1,235 1,387 1,692 2,230 6,544 2,129 2,388 2,354 2,656 9,527 2,874 4,447 4,130 4,353 15,804 4,142 4,734 4,569 5,098 18,543 4,158 4,729 4,981 5,292 19,160 5,731 6,610 6,501 6,580 25,422 7,140 7,229 7,762 9,270 31,401 8,798 10,483 11,501 10,878 41,660 12,784 13,362 13,447 13,810 53,403 14,230 15,114 16,221 17,769 63,334 17,489 18,412 20,543 22,108 78,552 22,780 25,960 25,541 26,589 100,870 28,546 31,813 30,909 31,501 122,769 32,496 34,872 32,160 30,469 129,997 31,838 31,584 31,710 31,766 126,898 33,339 35,191 34,277 36,766 139,573 33,450 30,608 25,436 26,620 116,114 22,770 23,512 24,708 27,714 98,704 29,381 27,487 27,177 25,738 109,783 28,336 29,937 30,358 28,771 117,402
General and administrative 2,659 3,154 3,539 5,170 14,522 4,241 4,989 4,049 5,749 19,028 6,412 5,765 6,062 4,959 23,198 4,990 4,944 4,758 5,797 20,489 6,828 7,384 7,800 6,633 28,645 8,169 8,333 10,997 9,943 37,442 9,949 8,736 10,609 9,937 39,231 11,810 12,829 13,175 13,049 50,863 12,916 13,124 14,172 15,126 55,338 12,778 15,017 14,679 14,718 57,192 13,901 16,151 16,797 19,637 66,486 17,726 19,875 21,491 21,576 80,668 25,495 24,117 25,245 27,572 102,429 27,212 28,538 26,776 25,071 107,597 27,124 26,399 29,038 27,444 110,005 30,092 31,066 32,557 32,167 125,882 30,664 33,411 33,813 33,365 131,253 30,128 29,660 30,958 35,003 125,749 31,158 31,602 32,660 28,893 124,313 32,808 34,882 35,092 40,358 143,140
Goodwill impairment - 0 - 0 - 0 37,120 37,120 - 0 - 0 44,589 - 0 44,589 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Loss (Gain) on divestitures and sale of assets - 0 - 0 - 0 - 0 - 0 - 0 - 0 (21,748) (10,098) (31,846) - 0 - 0 - 0 - 0 - 0 (6,776) (674) 197,651 - 0 190,201 - 0 - 0 - 0 - 0 - 0
Impairment of long-lived assets - 0 - 0 - 0 5,349 5,349 - 0 671 - 0 - 0 671 - 0 - 0 - 0 - 0 - 0 - 0 - 0 919 79,030 79,949 - 0 - 0 1,237 - 0 1,237 - 0 - 0 26,566 440 27,006 - 0 - 0 - 0 - 0 - 0
Restructuring charges (recoveries), net - 0 - 0 - 0 1,781 1,781 - 0 494 12 - 0 506 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 9,697 9,697 181 963 (1,501) 69 (288) - 0 - 0 - 0 - 0 - 0 - 0 - 0 425 176 601
Loss (gain) on foreign exchange - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (573) 259 (1,594) (890) (2,798) 1,515 (500) (40) 47 1,022 (108) (2,295) 2,078 (523) (848) 720 (206) (1,927) (1,449) (2,862) 1,286 (3,354) 1,796 1,634 1,362 (481) (110) 1,563 1,564 2,536 (1,370) 945 (3,614) (2,579) (6,618) (8,752) 3,167 5,125 (2,100) (2,560) 4,967 (1,556) 2,905 (1,820) 4,496 4,453 7,183 3,917 (1,093) 14,460 (5,295) 2,118 1,688 (4,661) (6,150) 1,613 5,074 808 5,332 12,827 (19,565) 12,766 (11,302) 5,186 (12,915) (7,165) 2,826 (3,634) (7,147) (15,120) (5,810) 17,640 (541) (7,186) 4,103 (2,655) 1,306 (449) 442 (1,356) 1,675 3,244 1,148 (543) 5,524 2,411 3,098 1,504 2,341 9,354
Total operating expenses 4,974 5,804 6,999 9,511 27,288 8,279 10,213 8,891 11,275 38,658 11,860 14,174 12,333 11,737 50,104 13,836 13,058 13,075 15,242 55,211 15,216 14,750 19,386 16,705 66,057 19,568 20,584 21,227 20,354 81,733 23,507 18,465 25,952 27,915 95,839 25,995 30,047 33,040 32,669 121,751 31,495 35,478 31,501 34,286 132,760 25,805 41,260 43,742 39,027 149,834 44,391 42,696 50,705 50,135 187,927 55,786 65,154 64,333 60,526 245,799 62,262 72,584 71,321 70,696 276,863 80,596 89,147 78,713 123,960 372,416 58,080 89,240 111,379 81,638 340,337 75,149 88,276 83,888 81,202 328,515 78,678 100,669 57,262 149,304 385,913 71,512 75,628 77,196 85,389 309,725 78,436 84,146 307,435 76,392 546,409 87,985 93,469 91,150 95,755 368,359
Operating income (loss) 7,491 7,539 10,338 10,638 36,006 11,052 10,106 12,814 12,352 46,324 12,540 12,773 17,089 14,794 57,196 2,025 (1,286) 3,648 4,670 9,057 5,331 15,711 20,545 38,814 80,401 34,098 46,122 49,232 46,070 175,522 45,177 56,445 60,007 47,259 208,888 49,646 59,875 59,773 48,853 218,147 57,789 68,749 77,589 79,631 283,758 82,022 87,443 89,562 83,016 342,043 70,019 95,008 94,086 105,201 364,314 101,481 141,142 160,222 148,267 551,112 141,100 162,391 123,863 96,052 523,406 68,315 91,090 74,145 243 233,793 44,796 47,209 41,413 65,241 198,659 88,842 92,252 101,986 84,803 367,883 93,143 71,675 93,162 (88,480) 169,500 75,426 72,063 55,706 28,778 231,973 19,100 12,040 (253,346) 13,952 (208,254) 1,827 104 7,855 3,318 13,104
Other income (expense), net:
Interest income (expense), net (355) (354) (342) (442) (1,493) 396 117 198 (37) 674 (95) (183) (194) (305) (777) (390) (367) (266) (229) (1,252) (208) (191) (350) (439) (1,188) (206) (170) (209) (96) (681) (129) 615 55 (222) 319 (53) (35) 63 24 (1) (139) - 0 (4) 66 (77) (184) (112) (40) 34 (302) 192 270 373 469 1,304 308 468 (125) 86 737 311 729 3,884 4,132 9,056 3,952 4,051 3,734 2,501 14,238 3,073 1,856 1,168 173 6,270 (495) (407) (288) (649) (1,839) (70) 1,177 3,625 7,888 12,620 7,533 9,264 11,569 13,369 41,735 14,177 12,778 11,103 7,409 45,467 7,444 8,001 7,283 7,129 29,857
Other income (expense), net (1,854) (353) (2,006) (2,181) (6,394) 44 (8) 309 267 612 47 489 (103) (288) 145 (148) (36) (75) 223 (36) (66) (26) (322) 453 39 8 (618) 145 208 (257) (1,094) (92) 205 989 8 70 (239) 218 106 155 334 239 162 58 793 85 161 132 (503) (125) 7 141 194 606 948 (529) 23 459 69 22 443 386 423 681 1,933 (9) 658 (520) 216 345 191 449 (59) 182 763 253 28 (211) 367 437 (236) 618 301 548 1,231 331 285 545 6 1,167 325 194 (271) 651 899 1,344 166 516 109 2,135
Total other income (expense) (2,209) (707) (2,348) (2,623) (7,887) 440 109 507 230 1,286 (48) 306 (297) (593) (632) (538) (403) (341) (6) (1,288) (274) (217) (672) 14 (1,149) (198) (788) (64) 112 (938) (1,223) 523 260 767 327 17 (274) 281 130 154 195 239 158 124 716 (99) 49 92 (469) (427) 199 411 567 1,075 2,252 (221) 491 334 155 759 754 1,115 4,307 4,813 10,989 3,943 4,709 3,214 2,717 14,583 3,264 2,305 1,109 355 7,033 (242) (379) (499) (282) (1,402) (306) 1,795 3,926 8,436 13,851 7,864 9,549 12,114 13,375 42,902 14,502 12,972 10,832 8,060 46,366 8,788 8,167 7,799 7,238 31,992
Income (loss) before provision for income taxes 5,282 6,832 7,990 8,015 28,119 11,492 10,215 13,321 12,582 47,610 12,492 13,079 16,792 14,201 56,564 1,487 (1,689) 3,307 4,664 7,769 5,057 15,494 19,873 38,828 79,252 33,900 45,334 49,168 46,182 174,584 43,954 56,968 60,267 48,026 209,215 49,663 59,601 60,054 48,983 218,301 57,984 68,988 77,747 79,755 284,474 81,923 87,492 89,654 82,547 341,616 70,218 95,419 94,653 106,276 366,566 101,260 141,633 160,556 148,422 551,871 141,854 163,506 128,170 100,865 534,395 72,258 95,799 77,359 2,960 248,376 48,060 49,514 42,522 65,596 205,692 88,600 91,873 101,487 84,521 366,481 92,837 73,470 97,088 (80,044) 183,351 83,290 81,612 67,820 42,153 274,875 33,602 25,012 (242,514) 22,012 (161,888) 10,615 8,271 15,654 10,556 45,096
Provision for income taxes 1,927 1,939 2,731 (9,592) (2,995) 4,507 3,611 3,505 3,899 15,522 3,997 4,058 5,310 4,746 18,111 461 (524) 1,041 1,507 2,485 1,633 5,149 6,558 11,560 24,900 10,522 13,827 14,899 14,327 53,575 13,406 17,119 17,832 13,114 61,471 14,536 17,881 17,716 12,388 62,521 17,453 20,705 22,547 23,324 84,029 24,577 26,248 26,897 21,869 99,591 20,890 28,387 25,426 31,146 105,849 26,328 37,530 44,959 95,466 204,283 35,520 41,889 27,418 25,399 130,226 17,342 23,278 20,232 7,263 68,115 11,294 11,148 6,992 15,920 45,354 20,378 22,196 26,788 19,253 88,615 23,209 16,139 20,390 12,851 72,589 23,155 19,291 12,826 725 55,997 9,503 4,858 (8,920) 14,197 19,638 6,857 1,666 8,191 (2,714) 14,000
Net income (loss) 3,355 4,893 5,259 17,607 31,114 6,985 6,604 9,816 8,683 32,088 8,495 9,021 11,482 9,455 38,453 1,026 (1,165) 2,266 3,157 5,284 3,424 10,345 13,315 27,268 54,352 23,378 31,507 34,269 31,855 121,009 30,548 39,849 42,435 34,912 147,744 35,127 41,720 42,338 36,595 155,780 40,531 48,283 55,200 56,431 200,445 57,346 61,244 62,757 60,678 242,025 49,328 67,032 69,227 75,130 260,717 74,932 104,103 115,597 52,956 347,588 106,334 121,617 100,752 75,466 404,169 54,916 72,521 57,127 (4,303) 180,261 36,766 38,366 35,530 49,676 160,338 68,222 69,677 74,699 65,268 277,866 69,628 57,331 76,698 (92,895) 110,762 60,135 62,321 54,994 41,428 218,878 24,099 20,154 (233,594) 7,815 (181,526) 3,758 6,605 7,463 13,270 31,096
Less: net income (loss) attributable to noncontrolling interests 288 110 512 971 1,881 372 216 1,259 346 2,193 346 469 589 395 1,799 (245) 64 11 35 (135) 27 39 89 206 361 310 771 1,400 769 3,250 633 2,107 - 0 - 0 2,740 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (13) (55) (34) (26) (128) 2 (27) (8) (3) (36) (13) (13) - 0 - 0 (26) - 0 - 0 235 (93) 142 (243) 249 (126) 147 27 363 140 (74) 337 766 95 (123) (703) 181 (550) 56 363 434 - 0 853 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Preferred stock Accretion & Beneficial Conversion Feature 518 518 518 18,707 20,261 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Net income (loss) attributable to IPG Photonics Corporation $ 2,549 $ 4,265 $ 4,229 $ (2,071) $ 8,972 $ 6,613 $ 6,388 $ 8,557 $ 8,337 $ 29,895 $ 8,149 $ 8,552 $ 10,893 $ 9,060 $ 36,654 $ 1,271 $ (1,229) $ 2,255 $ 3,122 $ 5,419 $ 3,397 $ 10,306 $ 13,226 $ 27,062 $ 53,991 $ 23,068 $ 30,736 $ 32,869 $ 31,086 $ 117,759 $ 29,915 $ 37,742 $ 42,435 $ 34,912 $ 145,004 $ 35,127 $ 41,720 $ 42,338 $ 36,595 $ 155,780 $ 40,531 $ 48,283 $ 55,200 $ 56,431 $ 200,445 $ 57,359 $ 61,299 $ 62,791 $ 60,704 $ 242,153 $ 49,326 $ 67,059 $ 69,235 $ 75,133 $ 260,753 $ 74,945 $ 104,116 $ 115,597 $ 52,956 $ 347,614 $ 106,334 $ 121,617 $ 100,517 $ 75,559 $ 404,027 $ 55,159 $ 72,272 $ 57,253 $ (4,450) $ 180,234 $ 36,403 $ 38,226 $ 35,604 $ 49,339 $ 159,572 $ 68,127 $ 69,800 $ 75,402 $ 65,087 $ 278,416 $ 69,572 $ 56,968 $ 76,264 $ (92,895) $ 109,909 $ 60,135 $ 62,321 $ 54,994 $ 41,428 $ 218,878 $ 24,099 $ 20,154 $ (233,594) $ 7,815 $ (181,526) $ 3,758 $ 6,605 $ 7,463 $ 13,270 $ 31,096
Net income (loss) attributable to IPG Photonics Corporation per share:
Basic $ 0.07 $ 0.12 $ 0.12 $ (0.05) $ 0.24 $ 0.15 $ 0.15 $ 0.20 $ 0.19 $ 0.69 $ 0.18 $ 0.19 $ 0.24 $ 0.20 $ 0.82 $ 0.03 $ (0.03) $ 0.05 $ 0.07 $ 0.12 $ 0.07 $ 0.22 $ 0.28 $ 0.58 $ 1.16 $ 0.49 $ 0.65 $ 0.69 $ 0.65 $ 2.49 $ 0.62 $ 0.74 $ 0.83 $ 0.68 $ 2.87 $ 0.68 $ 0.81 $ 0.82 $ 0.71 $ 3.02 $ 0.78 $ 0.93 $ 1.06 $ 1.08 $ 3.85 $ 1.09 $ 1.16 $ 1.19 $ 1.15 $ 4.60 $ 0.93 $ 1.26 $ 1.30 $ 1.42 $ 4.91 $ 1.40 $ 1.95 $ 2.16 $ 0.99 $ 6.50 $ 1.98 $ 2.27 $ 1.88 $ 1.42 $ 7.55 $ 1.04 $ 1.36 $ 1.08 $ (0.08) $ 3.40 $ 0.69 $ 0.72 $ 0.67 $ 0.92 $ 3.00 $ 1.27 $ 1.31 $ 1.41 $ 1.22 $ 5.21 $ 1.32 $ 1.10 $ 1.48 $ (1.91) $ 2.17 $ 1.26 $ 1.32 $ 1.16 $ 0.89 $ 4.64 $ 0.52 $ 0.45 $ (5.33) $ 0.18 $ (4.09) $ 0.09 $ 0.16 $ 0.18 $ 0.32 $ 0.73
Diluted $ 0.07 $ 0.11 $ 0.11 $ (0.05) $ 0.23 $ 0.15 $ 0.14 $ 0.19 $ 0.18 $ 0.65 $ 0.18 $ 0.19 $ 0.23 $ 0.20 $ 0.79 $ 0.03 $ (0.03) $ 0.05 $ 0.07 $ 0.12 $ 0.07 $ 0.22 $ 0.28 $ 0.56 $ 1.13 $ 0.47 $ 0.63 $ 0.67 $ 0.64 $ 2.42 $ 0.60 $ 0.72 $ 0.81 $ 0.67 $ 2.81 $ 0.67 $ 0.80 $ 0.81 $ 0.70 $ 2.97 $ 0.77 $ 0.91 $ 1.05 $ 1.07 $ 3.79 $ 1.08 $ 1.15 $ 1.18 $ 1.14 $ 4.53 $ 0.92 $ 1.25 $ 1.29 $ 1.39 $ 4.85 $ 1.38 $ 1.91 $ 2.11 $ 0.96 $ 6.36 $ 1.93 $ 2.21 $ 1.84 $ 1.40 $ 7.38 $ 1.02 $ 1.34 $ 1.07 $ (0.08) $ 3.35 $ 0.68 $ 0.71 $ 0.66 $ 0.92 $ 2.97 $ 1.26 $ 1.29 $ 1.40 $ 1.21 $ 5.16 $ 1.31 $ 1.10 $ 1.47 $ (1.91) $ 2.16 $ 1.26 $ 1.31 $ 1.16 $ 0.89 $ 4.63 $ 0.52 $ 0.45 $ (5.33) $ 0.18 $ (4.09) $ 0.09 $ 0.16 $ 0.18 $ 0.31 $ 0.73
Weighted average shares outstanding:
Basic 36,066 36,370 36,600 37,877 36,734 42,909 42,974 43,362 43,820 43,269 44,095 44,355 44,685 44,886 44,507 45,094 45,431 45,573 45,849 45,489 46,098 46,220 46,533 46,835 46,424 47,099 47,310 47,483 47,564 47,365 48,446 50,989 51,090 51,110 50,477 51,407 51,462 51,495 51,660 51,548 51,970 52,068 52,088 52,153 52,104 52,486 52,657 52,675 52,714 52,676 52,898 53,065 53,071 53,097 53,068 53,368 53,380 53,440 53,460 53,495 53,694 53,662 53,571 53,243 53,522 53,001 53,042 52,928 52,916 53,061 53,075 53,040 53,098 53,187 53,186 53,541 53,472 53,387 53,222 53,410 52,810 51,687 51,629 48,720 50,761 47,542 47,316 47,237 46,533 47,154 45,960 44,918 43,837 42,652 44,336 42,605 42,481 42,199 42,101 42,345
Diluted 38,164 38,663 39,257 40,234 39,091 45,602 45,631 45,731 46,021 45,749 46,041 46,132 46,375 46,337 46,223 46,152 45,431 46,695 47,006 46,595 47,191 47,333 47,700 48,141 47,594 48,690 48,610 48,747 48,685 48,685 49,582 52,071 52,102 52,116 51,536 52,350 52,385 52,367 52,487 52,375 52,724 52,769 52,792 52,873 52,824 53,267 53,442 53,392 53,434 53,427 53,621 53,788 53,761 53,873 53,797 54,370 54,471 54,698 54,923 54,699 55,182 54,992 54,696 54,107 54,726 53,874 53,848 53,622 52,916 53,839 53,676 53,530 53,664 53,865 53,785 54,201 53,999 53,834 53,626 53,930 53,100 51,795 51,737 48,720 50,925 47,776 47,453 47,388 46,656 47,320 46,175 45,012 43,837 42,781 44,336 42,832 42,577 42,556 42,620 42,650
Gross margin 38.1% 41.5% 47.9% 47.9% 44.2% 46.3% 46.2% 45.3% 42.9% 45.0% 46.1% 48.1% 47.4% 45.6% 46.8% 34.9% 29.1% 36.5% 36.7% 34.6% 40.1% 45.3% 50.0% 55.0% 48.9% 53.7% 54.7% 54.6% 53.8% 54.2% 55.8% 54.3% 55.0% 51.8% 54.2% 53.3% 53.5% 53.9% 49.2% 52.5% 52.3% 54.2% 54.6% 54.9% 54.1% 54.2% 54.7% 54.7% 54.6% 54.6% 55.2% 54.5% 54.4% 55.5% 54.9% 55.0% 55.9% 57.2% 57.8% 56.6% 56.5% 56.8% 54.8% 50.5% 54.8% 47.3% 49.5% 46.4% 40.5% 46.1% 41.3% 46.0% 48.0% 43.6% 44.9% 47.5% 48.6% 49.0% 45.5% 47.7% 46.4% 45.7% 43.1% 18.2% 38.9% 42.3% 43.4% 44.1% 38.2% 42.1% 38.7% 37.3% 23.2% 38.6% 34.6% 39.4% 37.3% 39.5% 36.1% 38.0%
Operating margin 22.9% 23.4% 28.6% 25.3% 25.1% 26.5% 23.0% 26.7% 22.4% 24.6% 23.7% 22.8% 27.6% 25.4% 25.0% 4.5% -3.2% 8.0% 8.6% 4.9% 10.4% 23.4% 25.7% 38.4% 26.9% 34.1% 37.8% 38.1% 37.3% 37.0% 36.7% 40.9% 38.4% 32.6% 37.1% 35.0% 35.6% 34.7% 29.5% 33.7% 33.9% 35.8% 38.9% 38.4% 36.9% 41.2% 37.2% 36.8% 37.1% 38.0% 33.8% 37.6% 35.4% 37.6% 36.2% 35.5% 38.2% 40.8% 41.1% 39.1% 39.2% 39.3% 34.8% 29.1% 35.9% 21.7% 25.0% 22.5% 0.1% 17.8% 18.0% 15.9% 13.0% 19.4% 16.5% 25.7% 24.8% 26.9% 23.3% 25.2% 25.2% 19.0% 26.7% -26.5% 11.9% 21.7% 21.2% 18.5% 9.6% 18.0% 7.6% 4.7% -108.7% 6.0% -21.3% 0.8% 0.0% 3.1% 1.2% 1.3%
S&M % of total revenue 3.3% 3.9% 4.9% 5.0% 4.3% 4.6% 6.5% 5.2% 5.2% 5.4% 6.0% 6.6% 6.0% 5.7% 6.1% 7.0% 9.6% 8.3% 7.9% 8.2% 8.5% 7.3% 5.7% 5.3% 6.4% 5.0% 4.8% 4.4% 4.3% 4.6% 4.2% 4.2% 3.7% 4.9% 4.2% 4.1% 4.1% 4.0% 4.3% 4.1% 4.2% 4.2% 3.8% 3.8% 4.0% 3.8% 3.4% 3.2% 3.9% 3.5% 3.9% 3.8% 3.9% 3.6% 3.8% 3.8% 3.3% 3.4% 3.7% 3.5% 3.8% 3.5% 3.8% 4.9% 4.0% 6.1% 5.7% 5.8% 6.1% 5.9% 7.5% 5.8% 5.4% 5.1% 5.9% 5.5% 5.2% 5.5% 5.3% 5.4% 5.5% 5.0% 5.6% 5.4% 5.4% 6.1% 5.9% 7.4% 7.4% 6.7% 9.1% 8.7% 9.5% 9.3% 9.2% 10.7% 10.2% 9.5% 8.8% 9.7%
R&D % of total revenue 3.8% 4.3% 4.7% 5.3% 4.6% 5.1% 5.4% 4.9% 4.8% 5.0% 5.4% 7.9% 6.7% 7.5% 6.9% 9.1% 11.7% 10.0% 9.4% 10.0% 8.1% 7.0% 6.2% 5.2% 6.4% 5.7% 5.4% 5.0% 5.3% 5.4% 5.8% 5.2% 5.0% 6.4% 5.6% 6.2% 6.2% 6.7% 6.6% 6.4% 7.5% 7.0% 6.7% 6.7% 6.9% 7.2% 6.4% 6.7% 7.9% 7.0% 8.4% 7.3% 7.7% 7.9% 7.8% 8.0% 7.0% 6.5% 7.4% 7.2% 7.9% 7.7% 8.7% 9.5% 8.4% 10.3% 9.6% 9.8% 9.9% 9.9% 12.8% 10.7% 10.0% 9.4% 10.6% 9.6% 9.5% 9.0% 10.1% 9.6% 9.0% 8.1% 7.3% 8.0% 8.1% 6.6% 6.9% 8.2% 9.3% 7.7% 11.7% 10.7% 11.7% 11.0% 11.2% 12.4% 11.9% 12.1% 10.5% 11.7%
G&A % of total revenue 8.1% 9.8% 9.8% 12.3% 10.1% 10.2% 11.4% 8.5% 10.4% 10.1% 12.1% 10.3% 9.8% 8.5% 10.1% 11.0% 12.2% 10.4% 10.7% 11.0% 13.3% 11.0% 9.8% 6.6% 9.6% 8.2% 6.8% 8.5% 8.0% 7.9% 8.1% 6.3% 6.8% 6.9% 7.0% 8.3% 7.6% 7.7% 7.9% 7.8% 7.6% 6.8% 7.1% 7.3% 7.2% 6.4% 6.4% 6.0% 6.6% 6.3% 6.7% 6.4% 6.3% 7.0% 6.6% 6.2% 5.4% 5.5% 6.0% 5.7% 7.1% 5.8% 7.1% 8.4% 7.0% 8.6% 7.8% 8.1% 8.2% 8.2% 10.9% 8.9% 9.1% 8.2% 9.2% 8.7% 8.4% 8.6% 8.8% 8.6% 8.3% 8.9% 9.7% 10.0% 9.2% 8.7% 8.7% 10.3% 11.7% 9.8% 12.4% 12.3% 14.0% 12.3% 12.7% 14.4% 13.9% 14.0% 14.7% 14.3%
Tax rate 36.5% 28.4% 34.2% -119.7% -10.7% 39.2% 35.3% 26.3% 31.0% 32.6% 32.0% 31.0% 31.6% 33.4% 32.0% 31.0% 31.0% 31.5% 32.3% 32.0% 32.3% 33.2% 33.0% 29.8% 31.4% 31.0% 30.5% 30.3% 31.0% 30.7% 30.5% 30.1% 29.6% 27.3% 29.4% 29.3% 30.0% 29.5% 25.3% 28.6% 30.1% 30.0% 29.0% 29.2% 29.5% 30.0% 30.0% 30.0% 26.5% 29.2% 29.8% 29.7% 26.9% 29.3% 28.9% 26.0% 26.5% 28.0% 64.3% 37.0% 25.0% 25.6% 21.4% 25.2% 24.4% 24.0% 24.3% 26.2% 245.4% 27.4% 23.5% 22.5% 16.4% 24.3% 22.0% 23.0% 24.2% 26.4% 22.8% 24.2% 25.0% 22.0% 21.0% -16.1% 39.6% 27.8% 23.6% 18.9% 1.7% 20.4% 28.3% 19.4% 3.7% 64.5% -12.1% 64.6% 20.1% 52.3% -25.7% 31.0%
Net margin 7.8% 13.3% 11.7% -4.9% 6.3% 15.8% 14.5% 17.9% 15.1% 15.8% 15.4% 15.3% 17.6% 15.6% 16.0% 2.8% -3.0% 4.9% 5.8% 2.9% 6.6% 15.3% 16.6% 26.8% 18.0% 23.1% 25.2% 25.5% 25.2% 24.8% 24.3% 27.4% 27.1% 24.1% 25.8% 24.8% 24.8% 24.6% 22.1% 24.0% 23.8% 25.1% 27.6% 27.2% 26.0% 28.8% 26.1% 25.8% 27.1% 26.9% 23.8% 26.5% 26.0% 26.8% 25.9% 26.2% 28.2% 29.4% 14.7% 24.7% 29.5% 29.4% 28.2% 22.9% 27.7% 17.5% 19.9% 17.4% -1.5% 13.7% 14.6% 12.9% 11.2% 14.7% 13.3% 19.7% 18.8% 19.9% 17.9% 19.1% 18.8% 15.1% 21.9% -27.9% 7.7% 17.3% 18.3% 18.2% 13.9% 17.0% 9.6% 7.8% -100.2% 3.3% -18.6% 1.6% 2.6% 3.0% 4.8% 3.1%
NOPAT
ADJUSTED OPERATING INCOME (LOSS)(1) 11,052 10,106 12,814 12,352 46,324 11,967 13,032 15,495 13,904 54,398 3,540 (1,786) 3,608 4,717 10,079 5,223 13,416 22,623 38,291 79,553 34,818 45,916 47,305 44,621 172,660 46,463 53,091 61,803 48,893 210,250 49,165 59,765 61,336 50,417 220,683 56,419 69,694 73,975 77,052 277,140 73,270 90,610 94,687 80,916 339,483 74,986 93,452 96,991 103,381 368,810 105,934 148,325 164,139 147,174 565,572 135,805 164,509 125,551 91,391 517,256 69,928 96,164 74,953 5,575 246,620 25,231 59,975 30,111 70,427 185,744 81,677 95,078 98,352 77,656 352,763 87,333 89,315 71,792 57,018 305,458 72,952 74,332 54,993 29,289 231,566 15,424 16,661 3,281 15,851 51,217 7,731 6,864 12,432 16,346 43,373
PROVISION (BENEFIT) FOR INCOME TAXES USING ADJUSTED TAX RATE 4,334 3,572 3,372 3,310 14,589 3,829 4,043 4,900 3,726 16,499 1,097 (554) 1,136 1,264 2,943 1,687 4,458 7,465 10,262 23,873 10,807 14,005 14,334 11,958 51,104 14,171 15,954 18,286 13,103 61,515 14,390 17,930 18,094 13,512 63,926 16,982 20,917 21,453 20,650 80,002 21,981 27,183 28,407 21,685 99,257 22,308 27,802 26,054 27,706 103,870 27,543 39,303 45,962 39,443 152,251 34,005 42,146 26,858 24,493 127,502 16,783 23,367 19,603 1,494 61,246 5,929 13,503 4,951 17,092 41,476 18,786 22,970 25,961 17,689 85,406 21,833 19,620 15,077 12,992 69,522 20,281 17,570 10,400 504 48,755 3,488 3,332 33 7,291 12,804 1,587 961 3,357 2,615 8,675
TOTAL 6,718 6,534 9,442 9,042 31,735 8,138 8,989 10,595 10,178 37,899 2,443 (1,232) 2,472 3,453 7,136 3,536 8,958 15,158 28,029 55,680 24,011 31,911 32,971 32,663 121,556 32,292 37,137 43,517 35,790 148,735 34,775 41,835 43,242 36,905 156,757 39,437 48,777 52,522 56,402 197,138 51,289 63,427 66,280 59,231 240,226 52,678 65,650 70,937 75,675 264,940 78,391 109,022 118,177 107,731 413,321 101,800 122,363 98,693 66,898 389,754 53,145 72,797 55,350 4,081 185,374 19,302 46,472 25,160 53,335 144,268 62,891 72,108 72,391 59,967 267,357 65,500 69,695 56,715 44,026 235,936 52,671 56,762 44,593 28,785 182,811 11,936 13,329 3,248 8,560 38,413 6,144 5,903 9,075 13,731 34,698
Adjusted Net Income 6,613 6,388 8,557 8,864 30,422 7,759 8,731 9,803 9,349 35,642 2,316 (1,574) 2,228 3,413 6,383 3,324 8,774 14,618 27,833 54,549 23,565 30,593 31,526 31,976 117,659 30,809 35,396 43,700 36,351 146,255 34,787 41,643 43,440 37,000 156,870 39,573 48,944 52,634 56,493 197,645 51,233 63,516 66,378 58,913 240,040 52,815 65,966 71,360 76,465 266,606 78,240 109,396 118,417 107,845 413,898 102,365 123,192 101,844 70,514 397,915 56,385 76,113 57,850 5,923 196,270 21,436 48,118 26,160 53,266 148,980 62,610 71,943 72,727 59,568 266,848 65,214 70,733 59,382 52,721 248,050 58,349 64,054 54,416 41,930 218,749 23,159 23,615 13,992 12,878 73,644 13,128 12,930 14,841 19,715 60,614
Return on equity 16.6% 15.9% 2.6% 19.0% 30.9% 24.7% 18.8% 20.0% 20.8% 18.9% 23.1% 18.8% 8.5% 6.0% 10.0% 9.7% 9.1% 3.3% 2.9%
Return on invested capital 14.5% 14.6% 2.5% 17.2% 27.6% 23.3% 18.4% 19.5% 20.3% 18.4% 22.5% 18.0% 7.9% 5.7% 9.9% 9.1% 7.6% 1.7% 1.7%
Return on invested capital, excluding cash 20.0% 18.0% 3.3% 26.8% 46.1% 43.2% 35.8% 37.3% 41.7% 39.0% 48.0% 36.1% 15.0% 11.5% 21.3% 18.9% 14.9% 3.3% 2.9%
Adjusted EBITDA(1) 40,270 39,367 27,878 37,288 144,776 32,681 31,549 36,958 41,230 142,418
Adjusted EPS(1) 0.50 0.52 0.32 0.30 1.66 0.31 0.30 0.35 0.46 1.42
Adjusted Gross Margin(1) 38.9% 37.5% 36.2% 38.8% 37.9% 40.0% 37.8% 39.8% 37.6% 38.7%
Adjusted Tax Rate(1) 22.6% 20.0% 1.0% 46.0% 25.0% 20.5% 14.0% 27.0% 16.0% 20.0%
(1) Refer to Press Release and Investor Presentation for reconciliation of US GAAP to non-GAAP adjustments

&G

Balance Sheet

IPG Photonics Corporation FY'06 FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'25
Consolidated Balance Sheets
(unaudited, in thousands) Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended
31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec
ASSETS
Current assets:
Cash and cash equivalents $ 11,282 $ 11,357 $ 75,667 $ 75,667 $ 49,129 $ 46,709 $ 44,750 $ 37,972 $ 37,972 $ 38,698 $ 44,926 $ 44,339 $ 51,283 $ 51,283 $ 71,601 $ 78,068 $ 76,309 $ 82,920 $ 82,920 $ 84,407 $ 90,655 $ 96,630 $ 147,860 $ 147,860 $ 160,618 $ 188,196 $ 196,586 $ 180,234 $ 180,234 $ 377,071 $ 345,578 $ 372,569 $ 384,053 $ 384,053 $ 355,715 $ 369,484 $ 398,355 $ 448,776 $ 448,776 $ 480,609 $ 483,432 $ 487,518 $ 522,150 $ 522,150 $ 541,474 $ 571,508 $ 651,220 $ 582,532 $ 582,532 $ 613,692 $ 587,286 $ 645,558 $ 623,855 $ 623,855 $ 697,778 $ 808,111 $ 880,267 $ 909,900 $ 909,900 $ 969,123 $ 816,792 $ 647,606 $ 544,358 $ 544,358 $ 548,938 $ 530,013 $ 580,329 $ 680,070 $ 680,070 $ 570,058 $ 747,859 $ 763,920 $ 876,231 $ 876,231 $ 896,741 $ 754,199 $ 794,904 $ 709,105 $ 709,105 $ 642,517 $ 771,788 $ 869,274 $ 698,209 $ 698,209 $ 521,137 $ 573,071 $ 528,284 $ 514,674 $ 514,674 $ 496,452 $ 720,540 $ 883,871 $ 620,040 $ 620,040 $ 363,046 $ 359,184 $ 346,026 $ 403,790 $ 403,790
Short-term investments - 0 - 0 - 0 - 0 - 0 - 0 - 0 6,950 6,950 1,000 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 25,451 25,451 18,451 9,765 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 106,584 106,584 126,273 126,794 126,970 206,779 206,779 165,025 122,304 165,655 206,257 206,257 206,786 308,970 474,422 500,432 500,432 481,139 512,816 498,508 502,546 502,546 625,085 501,040 537,696 514,835 514,835 548,196 743,210 724,103 805,400 805,400 774,161 462,865 365,409 479,374 479,374 548,473 523,341 605,207 662,807 662,807 643,655 343,363 135,444 310,152 310,152 563,832 540,414 524,359 435,538 435,538
Accounts receivable, net 18,131 22,459 22,353 22,353 24,413 26,726 33,277 33,946 33,946 37,269 37,747 39,503 41,842 41,842 29,740 32,006 29,768 30,356 30,356 30,078 39,907 53,720 55,399 55,399 57,970 73,284 80,361 75,755 75,755 88,426 86,132 110,649 96,630 96,630 102,793 114,498 120,640 103,803 103,803 107,598 124,144 136,629 143,109 143,109 149,781 169,828 154,814 150,479 150,479 146,505 151,476 162,725 155,901 155,901 180,226 237,332 226,756 237,278 237,278 235,477 242,128 251,613 255,509 255,509 231,850 273,697 252,926 238,479 238,479 200,646 203,568 240,352 264,321 264,321 252,877 250,669 272,699 262,121 262,121 257,464 246,877 195,194 211,347 211,347 236,575 231,125 229,597 219,053 219,053 184,012 176,153 163,541 171,131 171,131 176,909 201,038 166,384 181,734 181,734
Inventories 34,759 40,367 42,162 42,162 45,167 52,691 58,850 60,412 60,412 69,630 76,574 72,797 72,555 72,555 66,445 62,085 59,155 52,869 52,869 52,135 54,029 64,898 72,470 72,470 88,698 109,273 117,276 116,978 116,978 123,430 121,979 135,121 139,618 139,618 142,096 154,093 171,268 172,700 172,700 170,556 178,925 179,476 171,009 171,009 174,140 190,848 197,635 203,738 203,738 226,907 241,282 242,370 239,010 239,010 261,893 260,661 282,495 307,712 307,712 356,375 376,019 397,409 403,579 403,579 417,817 425,996 417,163 380,790 380,790 363,383 367,166 370,344 364,993 364,993 368,149 404,547 435,070 460,747 460,747 484,971 556,747 555,537 509,363 509,363 506,149 491,301 479,829 453,874 453,874 431,899 400,839 320,723 284,780 284,780 287,623 303,841 323,934 313,416 313,416
Components and raw materials 14,637 15,498 19,244 19,244 18,939 21,964 23,282 25,363 25,363 25,876 28,488 27,438 27,482 27,482 25,073 22,447 19,458 17,801 17,801 17,092 17,605 22,261 25,126 25,126 29,772 38,963 42,428 41,107 41,107 42,380 44,053 48,744 53,436 53,436 53,603 58,578 56,738 54,539 54,539 48,513 54,376 58,172 54,925 54,925 54,004 66,618 71,297 70,394 70,394 81,922 89,686 99,251 93,284 93,284 106,829 116,399 131,920 145,261 145,261 181,928 227,876 240,635 233,594 233,594 247,603 243,768 235,276 200,390 200,390 195,170 191,612 193,765 190,775 190,775 190,376 224,486 247,929 270,146 270,146 288,752 350,015 384,471 322,506 322,506 308,357 295,166 279,309 263,652 263,652 249,123 226,305 170,905 150,257 150,257 150,651 153,341 156,637 155,337 155,337
Work in-process 8,872 11,983 12,886 12,886 14,540 18,827 23,630 25,831 25,831 31,456 31,958 29,489 28,653 28,653 26,719 23,704 23,409 21,375 21,375 22,089 21,240 23,008 24,392 24,392 30,666 36,929 39,300 40,380 40,380 45,614 40,586 43,002 46,240 46,240 50,394 50,412 60,391 64,927 64,927 64,385 67,886 63,823 58,603 58,603 52,016 46,387 35,272 43,259 43,259 39,648 35,353 29,316 44,723 44,723 24,666 26,755 35,097 43,646 43,646 35,942 35,411 40,763 66,498 66,498 55,698 40,661 49,744 49,620 49,620 28,728 39,630 46,714 47,251 47,251 38,066 32,449 33,335 32,506 32,506 36,806 43,780 49,630 18,911 18,911 39,603 58,546 62,414 47,997 47,997 43,380 44,051 30,013 28,973 28,973 33,247 38,510 44,116 44,507 44,507
Finished goods 11,250 12,886 10,032 10,032 11,688 11,900 11,938 9,218 9,218 12,298 16,128 15,870 16,420 16,420 14,653 15,934 16,288 13,693 13,693 12,954 15,184 19,629 22,952 22,952 28,260 33,381 35,548 35,491 35,491 35,436 37,340 43,375 39,942 39,942 38,099 45,103 54,139 53,234 53,234 57,658 56,663 57,481 57,481 57,481 68,120 77,843 91,066 90,085 90,085 105,337 116,243 113,803 101,003 101,003 130,398 117,507 115,478 118,805 118,805 138,505 112,732 116,011 103,487 103,487 114,516 141,567 132,143 130,780 130,780 139,485 135,924 129,865 126,967 126,967 139,707 147,612 153,806 158,095 158,095 159,413 162,952 121,436 167,946 167,946 158,189 137,589 138,106 142,225 142,225 139,396 130,483 119,805 105,550 105,550 103,725 111,990 123,181 113,572 113,572
Prepaid income taxes - 0 - 0 80 80 - 0 5,881 7,663 3,145 3,145 2,252 935 1,015 1,968 1,968 1,585 1,995 975 2,558 2,558 3,193 2,960 5,199 2,663 2,663 2,376 4,419 14,494 13,285 13,285 14,434 13,946 13,968 13,071 13,071 14,397 16,146 17,326 15,996 15,996 17,977 19,706 20,940 20,967 20,967 25,712 27,822 32,571 33,692 33,692 37,159 32,890 35,342 34,128 34,128 41,959 37,912 40,639 44,944 44,944 42,430 40,215 61,222 43,782 43,782 50,961 49,885 50,693 38,873 38,873 50,840 62,778 60,436 69,893 69,893 70,421 64,810 34,482 36,990 36,990 40,888 52,912 49,496 40,934 40,934 47,054 50,748 32,538 26,038 26,038 24,530 30,208 27,115 17,592 17,592 16,955 28,813 27,847 43,196 43,196
Prepaid expenses and other current assets 4,141 4,324 6,586 6,586 9,182 7,914 9,449 7,071 7,071 9,308 7,759 9,228 7,200 7,200 6,265 6,138 6,581 4,653 4,653 6,095 7,191 10,792 13,816 13,816 17,834 17,179 13,532 11,855 11,855 14,251 14,516 18,296 18,639 18,639 23,265 25,942 30,072 30,836 30,836 33,118 32,634 23,464 21,295 21,295 23,785 24,241 23,221 25,564 25,564 24,577 33,042 38,913 41,289 41,289 44,133 44,454 46,727 47,919 47,919 54,695 51,911 50,013 57,764 57,764 61,389 70,675 65,896 55,876 55,876 64,514 68,115 58,905 57,804 57,804 65,877 73,157 63,917 73,320 73,320 82,833 79,662 84,177 47,047 47,047 56,199 54,482 45,005 38,208 38,208 49,071 46,849 39,720 27,300 27,300 35,022 40,866 45,963 45,766 45,766
Total Current Assets 68,313 78,507 146,848 146,848 127,891 139,921 153,989 149,496 149,496 158,157 167,941 166,882 174,848 174,848 175,636 180,292 172,788 173,356 173,356 175,908 194,742 231,239 292,208 292,208 327,496 392,351 422,249 423,558 423,558 636,063 591,916 650,603 652,011 652,011 638,266 680,163 737,661 772,111 772,111 809,858 838,841 848,027 878,530 878,530 914,892 984,247 1,059,461 1,102,589 1,102,589 1,175,113 1,172,770 1,251,878 1,300,962 1,300,962 1,391,014 1,510,774 1,642,539 1,754,010 1,754,010 1,864,886 1,836,035 1,882,285 1,805,424 1,805,424 1,792,094 1,863,082 1,865,515 1,896,634 1,896,634 1,874,526 1,950,526 2,031,653 2,148,077 2,148,077 2,202,261 2,290,592 2,325,175 2,347,683 2,347,683 2,282,834 2,170,851 2,119,087 1,986,274 1,986,274 1,915,587 1,924,068 1,920,460 1,914,654 1,914,654 1,829,619 1,717,952 1,570,414 1,430,995 1,430,995 1,443,387 1,474,156 1,434,513 1,423,440 1,423,440
Long-term investments - 0 - 0 - 0 30,166 76,533 76,533
Deferred income taxes, net 168 174 13,392 13,392 12,853 12,223 7,501 8,990 8,990 9,770 10,719 9,684 8,575 8,575 10,807 12,547 15,352 11,871 11,871 13,801 15,463 14,391 13,082 13,082 13,799 11,716 14,126 15,729 15,729 16,936 17,701 14,922 15,055 15,055 13,449 14,824 17,647 19,031 19,031 21,289 23,390 24,901 20,746 20,746 22,004 25,618 27,848 29,732 29,732 34,415 37,915 39,991 42,442 42,442 47,048 47,843 40,547 26,976 26,976 24,940 27,818 19,995 19,165 19,165 17,438 20,833 23,415 31,395 31,395 32,801 30,544 38,616 43,197 43,197 41,276 45,751 49,008 47,761 47,761 49,942 60,563 69,323 75,152 75,152 59,089 69,644 79,583 88,788 88,788 84,452 88,865 106,254 115,031 115,031 109,232 114,268 119,552 123,889 123,889
Goodwill - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 3,113 2,898 2,898 3,258 455 455 455 455 455 455 455 455 455 519 516 508 505 505 502 20,461 20,142 19,828 19,828 19,831 28,728 51,143 55,831 55,831 55,705 59,616 56,769 100,722 100,722 110,349 110,868 109,954 82,092 82,092 81,627 81,911 37,731 41,366 41,366 38,764 39,000 38,705 38,609 38,609 39,741 39,285 37,963 38,325 38,325 38,388 38,494 38,265 38,540 38,540 38,351 38,278 38,484 67,241 67,241 68,617 71,763 71,650 71,735 71,735
Intangible assets, net - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 7,131 7,131 8,104 7,736 6,954 6,157 6,157 5,727 4,946 7,875 7,510 7,510 11,412 10,956 10,131 9,564 9,564 9,018 8,472 9,847 9,227 9,227 14,913 14,013 12,744 11,904 11,904 11,066 29,396 28,372 28,789 28,789 27,892 32,294 49,669 51,223 51,223 49,284 47,249 45,844 87,139 87,139 93,280 89,906 85,561 74,271 74,271 70,832 67,995 64,999 62,114 62,114 61,768 59,070 55,786 52,678 52,678 50,017 46,866 36,171 34,120 34,120 32,104 30,086 28,056 26,234 26,234 24,802 23,423 22,054 55,376 55,376 54,297 54,653 52,226 49,933 49,933
Property, plant and equipment, net 57,545 61,232 67,153 67,153 73,826 81,483 89,811 96,369 96,369 107,010 111,207 112,479 114,492 114,492 112,865 115,258 114,957 111,453 111,453 109,639 106,106 111,847 120,683 120,683 131,300 141,902 143,339 155,202 155,202 169,876 177,441 195,153 210,563 210,563 218,995 225,195 236,507 252,245 252,245 249,361 268,122 271,286 275,082 275,082 274,145 288,553 286,514 288,604 288,604 309,206 350,432 367,474 379,375 379,375 395,858 389,853 441,494 460,206 460,206 479,058 514,767 529,163 543,068 543,068 570,756 600,977 596,138 600,852 600,852 580,980 585,644 576,398 597,527 597,527 600,911 612,420 624,576 635,302 635,302 625,366 680,321 661,510 580,561 580,561 594,273 609,344 581,970 602,257 602,257 585,751 593,136 589,559 588,375 588,375 603,271 621,352 622,122 637,516 637,516
Other assets 7,702 1,488 5,099 5,099 5,854 6,498 6,911 8,466 8,466 12,818 13,164 14,872 15,303 15,303 14,497 15,004 15,842 15,956 15,956 15,859 17,413 16,499 8,751 8,751 8,868 7,676 9,656 7,486 7,486 6,303 6,010 6,719 7,461 7,461 6,878 7,662 7,395 7,810 7,810 7,032 19,106 30,872 26,847 26,847 22,787 21,594 21,131 20,095 20,095 19,798 18,333 19,441 18,603 18,603 20,930 21,050 20,673 19,009 19,009 24,134 44,993 28,043 18,932 18,932 44,819 51,750 50,321 45,192 45,192 39,368 42,116 45,535 43,419 43,419 37,971 39,679 50,660 48,507 48,507 50,569 50,883 38,466 28,848 28,848 31,715 24,781 24,530 28,425 28,425 35,461 33,777 28,365 32,246 32,246 38,544 43,256 50,734 41,234 41,234
Total assets 133,728 141,401 232,492 232,492 220,424 240,125 258,212 263,321 263,321 287,755 303,031 303,917 313,218 313,218 313,805 323,101 318,939 312,636 312,636 315,207 333,724 373,976 441,855 441,855 489,567 561,381 596,324 608,132 608,132 834,905 798,014 878,385 895,498 895,498 892,258 939,255 1,009,796 1,061,216 1,061,216 1,097,013 1,158,386 1,185,388 1,210,887 1,210,887 1,249,260 1,334,541 1,408,206 1,453,429 1,453,429 1,550,100 1,629,307 1,727,298 1,789,999 1,789,999 1,902,573 2,030,542 2,246,065 2,367,255 2,367,255 2,498,007 2,530,478 2,562,099 2,574,450 2,574,450 2,628,736 2,737,416 2,730,904 2,730,436 2,730,436 2,680,134 2,758,736 2,794,932 2,935,700 2,935,700 2,982,951 3,086,512 3,143,910 3,170,540 3,170,540 3,098,469 3,048,769 2,962,520 2,743,280 2,743,280 2,671,156 2,696,417 2,672,864 2,698,898 2,698,898 2,598,436 2,495,431 2,355,130 2,289,264 2,289,264 2,317,348 2,379,448 2,380,963 2,424,280 2,424,280
LIABILITIES AND EQUITY
Current liabilities:
Revolving line-of-credit facilities 11,011 7,886 2,603 2,603 848 10,732 15,566 11,218 11,218 15,336 19,850 16,001 19,769 19,769 29,760 31,401 15,476 6,007 6,007 7,098 6,300 4,634 6,841 6,841 6,587 7,205 7,731 7,057 7,057 9,652 4,037 4,900 2,442 2,442 9,802 1,822 1,547 3,296 3,296 2,300 2,724 2,276 2,631 2,631 523 1,600 248 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Current portion of long-term debt 15,301 10,025 8,299 8,299 - 0 - 0 - 0 - 0 - 0 - 0 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,531 1,586 1,546 1,613 1,613 1,575 1,580 1,572 1,505 1,505 1,529 1,333 1,333 1,333 1,333 1,333 12,000 11,667 13,333 13,333 13,000 2,000 2,000 2,000 2,000 2,000 3,188 3,188 3,188 3,188 3,188 1,188 3,576 3,604 3,604 3,604 3,637 3,654 3,671 3,671 3,688 3,705 3,722 3,740 3,740 3,757 3,775 3,792 3,810 3,810 3,828 3,846 18,788 18,126 18,126 17,459 32,225 16,328 16,031 16,031 15,734 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Accounts payable 6,231 6,951 7,640 7,640 8,640 10,788 9,204 9,444 9,444 11,364 9,613 10,031 7,739 7,739 5,029 6,065 4,624 5,620 5,620 5,824 10,427 10,663 9,510 9,510 12,526 14,884 15,241 11,122 11,122 13,488 13,200 14,291 17,783 17,783 14,575 18,525 14,293 18,787 18,787 18,620 15,059 18,969 17,141 17,141 15,916 21,537 20,862 26,314 26,314 20,277 20,414 17,899 28,048 28,048 25,388 28,996 34,271 35,109 35,109 33,369 42,989 29,494 36,303 36,303 39,970 38,016 30,466 27,329 27,329 39,648 42,261 37,375 25,748 25,748 44,704 50,714 52,428 55,839 55,839 46,481 57,276 55,072 46,233 46,233 40,902 37,418 33,126 28,618 28,618 26,675 26,232 39,578 35,385 35,385 37,923 41,522 40,225 39,288 39,288
Accrued compensation - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 21,453 21,453 12,980 16,819 20,811 21,972 21,972 17,746 22,725 24,863 25,727 25,727 21,815 26,956 29,626 31,673 31,673 22,421 26,872 32,975 33,617 33,617 26,437 30,657 39,164 43,761 43,761 37,607 43,352 60,544 63,203 63,203 53,496 53,855 57,037 60,107 60,107 51,882 55,238 57,939 48,881 48,881 45,679 53,533 57,265 62,785 62,785 53,690 68,858 81,078 94,857 94,857 62,287 75,212 73,324 78,251 78,251 60,311 64,369 64,060 67,053 67,053 55,322 60,722 55,814 56,568 56,568 53,873 73,259 79,008 81,943 81,943
Customer deposits and deferred revenue - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 15,317 15,317 17,496 18,623 21,709 17,174 17,174 18,608 16,641 19,929 18,489 18,489 26,961 21,213 21,504 16,605 16,605 22,703 22,435 23,652 21,525 21,525 23,427 25,927 32,725 34,571 34,571 43,212 44,705 43,425 47,324 47,324 50,341 46,986 48,274 46,703 46,703 55,237 61,506 49,358 59,531 59,531 62,499 54,587 57,034 71,246 71,246 69,526 80,366 80,694 89,659 89,659 94,418 87,155 81,868 80,068 80,068 82,903 75,785 66,961 69,219 69,219 60,171 57,452 52,271 56,454 56,454 61,776 60,615 54,893 66,209 66,209
Current portion of accrued warranty - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 6,186 6,186 6,741 6,687 7,540 7,838 7,838 8,040 8,344 7,697 7,724 7,724 7,541 7,821 7,948 9,489 9,489 9,991 12,061 13,413 14,871 14,871 13,501 13,971 14,686 15,711 15,711 16,974 18,411 20,344 25,059 25,059 22,398 22,207 22,045 23,106 23,106 22,524 23,841 23,802 23,114 23,114 24,057 23,845 23,971 24,345 24,345 24,056 25,116 25,650 26,204 26,204 26,815 27,331 26,800 28,504 28,504 28,813 28,428 27,280 27,283 27,283 25,916 24,754 23,261 21,398 21,398 20,492 20,304 19,110 17,348 17,348
Other liabilities 11,248 13,305 13,940 13,940 13,980 14,380 17,909 13,724 13,724 16,046 17,313 19,712 17,988 17,988 17,507 18,929 21,276 21,189 21,189 25,316 35,287 41,726 50,105 50,105 47,512 50,732 51,248 4,329 4,329 6,797 4,096 5,673 4,467 4,467 5,744 5,740 7,064 7,396 7,396 7,550 7,389 7,784 6,290 6,290 7,094 6,906 6,873 5,654 5,654 7,622 9,979 9,801 8,442 8,442 7,944 10,031 9,971 8,831 8,831 9,515 11,266 9,704 24,724 24,724 23,508 20,624 20,332 18,256 18,256 16,436 16,261 18,202 18,364 18,364 15,503 17,824 21,493 20,106 20,106 20,059 21,115 17,644 15,941 15,941 17,759 15,574 16,216 17,795 17,795 21,602 18,301 19,442 17,628 17,628 16,688 16,612 18,017 19,349 19,349
Income taxes payable 1,969 2,520 8,289 8,289 7,516 1,930 199 96 96 1,353 1,875 1,462 507 507 2,364 1,653 3,341 2,179 2,179 4,236 7,408 10,025 11,594 11,594 7,688 7,555 29,029 21,230 21,230 24,720 31,191 37,604 42,443 42,443 9,191 17,861 27,031 15,218 15,218 14,054 16,823 25,088 21,672 21,672 25,606 28,690 45,084 37,809 37,809 53,656 26,688 34,117 24,554 24,554 23,423 10,102 10,060 15,773 15,773 22,820 29,339 47,777 51,161 51,161 13,007 19,298 19,944 11,053 11,053 3,356 1,024 3,806 8,280 8,280 3,446 9,181 12,709 8,642 8,642 12,317 15,588 24,752 9,618 9,618 3,100 6,613 12,066 4,893 4,893 2,441 3,022 3,816 17,586 17,586 6,282 4,640 2,128 9,900 9,900
Total Current Liabilities 45,760 40,687 40,771 40,771 30,984 37,830 42,878 34,482 34,482 44,099 49,984 48,539 47,336 47,336 55,993 59,381 46,050 36,328 36,328 43,807 60,755 68,381 79,383 79,383 75,844 81,962 104,795 88,307 88,307 93,449 96,233 114,100 115,624 115,624 85,235 92,991 103,757 97,970 97,970 100,174 109,985 124,862 118,834 118,834 117,254 122,101 145,107 141,790 141,790 146,920 130,824 151,580 158,275 158,275 157,736 156,785 182,191 198,903 198,903 195,543 210,279 217,985 245,775 245,775 209,816 222,228 205,563 191,904 191,904 195,432 195,286 201,445 214,578 214,578 214,753 255,905 292,840 313,433 313,433 279,836 315,902 295,788 274,646 274,646 249,522 228,187 219,709 214,861 214,861 192,127 190,483 194,182 205,019 205,019 197,034 216,952 213,381 234,037 234,037
Other long-term liabilities and deferred income taxes 223 241 232 232 218 4,955 3,731 4,204 4,204 3,454 3,585 3,707 4,586 4,586 2,426 2,162 2,686 3,070 3,070 2,615 3,997 3,761 5,122 5,122 10,323 13,527 10,619 14,366 14,366 19,571 17,379 20,372 22,933 22,933 21,273 18,297 18,685 23,944 23,944 24,523 24,541 23,823 25,825 25,825 32,320 30,018 29,046 33,307 33,307 39,015 36,091 34,270 36,365 36,365 41,726 48,025 58,479 100,652 100,652 112,612 104,491 94,675 80,734 80,734 109,853 107,981 105,772 98,121 98,121 91,750 90,073 87,296 92,854 92,854 94,335 92,102 94,897 93,855 93,855 94,650 92,516 86,223 83,274 83,274 83,109 69,680 69,204 68,652 68,652 65,589 51,578 46,336 59,774 59,774 59,872 57,944 62,770 62,113 62,113
Long-term debt, net of current portion 25,830 32,126 30,068 30,068 20,000 20,000 20,000 20,000 20,000 20,000 18,710 18,356 17,997 17,997 17,649 17,334 17,000 16,667 16,667 16,333 16,649 16,382 15,644 15,644 17,112 16,758 16,296 15,726 15,726 15,132 14,671 14,341 14,014 14,014 12,525 12,000 11,667 11,333 11,333 11,000 - 0 - 0 19,667 19,667 19,167 18,667 18,167 17,667 17,667 17,167 39,229 38,432 37,635 37,635 36,839 21,375 46,296 45,378 45,378 44,483 43,551 42,631 41,707 41,707 40,779 39,846 38,909 37,968 37,968 37,022 36,071 35,117 34,157 34,157 33,193 32,225 16,328 16,031 16,031 15,734 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Total Liabilities 71,813 73,054 71,071 71,071 51,202 62,785 66,609 58,686 58,686 67,553 72,279 70,602 69,919 69,919 76,068 78,877 65,736 56,065 56,065 62,755 81,401 88,524 100,149 100,149 103,279 112,247 131,710 118,399 118,399 128,152 128,283 148,813 152,571 152,571 119,033 123,288 134,109 133,247 133,247 135,697 134,526 148,685 164,326 164,326 168,741 170,786 192,320 192,764 192,764 203,102 206,144 224,282 232,275 232,275 236,301 226,185 286,966 344,933 344,933 352,638 358,321 355,291 368,216 368,216 360,448 370,055 350,244 327,993 327,993 324,204 321,430 323,858 341,589 341,589 342,281 380,232 404,065 423,319 423,319 390,220 408,418 382,011 357,920 357,920 332,631 297,867 288,913 283,513 283,513 257,716 242,061 240,518 264,793 264,793 256,906 274,896 276,151 296,150 296,150
Redeemable Noncontrolling Interests - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 24,903 24,903 25,839 46,730 45,651 46,123 46,123 48,387 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
IPG Photonics Corporation equity:
Common stock 4 4 4 4 4 4 4 4 4 4 4 4 4 4 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6
Treasury stock, at cost - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (3,483) (8,946) (8,946) (21,485) (33,058) (35,857) (48,933) (48,933) (69,004) (99,997) (160,859) (224,998) (224,998) (224,998) (227,282) (250,919) (265,730) (265,730) (278,446) (293,960) (303,614) (303,614) (303,614) (306,662) (345,345) (381,685) (438,503) (438,503) (517,260) (750,109) (821,388) (938,009) (938,009) (1,051,103) (1,051,040) (1,097,537) (1,161,505) (1,161,505) (1,251,121) (1,373,525) (1,447,984) (1,505,321) (1,505,321) (1,505,216) (1,535,525) (1,551,924) (1,555,629) (1,555,629)
Additional paid-in capital 197,177 197,496 271,122 271,122 271,363 272,326 273,720 275,506 275,506 276,203 277,875 279,364 283,217 283,217 288,209 289,242 291,673 293,743 293,743 294,724 296,572 302,934 310,218 310,218 317,709 325,783 329,416 332,585 332,585 504,243 499,951 506,854 511,039 511,039 515,755 521,044 526,481 538,908 538,908 544,351 551,885 556,401 567,617 567,617 580,926 591,718 597,803 607,649 607,649 616,156 629,694 635,778 650,974 650,974 668,003 681,263 693,337 704,727 704,727 714,255 729,082 738,285 744,937 744,937 746,926 761,936 772,152 785,636 785,636 788,568 811,559 828,796 854,301 854,301 868,097 883,546 894,264 908,423 908,423 917,693 930,950 939,040 951,371 951,371 957,103 969,889 978,331 994,020 994,020 1,002,600 1,014,094 1,025,268 1,035,285 1,035,285 1,040,264 1,053,080 1,063,762 1,077,172 1,077,172
Notes receivable from stockholders (463) (23) (23) (23) (23) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Retained earnings (146,558) (141,775) (137,028) (120,392) (120,392) (113,779) (107,391) (98,834) (90,497) (90,497) (82,348) (73,796) (62,903) (53,843) (53,843) (52,572) (53,801) (51,546) (48,424) (48,424) (45,027) (34,721) (21,495) 5,567 5,567 28,635 59,371 91,753 122,833 122,833 153,241 190,983 233,418 234,977 234,977 270,104 311,824 354,162 390,757 390,757 431,288 479,571 534,771 591,202 591,202 648,561 709,860 772,652 833,356 833,356 882,682 949,741 1,018,976 1,094,108 1,094,108 1,171,198 1,275,314 1,390,911 1,443,867 1,443,867 1,550,807 1,672,424 1,772,941 1,848,500 1,848,500 1,903,659 1,975,931 2,033,184 2,028,734 2,028,734 2,065,022 2,103,248 2,138,852 2,188,191 2,188,191 2,256,318 2,326,118 2,401,520 2,466,607 2,466,607 2,536,179 2,593,147 2,669,411 2,576,516 2,576,516 2,636,651 2,698,972 2,753,966 2,795,394 2,795,394 2,819,493 2,839,647 2,606,053 2,613,868 2,613,868 2,617,626 2,624,231 2,631,694 2,644,964 2,644,964
Accumulated other comprehensive gain (loss) 5,629 6,042 7,883 7,883 8,458 8,986 12,646 15,167 15,167 21,542 21,399 11,954 8,794 8,794 1,886 8,683 12,965 11,106 11,106 2,582 (9,740) 3,712 810 810 13,890 17,000 (2,447) (12,100) (12,100) 877 (21,208) (10,705) (3,094) (3,094) (12,639) (16,906) (4,961) (1,701) (1,701) (14,328) (7,601) (54,474) (112,263) (112,263) (150,539) (139,262) (155,802) (181,482) (181,482) (152,987) (156,451) (148,430) (178,583) (178,583) (151,626) (119,167) (89,297) (77,344) (77,344) (50,694) (129,357) (144,409) (162,896) (162,896) (157,751) (143,943) (174,311) (146,919) (146,919) (220,081) (184,501) (193,827) (146,065) (146,065) (178,257) (159,407) (174,753) (189,951) (189,951) (229,369) (134,778) (206,560) (204,524) (204,524) (204,132) (219,277) (250,815) (212,530) (212,530) (230,258) (226,852) (68,731) (119,367) (119,367) (92,238) (37,240) (38,726) (38,383) (38,383)
Total IPG Photonics Corporation equity 60,572 66,491 158,594 158,594 166,023 173,925 187,536 200,180 200,180 215,401 225,482 228,419 238,172 238,172 237,528 244,129 253,097 256,430 256,430 252,284 252,116 285,156 316,600 316,600 360,239 402,159 418,727 443,323 443,323 658,366 669,731 729,572 742,927 742,927 773,225 815,967 875,687 927,969 927,969 961,316 1,023,860 1,036,703 1,046,561 1,046,561 1,078,953 1,162,321 1,214,658 1,259,528 1,259,528 1,345,856 1,422,989 1,502,846 1,557,558 1,557,558 1,666,095 1,804,357 1,959,099 2,022,322 2,022,322 2,145,369 2,172,157 2,205,963 2,205,548 2,205,548 2,267,841 2,366,647 2,380,111 2,401,726 2,401,726 2,355,069 2,436,352 2,470,213 2,592,819 2,592,819 2,639,502 2,704,918 2,739,352 2,746,582 2,746,582 2,707,249 2,639,216 2,580,509 2,385,360 2,385,360 2,338,525 2,398,550 2,383,951 2,415,385 2,415,385 2,340,720 2,253,370 2,114,612 2,024,471 2,024,471 2,060,442 2,104,552 2,104,812 2,128,130 2,128,130
Noncontrolling interests 1,343 1,856 2,827 2,827 3,199 3,415 4,067 4,455 4,455 4,801 5,270 4,896 5,127 5,127 209 95 106 141 141 168 207 296 203 203 210 245 236 287 287 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 1,566 1,434 1,228 1,137 1,137 1,142 174 170 166 166 177 - 0 - 0 - 0 - 0 - 0 - 0 845 686 686 447 714 549 717 717 861 954 861 1,292 1,292 1,168 1,362 493 639 639 1,000 1,135 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Total equity 61,915 68,347 161,421 161,421 169,222 177,340 191,603 204,635 204,635 220,202 230,752 233,315 243,299 243,299 237,737 244,224 253,203 256,571 256,571 252,452 252,323 285,452 316,803 316,803 360,449 402,404 418,963 443,610 443,610 658,366 669,731 729,572 742,927 742,927 773,225 815,967 875,687 927,969 927,969 961,316 1,023,860 1,036,703 1,046,561 1,046,561 1,080,519 1,163,755 1,215,886 1,260,665 1,260,665 1,346,998 1,423,163 1,503,016 1,557,724 1,557,724 1,666,272 1,804,357 1,959,099 2,022,322 2,022,322 2,145,369 2,172,157 2,206,808 2,206,234 2,206,234 2,268,288 2,367,361 2,380,660 2,402,443 2,402,443 2,355,930 2,437,306 2,471,074 2,594,111 2,594,111 2,640,670 2,706,280 2,739,845 2,747,221 2,747,221 2,708,249 2,640,351 2,580,509 2,385,360 2,385,360 2,338,525 2,398,550 2,383,951 2,415,385 2,415,385 2,340,720 2,253,370 2,114,612 2,024,471 2,024,471 2,060,442 2,104,552 2,104,812 2,128,130 2,128,130
Total liabilities and equity $ 133,728 $ 141,401 $ 232,492 $ 232,492 $ 220,424 $ 240,125 $ 258,212 $ 263,321 $ 263,321 $ 287,755 $ 303,031 $ 303,917 $ 313,218 $ 313,218 $ 313,805 $ 323,101 $ 318,939 $ 312,636 $ 312,636 $ 315,207 $ 333,724 $ 373,976 $ 441,855 $ 441,855 $ 489,567 $ 561,381 $ 596,324 $ 608,132 $ 608,132 $ 834,905 $ 798,014 $ 878,385 $ 895,498 $ 895,498 $ 892,258 $ 939,255 $ 1,009,796 $ 1,061,216 $ 1,061,216 $ 1,097,013 $ 1,158,386 $ 1,185,388 $ 1,210,887 $ 1,210,887 $ 1,249,260 $ 1,334,541 $ 1,408,206 $ 1,453,429 $ 1,453,429 $ 1,550,100 $ 1,629,307 $ 1,727,298 $ 1,789,999 $ 1,789,999 $ 1,902,573 $ 2,030,542 $ 2,246,065 $ 2,367,255 $ 2,367,255 $ 2,498,007 $ 2,530,478 $ 2,562,099 $ 2,574,450 $ 2,574,450 $ 2,628,736 $ 2,737,416 $ 2,730,904 $ 2,730,436 $ 2,730,436 $ 2,680,134 $ 2,758,736 $ 2,794,932 $ 2,935,700 $ 2,935,700 $ 2,982,951 $ 3,086,512 $ 3,143,910 $ 3,170,540 $ 3,170,540 $ 3,098,469 $ 3,048,769 $ 2,962,520 $ 2,743,280 $ 2,743,280 $ 2,671,156 $ 2,696,417 $ 2,672,864 $ 2,698,898 $ 2,698,898 $ 2,598,436 $ 2,495,431 $ 2,355,130 $ 2,289,264 $ 2,289,264 $ 2,317,348 $ 2,379,448 $ 2,380,963 $ 2,424,280 $ 2,424,280
- 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
INVESTED CAPITAL
Contingent purchase consideration - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 678 685 685 1,023 1,047 1,028 999 999 597 597 2,444 3,023 3,023 3,016 559 375 375 375 366 357 98 98 98 83 80 69 20 20 21 20 21 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 1,963 1,963 1,343 1,529 1,406 1,371 1,371 1,615 1,460 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Revolving line-of-credit facilities 11,011 7,886 2,603 2,603 848 10,732 15,566 11,218 11,218 15,336 19,850 16,001 19,769 19,769 29,760 31,401 15,476 6,007 6,007 7,098 6,300 4,634 6,841 6,841 6,587 7,205 7,731 7,057 7,057 9,652 4,037 4,900 2,442 2,442 9,802 1,822 1,547 3,296 3,296 2,300 2,724 2,276 2,631 2,631 523 1,600 248 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Current portion of long-term debt 15,301 10,025 8,299 8,299 - 0 - 0 - 0 - 0 - 0 - 0 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,333 1,531 1,586 1,546 1,613 1,613 1,575 1,580 1,572 1,505 1,505 1,529 1,333 1,333 1,333 1,333 1,333 12,000 11,667 13,333 13,333 13,000 2,000 2,000 2,000 2,000 2,000 3,188 3,188 3,188 3,188 3,188 1,188 3,576 3,604 3,604 3,604 3,637 3,654 3,671 3,671 3,688 3,705 3,722 3,740 3,740 3,757 3,775 3,792 3,810 3,810 3,828 3,846 18,788 18,126 18,126 17,459 32,225 16,328 16,031 16,031 15,734 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Long-term debt, net of current portion 25,830 32,126 30,068 30,068 20,000 20,000 20,000 20,000 20,000 20,000 18,710 18,356 17,997 17,997 17,649 17,334 17,000 16,667 16,667 16,333 16,649 16,382 15,644 15,644 17,112 16,758 16,296 15,726 15,726 15,132 14,671 14,341 14,014 14,014 12,525 12,000 11,667 11,333 11,333 11,000 - 0 - 0 19,667 19,667 19,167 18,667 18,167 17,667 17,667 17,167 39,229 38,432 37,635 37,635 36,839 21,375 46,296 45,378 45,378 44,483 43,551 42,631 41,707 41,707 40,779 39,846 38,909 37,968 37,968 37,022 36,071 35,117 34,157 34,157 33,193 32,225 16,328 16,031 16,031 15,734 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Redeemable Noncontrolling Interests - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 24,903 24,903 25,839 46,730 45,651 46,123 46,123 48,387 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Total equity 61,915 68,347 161,421 161,421 169,222 177,340 191,603 204,635 204,635 220,202 230,752 233,315 243,299 243,299 237,737 244,224 253,203 256,571 256,571 252,452 252,323 285,452 316,803 316,803 360,449 402,404 418,963 443,610 443,610 658,366 669,731 729,572 742,927 742,927 773,225 815,967 875,687 927,969 927,969 961,316 1,023,860 1,036,703 1,046,561 1,046,561 1,080,519 1,163,755 1,215,886 1,260,665 1,260,665 1,346,998 1,423,163 1,503,016 1,557,724 1,557,724 1,666,272 1,804,357 1,959,099 2,022,322 2,022,322 2,145,369 2,172,157 2,206,808 2,206,234 2,206,234 2,268,288 2,367,361 2,380,660 2,402,443 2,402,443 2,355,930 2,437,306 2,471,074 2,594,111 2,594,111 2,640,670 2,706,280 2,739,845 2,747,221 2,747,221 2,708,249 2,640,351 2,580,509 2,385,360 2,385,360 2,338,525 2,398,550 2,383,951 2,415,385 2,415,385 2,340,720 2,253,370 2,114,612 2,024,471 2,024,471 2,060,442 2,104,552 2,104,812 2,128,130 2,128,130
Total 114,057 118,384 202,391 202,391 190,070 208,072 227,169 235,853 235,853 255,538 270,645 269,005 282,398 282,398 286,479 294,292 287,012 280,578 280,578 277,216 276,605 308,479 366,209 366,209 412,541 475,730 491,215 515,128 515,128 733,709 690,616 752,829 763,911 763,911 800,097 831,681 890,609 944,306 944,306 976,315 1,038,941 1,050,744 1,082,290 1,082,290 1,113,292 1,186,102 1,236,370 1,280,352 1,280,352 1,366,186 1,465,600 1,544,657 1,598,547 1,598,547 1,706,299 1,826,920 2,008,971 2,071,304 2,071,304 2,193,456 2,219,345 2,253,093 2,251,612 2,251,612 2,312,755 2,410,912 2,423,291 2,444,151 2,444,151 2,396,709 2,477,152 2,509,983 2,634,041 2,634,041 2,679,034 2,743,880 2,776,367 2,782,749 2,782,749 2,743,057 2,674,036 2,596,837 2,401,391 2,401,391 2,354,259 2,398,550 2,383,951 2,415,385 2,415,385 2,340,720 2,253,370 2,114,612 2,024,471 2,024,471 2,060,442 2,104,552 2,104,812 2,128,130 2,128,130
Total, excluding cash and short-term investments 102,775 107,027 126,724 126,724 140,941 161,363 182,419 190,931 190,931 215,840 225,719 224,666 231,115 231,115 214,878 216,224 210,703 197,658 197,658 192,809 185,950 211,849 218,349 218,349 251,923 287,534 294,629 309,443 309,443 338,187 335,273 380,260 379,858 379,858 444,382 462,197 492,254 495,530 495,530 495,706 555,509 563,226 560,140 560,140 571,818 614,594 585,150 591,236 591,236 626,221 751,520 772,129 767,913 767,913 843,496 896,505 963,049 955,147 955,147 1,017,547 1,093,583 1,131,065 1,206,822 1,206,822 1,282,678 1,368,083 1,344,454 1,261,535 1,261,535 1,201,566 1,228,253 1,208,367 1,242,975 1,242,975 1,234,097 1,246,471 1,257,360 1,268,244 1,268,244 1,326,379 1,439,383 1,362,154 1,223,808 1,223,808 1,284,649 1,302,138 1,250,460 1,237,904 1,237,904 1,200,613 1,189,467 1,095,297 1,094,279 1,094,279 1,133,564 1,204,954 1,234,427 1,288,802 1,288,802
Days Sales Outstanding 51 57 49 53 55 64 57 64 61 59 66 59 72 60 51 53 54 62 50 52 55 57 56 65 57 65 61 65 62 64 58 57 59 63 63 68 66 58 62 64 55 56 51 57 58 53 60 59 53 65 71 66 68 71 72 73 62 69 72 66 61 66 66 63 60 51 58 61 62 70 67 66 62 65 67 70 73 61 61
Days Inventory Outstanding 168 197 177 181 203 207 177 223 240 206 211 202 197 187 141 153 134 150 147 172 180 184 188 206 176 177 184 193 179 199 188 189 185 182 168 172 163 165 185 222 191 184 176 183 145 155 186 205 192 227 227 226 211 218 192 226 209 206 177 182 193 207 214 220 248 257 172 227 233 262 226 254 226 165 182 188 176 196 164
Days Payable Outstanding 30 34 32 35 42 32 28 36 30 28 22 15 19 15 15 17 26 25 19 24 25 24 18 23 19 19 23 20 22 17 20 21 16 19 17 16 18 17 24 20 16 14 21 18 16 19 21 19 22 17 20 22 19 16 14 25 24 21 12 22 24 25 26 21 25 26 16 18 18 18 14 16 15 20 23 25 24 24 21
Cash Conversion Cycle 189 220 194 199 217 238 206 250 271 236 254 246 250 232 178 189 162 187 178 200 210 217 227 249 214 223 222 239 220 246 225 225 228 226 215 224 210 206 223 267 229 227 207 222 188 189 225 245 223 275 278 271 261 273 250 275 247 254 237 226 230 248 254 262 282 283 215 270 277 314 279 305 273 209 227 233 225 233 205

&G

Cash Flows Cumulative

IPG Photonics Corporation FY'06 FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'25
Consolidated Statements of Cash Flows (Cumulative)
(unaudited, in thousands) Cumulative Quarter Ended Yr Ended Cumulative Quarter Ended Yr Ended Cumulative Quarter Ended Yr Ended Cumulative Quarter Ended Yr Ended Cumulative Quarter Ended Yr Ended Cumulative Quarter Ended Yr Ended Cumulative Quarter Ended Yr Ended Cumulative Quarter Ended Yr Ended Cumulative Quarter Ended Yr Ended Cumulative Quarter Ended Yr Ended Cumulative Quarter Ended Yr Ended Cumulative Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended
31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec
Cash flows from operating activities:
Net income (loss) $ 2,549 $ 6,814 $ 11,043 $ 8,972 $ 8,972 $ 6,985 $ 13,589 $ 23,405 $ 32,088 $ 32,088 $ 8,495 $ 17,516 $ 28,998 $ 38,453 $ 38,453 $ 1,026 $ (139) $ 2,127 $ 5,284 $ 5,284 $ 3,424 $ 13,769 $ 27,084 $ 54,352 $ 54,352 $ 23,378 $ 54,885 $ 89,154 $ 121,009 $ 121,009 $ 30,548 $ 70,397 $ 112,832 $ 147,744 $ 147,744 $ 35,127 $ 76,847 $ 119,185 $ 155,780 $ 155,780 $ 40,531 $ 88,814 $ 144,014 $ 200,445 $ 200,445 $ 57,346 $ 118,590 $ 181,349 $ 242,027 $ 242,027 $ 49,328 $ 116,360 $ 185,587 $ 260,716 $ 260,716 $ 74,932 $ 179,035 $ 294,632 $ 347,588 $ 347,588 $ 106,334 $ 227,951 $ 328,703 $ 404,169 $ 404,169 $ 54,916 $ 127,437 $ 184,564 $ 180,261 $ 180,261 $ 36,766 $ 75,132 $ 110,662 $ 160,338 $ 160,338 $ 68,222 $ 137,899 $ 212,598 $ 277,866 $ 277,866 $ 69,628 $ 126,959 $ 203,657 $ 110,762 $ 110,762 $ 60,135 $ 122,456 $ 177,450 $ 218,878 $ 218,878 $ 24,099 $ 44,253 $ (189,341) $ (181,526) $ (181,526) $ 3,758 $ 10,363 $ 17,826 $ 31,096 $ 31,096
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization 1,817 3,754 5,664 9,105 9,105 2,725 5,410 8,555 12,304 12,304 3,609 7,525 11,101 15,834 15,834 4,380 9,043 14,024 19,172 19,172 5,226 10,514 16,098 21,845 21,845 5,658 11,955 18,182 23,962 23,962 6,215 12,358 19,168 26,144 26,144 7,217 14,885 23,414 31,524 31,524 8,102 17,088 26,409 35,612 35,612 9,743 20,176 31,079 42,415 42,415 11,394 23,653 37,646 51,475 51,475 14,504 29,714 46,416 64,568 64,568 19,223 38,727 58,894 80,271 80,271 22,802 47,486 72,531 96,268 96,268 24,099 47,350 71,188 94,554 94,554 23,819 47,976 72,127 96,330 96,330 23,435 47,104 69,852 90,564 90,564 17,889 35,343 52,678 69,621 69,621 16,214 31,506 46,623 61,443 61,443 15,341 31,167 46,799 66,854 66,854
Goodwill impairment 37,120 37,120 - 0 - 0 44,589 44,589 44,589 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Impairment of long-lived assets and restructuring charges (recoveries), net 5,350 5,350 - 0 671 671 671 671 - 0 - 0 - 0 - 0 - 0 - 0 - 0 919 79,949 79,949 - 0 - 0 (486) (486) (486) - 0 - 0 26,566 27,006 27,006 - 0 - 0 - 0 - 0 - 0
Deferred income taxes 1,990 3,063 76 (10,159) (10,159) 691 380 3,970 8,116 8,116 (2,032) (2,934) (1,629) 2,445 2,445 (4,174) (5,699) (8,119) (4,087) (4,087) (2,409) (2,766) (2,073) 401 401 5,201 6,624 564 (288) (288) 2,854 389 2,705 5,546 5,546 4,324 (3,385) (7,591) (6,168) (6,168) (2,610) (4,893) (5,954) (1,486) (1,486) 5,708 (2,118) (7,144) (7,153) (7,153) (2,741) (9,268) (12,054) (12,908) (12,908) 4,208 4,533 14,534 22,881 22,881 7,401 6,097 2,954 (4,576) (4,576) 9,199 2,628 (4,214) (15,489) (15,489) (935) 1,591 (10,122) (12,813) (12,813) 3,944 (1,856) (4,757) (6,885) (6,885) (3,397) (11,204) (21,550) (27,575) (27,575) 16,106 5,065 (4,835) (13,789) (13,789) 4,044 720 (18,763) (25,660) (25,660) 6,476 (1,961) (7,238) (13,680) (13,680)
Stock-based compensation - 0 126 317 533 533 219 509 905 1,324 1,324 387 1,004 1,499 2,074 2,074 635 1,205 1,992 2,767 2,767 770 1,563 2,478 3,196 3,196 2,607 4,301 6,180 8,048 8,048 1,998 4,199 6,358 8,565 8,565 2,532 5,472 8,604 11,720 11,720 3,267 7,172 11,067 15,172 15,172 4,127 8,862 13,875 18,989 18,989 4,959 10,436 16,099 21,734 21,734 5,351 11,059 16,989 23,021 23,021 6,415 13,724 21,443 28,027 28,027 8,138 17,031 25,571 33,363 33,363 8,430 17,653 26,394 35,472 35,472 8,815 18,678 28,536 37,864 37,864 9,994 20,439 29,201 38,302 38,302 9,576 19,249 27,392 39,502 39,502 9,738 18,282 29,378 37,070 37,070 10,754 22,048 32,793 42,947 42,947
Unrealized losses (gains) on foreign currency transactions - 0 321 585 1,115 1,115 - 0 - 0 (885) (1,050) (1,050) (353) (314) (1,852) (3,776) (3,776) 1,513 1,015 1,077 1,023 1,023 (106) (2,403) (325) (888) (888) 744 551 (182) (764) (764) 1,747 (865) 1,484 1,250 1,250 (481) (591) 972 (235) (235) (1,355) (2,225) (4,547) (3,497) (3,497) (5,415) (3,412) (3,893) (5,491) (5,491) 4,802 2,240 6,044 2,298 2,298 3,462 5,538 8,197 7,949 7,949 (1,991) (1,056) (1,779) (2,670) (2,670) 267 4,185 7,033 11,004 11,004 (19,589) (8,737) (21,759) (19,935) (19,935) (7,800) (1,728) (4,313) (8,560) (8,560) (2,393) 12,584 8,355 (592) (592) (1,877) (1,816) (4,322) (4,334) (4,334) (708) (487) (118) 1,161 1,161 42 2,788 3,378 (822) (822)
Loss (Gain) on divestiture and sale of asset, net - 0 - 0 - 0 (21,748) (31,846) (31,846) - 0 - 0 - 0 - 0 - 0 - 0 - 0 190,201 190,201 190,201 - 0 - 0 - 0 - 0 - 0
Other 2,892 3,981 7,047 29,799 29,799 (454) (384) (29) (42) (42) 130 (204) (566) (251) (251) (31) (20) (29) (36) (36) (10) (51) 142 1,184 1,184 (293) 530 548 565 565 12 12 38 (19) (19) (16) 460 369 62 62 422 335 464 459 459 50 95 191 510 510 175 294 193 2,724 2,724 842 688 699 986 986 4 (181) (1,936) (3,586) (3,586) 123 170 854 3,320 3,320 1,015 2,635 6,823 8,642 8,642 1,462 3,571 5,828 8,618 8,618 2,368 3,760 4,195 1,654 1,654 (4,244) (8,883) (12,997) (19,908) (19,908) (12,931) (18,523) (12,835) (13,695) (13,695) (2,476) (5,713) (7,814) (9,048) (9,048)
Provisions for inventory, warranty & bad debt - 0 298 596 1,037 1,037 763 2,072 2,555 4,077 4,077 1,710 3,489 6,045 7,902 7,902 3,728 6,152 8,635 11,353 11,353 1,718 4,475 8,110 11,377 11,377 3,806 7,056 11,859 15,346 15,346 3,799 8,502 14,762 19,967 19,967 3,705 10,255 18,203 29,975 29,975 5,284 12,207 19,906 28,036 28,036 8,017 18,804 29,414 39,985 39,985 8,927 20,459 33,506 46,469 46,469 9,002 22,754 34,690 44,978 44,978 9,318 20,092 30,582 38,862 38,862 9,912 22,697 38,748 63,752 63,752 13,486 24,484 42,559 70,572 70,572 16,685 32,654 50,364 68,441 68,441 16,142 38,644 58,990 153,652 153,652 17,214 31,846 43,889 61,058 61,058 14,761 30,365 76,434 90,377 90,377 11,876 22,080 31,766 43,314 43,314
Changes in assets and liabilities that (used) provided cash:
Accounts receivable (2,439) (2,474) (6,828) (6,022) (6,022) (2,351) (4,651) (10,174) (11,292) (11,292) (2,188) (2,846) (6,237) (8,466) (8,466) 10,281 8,197 10,730 9,269 9,269 (897) (12,740) (24,105) (27,308) (27,308) (2,086) (16,928) (26,221) (23,688) (23,688) (12,203) (13,301) (36,514) (22,706) (22,706) (8,250) (21,212) (26,942) (9,991) (9,991) (4,373) (20,720) (37,926) (48,518) (48,518) (11,885) (31,748) (20,004) (19,036) (19,036) 8,140 2,885 (10,853) (11,444) (11,444) (22,801) (73,634) (56,416) (63,225) (63,225) 7,942 (9,491) (26,058) (18,814) (18,814) 22,853 (21,056) (7,562) 9,776 9,776 34,492 33,011 2,308 (13,022) (13,022) 7,360 12,525 (12,281) (2,091) (2,091) 2,621 1,560 42,517 34,100 34,100 (24,642) (23,876) (25,026) (10,395) (10,395) 32,305 38,460 51,884 46,827 46,827 (4,113) (23,001) 11,373 (4,761) (4,761)
Inventories (1,106) (6,389) (12,555) (19,884) (19,884) (3,284) (11,746) (14,599) (15,305) (15,305) (7,298) (15,751) (21,836) (21,661) (21,661) 859 1,686 2,844 5,600 5,600 (3,349) (9,515) (18,005) (27,018) (27,018) (13,720) (35,193) (52,261) (56,139) (56,139) (4,027) (10,148) (17,050) (22,975) (22,975) (6,984) (23,814) (43,705) (50,355) (50,355) (3,856) (14,988) (30,220) (42,246) (42,246) (13,898) (33,211) (52,172) (70,565) (70,565) (19,365) (34,668) (42,814) (53,626) (53,626) (22,408) (25,820) (39,697) (71,080) (71,080) (49,744) (91,014) (122,051) (135,440) (135,440) (19,719) (40,789) (51,032) (28,105) (28,105) (10,429) (15,160) (34,213) (39,900) (39,900) (20,084) (61,220) (105,384) (149,754) (149,754) (50,951) (99,233) (148,959) (189,013) (189,013) (8,989) (12,103) (20,736) 1,823 1,823 1,498 17,041 29,760 47,725 47,725 (8,967) (23,837) (52,005) (52,918) (52,918)
Prepaid expenses and other current assets (690) (1,251) (1,488) (1,148) (1,148) (3,218) (2,620) (7,120) (6,756) (6,756) 618 1,032 3,530 6,810 6,810 (1,626) 398 (264) 679 679 38 391 (969) (4,707) (4,707) (4,610) (4,555) (1,748) (770) (770) (2,395) (1,296) (3,335) (899) (899) (2,212) (1,503) (3,478) (3,980) (3,980) (4,731) 436 202 (5,351) (5,351) (723) 1,945 2,062 1,853 1,853 (178) (652) (4,102) (4,069) (4,069) (3,972) (2,768) (1,560) (911) (911) (2,138) (1,991) (4,925) (7,062) (7,062) 1,284 8,616 11,087 18,405 18,405 (9,119) (2,193) (2,065) (3,802) (3,802) (1,052) (2,187) (8,823) (23,697) (23,697) 3,052 4,922 6,584 22,545 22,545 (10,419) (15,480) (5,504) (2,025) (2,025) (7,343) (7,143) (4,501) 6,527 6,527 (6,087) (8,516) (11,589) (11,050) (11,050)
Accounts payable 387 678 1,260 342 342 (93) 2,840 1,019 1,086 1,086 798 (469) 519 (2,267) (2,267) (1,156) (335) (1,481) (498) (498) (399) 4,191 3,470 3,411 3,411 3,129 4,888 5,475 1,985 1,985 702 2,184 2,170 4,375 4,375 (1,936) 2,508 (2,008) 974 974 516 (2,684) 1,324 3,262 3,262 (1,231) 4,422 4,519 9,806 9,806 (6,749) (8,441) (9,816) (407) (407) (1,560) 1,914 3,423 2,309 2,309 1,134 9,527 (1,319) (1,426) (1,426) 1,955 (445) (8,137) (10,257) (10,257) 6,054 13,245 8,819 (1,942) (1,942) 18,980 24,879 26,296 30,997 30,997 (8,448) 3,131 (2,837) (12,174) (12,174) (4,600) (7,472) (10,231) (16,319) (16,319) 274 1,276 4,272 (1,526) (1,526) 5,491 8,940 7,414 4,334 4,334
Accrued expenses and other liabilities 2,163 976 (2,259) (1,653) (1,653) (550) (273) 1,715 (2,889) (2,889) (649) (330) 2,314 (304) (304) (697) (406) 760 (72) (72) 3,634 13,237 15,962 22,119 22,119 (5,975) (2,693) (2,473) (6,811) (6,811) (6,383) (3,922) (1,281) (8,155) (8,155) (2,658) (880) 2,734 (281) (281) 3,934 (170) 2,653 (1,567) (1,567) (2,774) (2,397) 3,656 613 613 (8,378) (4,341) 3,848 5,480 5,480 (659) 2,102 1,809 9,612 9,612 (9,509) (17,860) (20,095) (19,666) (19,666) (10,274) (9,320) (26,113) (37,310) (37,310) (6,477) (15,590) (17,492) (14,752) (14,752) (17,961) 595 7,963 24,715 24,715 (31,448) (35,842) (40,327) (43,547) (43,547) (19,120) (27,736) (39,646) (44,693) (44,693) (26,230) (28,265) (36,743) (37,355) (37,355) (6,965) 3,788 (1,024) 10,267 10,267
Income and other taxes payable (769) 411 6,417 7,165 7,165 (855) (7,117) (9,823) (11,004) (11,004) 2,132 3,930 3,140 (2,122) (2,122) 2,772 2,703 5,396 3,951 3,951 236 2,773 1,540 12,911 12,911 (4,577) 1,829 14,428 12,929 12,929 5,186 11,041 19,038 21,118 21,118 (40,243) (32,412) (25,186) (30,784) (30,784) (175) (1,071) (609) 5,763 5,763 7,716 7,067 17,501 9,529 9,529 14,583 (10,653) (7,439) (10,746) (10,746) (10,081) (22,013) (26,866) 16,719 16,719 5,264 14,026 15,838 35,212 35,212 (57,801) (56,861) (49,748) (43,937) (43,937) (21,012) (43,836) (28,345) (23,337) (23,337) (14,847) (8,596) 37,002 35,856 35,856 (14,180) (17,663) (17,823) (14,132) (14,132) (9,749) (12,647) 12,298 17,053 17,053 (1,125) (19,431) (18,705) (679) (679) (11,685) (26,917) (25,144) (31,189) (31,189)
Net cash (used in) provided by operating activities 6,794 10,308 9,875 19,202 19,202 578 (1,991) (506) 10,657 10,657 5,359 11,648 25,026 34,671 34,671 17,510 23,800 37,692 54,405 54,405 7,876 23,438 29,407 70,875 70,875 13,262 33,250 63,505 95,384 95,384 28,053 79,550 120,375 179,955 179,955 (9,875) 26,630 64,571 128,241 128,241 44,956 79,301 126,783 186,084 186,084 56,781 107,075 200,433 263,482 263,482 64,897 108,304 195,845 297,696 297,696 50,820 133,102 296,850 405,395 405,395 99,653 208,551 280,251 393,301 393,301 43,655 101,779 193,582 323,521 323,521 56,781 130,256 200,017 285,335 285,335 87,543 203,190 305,156 389,700 389,700 16,423 95,161 171,026 212,649 212,649 37,280 103,946 189,924 295,986 295,986 54,596 108,054 174,112 247,896 247,896 13,445 11,229 46,535 75,344 75,344
Cash flows from investing activities:
Purchases of and deposits on property, plant and equipment (3,865) (9,054) (14,518) (20,442) (20,442) (7,262) (17,859) (26,458) (34,341) (34,341) (12,962) (20,325) (29,489) (37,111) (37,111) (4,686) (7,726) (9,580) (10,498) (10,498) (4,953) (8,701) (14,201) (28,374) (28,374) (9,587) (22,786) (34,750) (53,007) (53,007) (13,779) (35,966) (51,715) (68,184) (68,184) (17,746) (34,263) (48,333) (70,919) (70,919) (11,456) (45,781) (72,723) (88,601) (88,601) (14,027) (32,606) (50,759) (70,119) (70,119) (24,960) (70,863) (101,668) (127,042) (127,042) (21,875) (43,632) (99,221) (126,535) (126,535) (39,113) (96,516) (133,355) (160,343) (160,343) (32,988) (86,492) (107,540) (133,536) (133,536) (17,801) (37,370) (61,871) (87,696) (87,696) (27,421) (54,344) (93,857) (123,108) (123,108) (25,177) (59,903) (84,552) (110,141) (110,141) (33,404) (59,139) (85,256) (110,483) (110,483) (28,052) (52,270) (75,358) (98,524) (98,524) (24,818) (40,176) (60,907) (78,798) (78,798)
Purchase of intangible assets - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (2,000) (2,000) (2,000) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Proceeds from sales of property, plant and equipment - 0 20 123 90 90 57 78 78 78 78 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 89 166 202 236 236 119 254 418 434 434 131 139 231 164 164 129 184 1,841 658 658 99 15,284 15,437 15,882 15,882 210 641 755 1,026 1,026 181 288 348 661 661 139 460 689 889 889 130 258 859 1,409 1,409 428 645 837 26,862 26,862 1,600 1,740 30,425 31,241 31,241 25,262 28,274 28,538 28,578 28,578 183 563 605 922 922
Purchases of short-term investments - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (6,950) (6,950) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (106,747) (106,747) (29,899) (62,211) (179,374) (299,508) (299,508) (28,173) (71,244) (146,585) (211,832) (211,832) (70,777) (289,830) (566,498) (765,310) (765,310) (178,101) (339,828) (557,674) 768,078 768,078 (308,195) (421,321) (732,729) (1,111,555) (1,111,555) (513,564) (1,014,033) (1,437,193) (1,940,605) (1,940,605) (475,435) (583,828) (914,598) (1,117,022) (1,117,022) (343,820) (583,347) (898,455) (1,232,863) (1,232,863) (226,521) (301,541) (423,176) (713,151) (713,151) (333,009) (579,814) (866,402) (943,323) (943,323)
Proceeds from short-term investments - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 4,450 5,450 5,450 5,450 5,450 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (25,451) (25,451) 7,001 15,687 25,452 25,451 25,451 - 0 - 0 - 0 495 495 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 10,000 41,720 158,808 198,808 198,808 70,370 156,171 188,143 212,515 212,515 70,161 161,618 286,346 470,328 470,328 202,856 334,680 568,501 (760,300) (760,300) 186,024 422,912 697,816 1,099,224 1,099,224 480,163 785,023 1,226,445 1,647,537 1,647,537 505,818 925,657 1,355,883 1,446,355 1,446,355 279,499 549,879 789,844 1,073,993 1,073,993 252,890 633,993 966,214 1,083,464 1,083,464 83,206 357,859 633,731 755,421 755,421
Acquisition of businesses, net of cash acquired - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (748) (4,108) (4,108) (4,108) (4,108) (450) (450) (450) (750) (750) - 0 - 0 (11,596) (11,596) (11,596) (5,555) (5,555) (5,555) (5,555) (5,555) - 0 - 0 - 0 - 0 - 0 (4,958) (4,958) (4,958) (4,958) (4,958) - 0 (46,527) (46,527) (47,792) (47,792) - 0 (11,307) (50,594) (60,483) (60,483) - 0 (4,422) (4,423) (109,115) (109,115) (15,115) (15,115) (15,115) (15,115) (15,115) - 0 - 0 - 0 (429) (429) - 0 - 0 - 0 - 0 - 0 (2,000) (2,000) (2,000) (2,000) (2,000) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (66,738) (66,738) - 0 - 0 - 0 505 505
Proceeds from divestiture, net of cash sold - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 52,141 52,941 52,941 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (25,324) (25,324) (25,324) - 0 - 0 - 0 - 0 - 0
Other 1,097 1,071 1,633 1,225 1,225 11 17 (336) (69) (69) 59 136 191 43 43 22 (54) 58 (141) (141) 181 117 171 (77) (77) 149 112 189 109 109 149 (39) (313) (928) (928) 375 407 442 (143) (143) 32 42 66 87 87 60 86 63 93 93 46 72 16 468 468 (47) (568) (496) (352) (352) 76 188 307 415 415 15 209 243 237 237 79 115 17 (7) (7) (2) (547) (1,078) (1,515) (1,515) (1,164) (350) (246) (43) (43) 107 326 446 558 558 157 188 385 427 427 52 52 69 43 43
Net cash (used in) provided by investing activities (2,768) (7,963) (12,762) (19,127) (19,127) (7,194) (17,764) (26,716) (41,282) (41,282) (8,453) (14,739) (23,848) (31,618) (31,618) (4,664) (7,780) (9,522) (10,639) (10,639) (5,520) (12,692) (18,138) (32,559) (32,559) (9,888) (23,124) (35,011) (79,099) (79,099) (6,629) (20,318) (38,172) (55,257) (55,257) (22,837) (39,245) (53,244) (75,886) (75,886) (11,305) (45,485) (74,239) (90,080) (90,080) (18,794) (37,339) (55,423) (181,567) (181,567) (44,684) (137,625) (166,904) (274,408) (274,408) 20,374 44,704 (93,316) (170,805) (170,805) (39,443) (228,321) (416,868) (562,999) (562,999) (23,152) (106,258) (111,237) (139,975) (139,975) (139,754) (35,204) (96,078) (99,574) (99,574) (60,694) (283,643) (304,824) (416,282) (416,282) 2,470 280,221 407,465 296,952 296,952 (96,018) (90,541) (162,996) (237,554) (237,554) 23,736 308,644 471,279 208,732 208,732 (274,386) (261,516) (292,904) (265,230) (265,230)
Cash flow from financing activities:
Proceeds from line-of-credit facilities 3,940 8,517 15,488 16,695 16,695 6,052 20,298 27,043 36,542 36,542 5,926 14,127 21,049 29,693 29,693 13,528 16,502 17,393 19,056 19,056 4,274 5,543 9,147 13,828 13,828 3,629 6,951 8,683 10,673 10,673 5,027 6,949 9,647 12,760 12,760 8,897 11,971 14,124 16,843 16,843 10,889 15,376 26,051 33,282 33,282 3,616 9,432 7,506 12,887 12,887 2,214 4,002 6,030 7,992 7,992 1,934 6,761 6,761 6,761 6,761 255 255 255 255 255 - 0 - 0 15 15 15 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Payments on line-of-credit facilities (3,938) (6,325) (11,809) (18,282) (18,282) (7,769) (12,118) (14,299) (28,269) (28,269) (2,585) (6,041) (16,682) (21,936) (21,936) (3,298) (4,716) (21,779) (32,851) (32,851) (3,112) (5,033) (10,629) (13,086) (13,086) (4,044) (6,817) (8,098) (10,630) (10,630) (2,333) (9,692) (11,605) (17,190) (17,190) (1,415) (12,591) (15,019) (15,990) (15,990) (11,861) (15,911) (26,836) (33,623) (33,623) (5,488) (10,209) (9,780) (15,227) (15,227) (2,223) (4,002) (6,030) (7,992) (7,992) (1,934) (6,761) (6,761) (6,761) (6,761) (255) (255) (255) (255) (255) - 0 - 0 (15) (15) (15) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Cash contributed by noncontrolling interests - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (596) (596) - 0 - 0 (1,220) (1,897) (1,897) (455) (508) (508) (508) (508) - 0 - 0 - 0 24,714 24,714 - 0 19,973 19,973 19,972 19,972 (700) (56,100) (56,100) (56,100) (56,100) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (950) (950) (950) (950) - 0 (197) (197) (197) (197) - 0 - 0 378 839 839 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Proceeds on long-term borrowings - 0 - 0 6,376 6,384 6,384 - 0 - 0 - 0 - 0 - 0 - 0 20,043 20,044 20,041 20,041 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 23,750 23,750 23,750 23,750 - 0 28,000 28,000 28,000 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Principal payments on long-term borrowings (2,142) (2,688) (5,228) (10,684) (10,684) (18,177) (18,177) (18,177) (18,177) (18,177) - 0 (19,499) (19,855) (20,196) (20,196) (344) (677) (1,011) (1,344) (1,344) (333) (667) (1,000) (1,333) (1,333) (333) (666) (1,046) (1,432) (1,432) (360) (1,476) (1,848) (2,117) (2,117) (1,640) (2,186) (2,519) (2,853) (2,853) (333) (667) (1,000) (1,667) (1,667) (833) (12,333) (12,833) (13,333) (13,333) (500) (1,000) (1,797) (2,594) (2,594) (797) (18,260) (18,951) (19,842) (19,842) (895) (1,794) (2,696) (3,604) (3,604) (911) (1,827) (2,747) (3,671) (3,671) (928) (1,862) (2,798) (3,740) (3,740) (946) (1,896) (2,851) (3,810) (3,810) (964) (1,932) (17,829) (18,126) (18,126) (298) (16,031) (16,031) (16,031) (16,031) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Exercise of employee stock options and issuances under employee stock purchase plan 545 905 1,033 1,274 1,274 23 851 1,692 3,060 3,060 310 1,365 2,359 4,959 4,959 137 477 2,121 3,417 3,417 211 1,266 6,714 6,298 6,298 4,884 3,989 4,491 5,268 5,268 749 2,249 4,275 5,480 5,480 720 2,177 3,228 7,275 7,275 611 3,379 3,730 7,558 7,558 4,409 9,574 10,489 14,132 14,132 2,644 8,579 9,186 16,183 16,183 9,600 17,152 23,296 28,654 28,654 3,113 10,631 12,115 12,183 12,183 (6,149) (32) 1,644 7,336 7,336 (5,498) 8,271 16,767 33,194 33,194 4,981 10,567 11,427 16,258 16,258 (724) 2,088 2,353 5,583 5,583 (3,844) (731) (432) 3,147 3,147 (1,158) 1,792 1,870 4,195 4,195 (5,775) (4,253) (4,316) (1,060) (1,060)
Purchase of treasury stock net of excise tax, at cost - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (3,483) (8,946) (8,946) (12,539) (24,112) (26,911) (39,987) (39,987) (20,071) (51,064) (111,926) (176,065) (176,065) - 0 (2,284) (25,921) (40,732) (40,732) (12,716) (28,230) (37,884) (37,884) (37,884) (3,048) (41,731) (78,071) (134,889) (134,889) (78,757) (311,606) (382,885) (499,506) (499,506) (113,094) (113,031) (159,528) (223,496) (223,496) (89,616) (212,020) (286,479) (343,816) (343,816) 105 (30,204) (46,603) (53,132) (53,132)
Purchase of non-controlling interests - 0 - 0 - 0 - 0 - 0 - 0 - 0 (2,500) (2,500) (2,500) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Proceeds from public offering, net of offering expenses - 0 - 0 - 0 93,169 93,169 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 168,268 168,022 167,963 167,928 167,928 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Distributions to shareholders - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (33,353) (33,353) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Other - 0 - 0 (150) (21,647) (21,647) - 0 - 0 23 57 57 - 0 - 0 (75) (212) (212) - 0 - 0 (61) (50) (50) - 0 - 0 (100) (100) (100) - 0 - 0 - 0 1 1 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (1,650) (1,650) (1,650) (1,650) (1,650) (2,624) (2,624) (2,624) (2,625) (2,625) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Net cash (used in) provided by financing activities (1,595) 409 5,710 66,909 66,909 (19,871) (9,146) (3,718) (7,383) (7,383) 3,651 9,995 5,620 10,452 10,452 9,568 11,078 (3,845) (12,280) (12,280) 1,040 1,109 4,132 30,321 30,321 4,136 23,430 24,003 23,852 23,852 170,651 109,952 112,332 77,408 77,408 6,562 (629) (186) 5,275 5,275 (694) 2,177 1,945 5,550 5,550 1,704 (3,536) (4,618) (1,541) (1,541) 2,135 30,379 26,706 27,443 27,443 (3,736) (25,417) 5,237 (3,372) (3,372) (17,853) (42,227) (102,129) (166,647) (166,647) (7,060) (4,143) (27,024) (37,067) (37,067) (20,792) (23,471) (25,565) (10,080) (10,080) (1,637) (35,684) (72,119) (125,066) (125,066) (80,445) (311,450) (400,861) (514,549) (514,549) (117,236) (129,793) (175,991) (236,380) (236,380) (90,774) (210,228) (284,609) (339,621) (339,621) (5,670) (34,457) (50,919) (54,192) (54,192)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash 61 167 173 322 322 (51) (57) 23 313 313 169 50 (431) (194) (194) (2,096) (313) 701 151 151 (1,909) (4,120) (1,691) (3,697) (3,697) 5,248 6,780 (3,771) (7,763) (7,763) 4,762 (3,840) (2,200) 1,713 1,713 (2,188) (1,325) 3,161 7,093 7,093 (1,124) (1,337) (15,747) (28,180) (28,180) (20,367) (16,842) (11,322) (19,992) (19,992) 8,812 3,696 7,379 (9,408) (9,408) 6,465 31,867 47,641 54,827 54,827 16,866 (31,111) (23,548) (29,197) (29,197) (5,997) (2,759) (16,561) (7,853) (7,853) (6,878) (4,523) 4,692 19,888 19,888 (7,024) (8,217) (11,862) (17,800) (17,800) (5,036) (1,249) (17,461) (5,948) (5,948) (1,098) (8,750) (20,862) (5,587) (5,587) (5,780) (604) 8,415 (11,641) (11,641) 9,617 23,888 23,274 27,828 27,828
Net increase (decrease) in cash, cash equivalents and restricted cash 2,492 2,921 2,996 67,306 67,306 (26,538) (28,958) (30,917) (37,695) (37,695) 726 6,954 6,367 13,311 13,311 20,318 26,785 25,026 31,637 31,637 1,487 7,735 13,710 64,940 64,940 12,758 40,336 48,726 32,374 32,374 196,837 165,344 192,335 203,819 203,819 (28,338) (14,569) 14,302 64,723 64,723 31,833 34,656 38,742 73,374 73,374 19,324 49,358 129,070 60,382 60,382 31,160 4,754 63,026 41,323 41,323 73,923 184,256 256,412 286,045 286,045 59,223 (93,108) (262,294) (365,542) (365,542) 7,446 (11,381) 38,760 138,626 138,626 (110,643) 67,058 83,066 195,569 195,569 18,188 (124,354) (83,649) (169,448) (169,448) (66,588) 62,683 160,169 (10,896) (10,896) (177,072) (125,138) (169,925) (183,535) (183,535) (18,222) 205,866 369,197 105,366 105,366 (256,994) (260,856) (274,014) (216,250) (216,250)
Cash and cash equivalents - Beginning of period 8,361 8,361 8,361 8,361 8,361 75,667 75,667 75,667 75,667 75,667 37,972 37,972 37,972 37,972 37,972 51,283 51,283 51,283 51,283 51,283 82,920 82,920 82,920 82,920 82,920 147,860 147,860 147,860 147,860 147,860 180,234 180,234 180,234 180,234 180,234 384,053 384,053 384,053 384,053 384,053 448,776 448,776 448,776 448,776 448,776 522,150 522,150 522,150 522,150 522,150 582,532 582,532 582,532 582,532 582,532 623,855 623,855 623,855 623,855 623,855 909,900 909,900 909,900 909,900 909,900 544,358 544,358 544,358 544,358 544,358 682,984 682,984 682,984 682,984 682,984 878,553 878,553 878,553 878,553 878,553 709,105 709,105 709,105 709,105 709,105 698,209 698,209 698,209 698,209 698,209 514,674 514,674 514,674 514,674 514,674 620,040 620,040 620,040 620,040 620,040
Cash, cash equivalents and restricted cash - End of period 10,853 11,282 11,357 75,667 75,667 49,129 46,709 44,750 37,972 37,972 38,698 44,926 44,339 51,283 51,283 71,601 78,068 76,309 82,920 82,920 84,407 90,655 96,630 147,860 147,860 160,618 188,196 196,586 180,234 180,234 377,071 345,578 372,569 384,053 384,053 355,715 369,484 398,355 448,776 448,776 480,609 483,432 487,518 522,150 522,150 541,474 571,508 651,220 582,532 582,532 613,692 587,286 645,558 623,855 623,855 697,778 808,111 880,267 909,900 909,900 969,123 816,792 647,606 544,358 544,358 551,804 532,977 583,118 682,984 682,984 572,341 750,042 766,050 878,553 878,553 896,741 754,199 794,904 709,105 709,105 642,517 771,788 869,274 698,209 698,209 521,137 573,071 528,284 514,674 514,674 496,452 720,540 883,871 620,040 620,040 363,046 359,184 346,026 403,790 403,790
Less: restricted cash included in other current assets and other assets - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 2,866 2,964 2,789 2,914 2,914 2,283 2,183 2,130 2,322 2,322 - 0 - 0 - 0 - 0 - 0
Cash and cash equivalents - End of period $ 10,853 $ 11,282 $ 11,357 $ 75,667 $ 75,667 $ 49,129 $ 46,709 $ 44,750 $ 37,972 $ 37,972 $ 38,698 $ 44,926 $ 44,339 $ 51,283 $ 51,283 $ 71,601 $ 78,068 $ 76,309 $ 82,920 $ 82,920 $ 84,407 $ 90,655 $ 96,630 $ 147,860 $ 147,860 $ 160,618 $ 188,196 $ 196,586 $ 180,234 $ 180,234 $ 377,071 $ 345,578 $ 372,569 $ 384,053 $ 384,053 $ 355,715 $ 369,484 $ 398,355 $ 448,776 $ 448,776 $ 480,609 $ 483,432 $ 487,518 $ 522,150 $ 522,150 $ 541,474 $ 571,508 $ 651,220 $ 582,532 $ 582,532 $ 613,692 $ 587,286 $ 645,558 $ 623,855 $ 623,855 $ 697,778 $ 808,111 $ 880,267 $ 909,900 $ 909,900 $ 969,123 $ 816,792 $ 647,606 $ 544,358 $ 544,358 $ 548,938 $ 530,013 $ 580,329 $ 680,070 $ 680,070 $ 570,058 $ 747,859 $ 763,920 $ 876,231 $ 876,231 $ 896,741 $ 754,199 $ 794,904 $ 709,105 $ 709,105 $ 642,517 $ 771,788 $ 869,274 $ 698,209 $ 698,209 $ 521,137 $ 573,071 $ 528,284 $ 514,674 $ 514,674 $ 496,452 $ 720,540 $ 883,871 $ 620,040 $ 620,040 $ 363,046 $ 359,184 $ 346,026 $ 403,790 $ 403,790
Supplemental disclosure of cash flow information:
Cash paid for interest $ 716 $ 942 $ 1,449 $ 1,449 $ 242 $ 350 $ 553 $ 741 $ 741 $ 108 $ 849 $ 1,317 $ 1,778 $ 1,778 $ 403 $ 794 $ 1,163 $ 1,461 $ 1,461 $ 281 $ 515 $ 757 $ 998 $ 998 $ 255 $ 514 $ 809 $ 1,089 $ 1,089 $ 251 $ 411 $ 553 $ 864 $ 864 $ 88 $ 165 $ 190 $ 208 $ 208 $ 102 $ 223 $ 302 $ 253 $ 253 $ 293 $ 533 $ 688 $ 873 $ 873 $ 171 $ 349 $ 623 $ 942 $ 942 $ 447 $ 975 $ 1,965 $ 2,583 $ 2,583 $ 799 $ 1,672 $ 2,402 $ 3,052 $ 3,052 $ 749 $ 1,164 $ 1,655 $ 2,683 $ 2,683 $ 447 $ 1,061 $ 1,650 $ 2,234 $ 2,234 $ 703 $ 1,388 $ 1,932 $ 2,714 $ 2,714 $ 857 $ 1,600 $ 2,766 $ 3,214 $ 3,214 $ 525 $ 947 $ 1,110 $ 1,284 $ 1,284 $ 4 $ 94 $ 95 $ 277 $ 277 $ 5 $ 8 $ 136 $ 226 $ 226
Cash paid for income taxes $ 781 $ 1,421 $ 2,010 $ 2,010 $ 3,889 $ 13,940 $ 17,509 $ 16,788 $ 16,788 $ 2,915 $ 5,026 $ 8,924 $ 11,751 $ 11,751 $ 2,795 $ 5,059 $ 4,595 $ 4,929 $ 4,929 $ 1,445 $ 3,504 $ 6,363 $ 7,417 $ 7,417 $ 8,865 $ 14,905 $ 19,465 $ 39,199 $ 39,199 $ 6,755 $ 14,446 $ 20,967 $ 25,980 $ 25,980 $ 47,813 $ 61,308 $ 74,107 $ 89,611 $ 89,611 $ 20,893 $ 41,525 $ 56,730 $ 73,544 $ 73,544 $ 11,899 $ 44,728 $ 65,376 $ 91,329 $ 91,329 $ 11,955 $ 66,478 $ 92,539 $ 126,964 $ 126,964 $ 31,371 $ 80,956 $ 118,660 $ 155,559 $ 155,559 $ 19,546 $ 64,495 $ 94,801 $ 112,762 $ 112,762 $ 51,438 $ 73,855 $ 97,172 $ 116,951 $ 116,951 $ 29,865 $ 53,670 $ 65,895 $ 85,861 $ 85,861 $ 21,340 $ 41,809 $ 35,982 $ 62,998 $ 62,998 $ 25,423 $ 61,715 $ 83,771 $ 113,200 $ 113,200 $ 19,203 $ 58,178 $ 55,001 $ 62,916 $ 62,916 $ 8,005 $ 34,165 $ 38,905 $ 40,632 $ 40,632 $ 10,574 $ 32,918 $ 44,258 $ 57,008 $ 57,008
Cash paid for excise tax on net share repurchases $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ 1,893 $ 1,893 $ - 0 $ - 0 $ - 0 $ 3,113 $ 3,113
Share repurchase program:
Shares Repurchased 42 103 103 108 199 216 275 275 83 215 586 1,052 1,052 - 0 15 196 301 301 109 240 302 302 302 15 200 400 744 744 601 2,983 3,802 5,101 5,101 999 999 1,448 2,117 2,117 958 2,362 3,346 4,088 4,088 $ - 0 $ 491 $ 705 $ 753 753
Weighted Average Price $ 83.33 $ 87.05 $ 87.05 $ 116.43 $ 121.45 $ 124.67 $ 145.15 $ 145.15 $ 242.12 $ 237.97 $ 191.06 $ 167.39 $ 167.39 $ - 0 $ 148.50 $ 132.25 $ 135.20 $ 135.20 $ 116.85 $ 117.53 $ 125.59 $ 125.59 $ 125.59 $ 204.48 $ 208.41 $ 195.30 $ 181.20 $ 181.20 $ 131.02 $ 104.46 $ 100.69 $ 97.91 $ 97.91 $ 112.29 $ 112.29 $ 109.21 $ 104.68 $ 104.68 $ 92.73 $ 88.92 $ 84.79 $ 83.30 $ 83.30 $ - 0 $ 61.10 $ 65.63 $ 66.36 $ 66.36
Purchase of treasury stock net of excise tax, at cost $ 3,483 $ 8,946 $ 8,946 $ 12,539 $ 24,112 $ 26,911 $ 39,987 $ 39,987 $ 20,071 $ 51,064 $ 111,926 $ 176,065 $ 176,065 $ - 0 $ 2,284 $ 25,921 $ 40,732 $ 40,732 $ 12,716 $ 28,230 $ 37,884 $ 37,884 $ 37,884 $ 3,048 $ 41,731 $ 78,071 $ 134,889 $ 134,889 $ 78,757 $ 311,606 $ 382,885 $ 499,506 $ 499,506 $ 113,094 $ 113,031 $ 159,528 $ 223,496 $ 223,496 $ 89,616 $ 212,020 $ 286,479 $ 343,816 $ 343,816 $ (105) $ 30,204 $ 46,603 $ 53,132 $ 53,132
Dollar Value of Shares that May Yet Be Purchased $ 96,517 $ 91,054 $ 91,054 $ 78,515 $ 66,942 $ 64,143 $ 51,067 $ 51,067 $ 30,996 $ - 0 $ 64,138 $ - 0 $ - 0 $ 125,000 $ 122,716 $ 99,079 $ 84,268 $ 84,268 $ 71,552 $ 256,038 $ 246,384 $ 246,384 $ 246,384 $ 243,336 $ 204,653 $ 168,313 $ 111,495 $ 111,495 $ 232,738 $ - 0 $ 228,745 $ 112,153 $ 112,153 $ 0 $ 200,000 $ 153,966 $ 90,518 $ 90,518 $ 301,694 $ 180,484 $ 106,781 $ 50,000 $ 50,000 $ 50,000 $ 20,000 $ 3,708 $ 0 $ 0

&G

Cash Flows

IPG Photonics Corporation FY'06 FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'25
Consolidated Statements of Cash Flows (Quarterly)
(unaudited, in thousands) Cumulative Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended
31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec
Cash flows from operating activities:
Net income (loss) $ 2,549 $ 4,265 $ 4,229 $ (2,071) $ 8,972 $ 6,985 $ 6,604 $ 9,816 $ 8,683 $ 32,088 $ 8,495 $ 9,021 $ 11,482 $ 9,455 $ 38,453 $ 1,026 $ (1,165) $ 2,266 $ 3,157 $ 5,284 $ 3,424 $ 10,345 $ 13,315 $ 27,268 $ 54,352 $ 23,378 $ 31,507 $ 34,269 $ 31,855 $ 121,009 $ 30,548 $ 39,849 $ 42,435 $ 34,912 $ 147,744 $ 35,127 $ 41,720 $ 42,338 $ 36,595 $ 155,780 $ 40,531 $ 48,283 $ 55,200 $ 56,431 $ 200,445 $ 57,346 $ 61,244 $ 62,759 $ 60,678 $ 242,027 $ 49,328 $ 67,032 $ 69,227 $ 75,129 $ 260,716 $ 74,932 $ 104,103 $ 115,597 $ 52,956 $ 347,588 $ 106,334 $ 121,617 $ 100,752 $ 75,466 $ 404,169 $ 54,916 $ 72,521 $ 57,127 $ (4,303) $ 180,261 $ 36,766 $ 38,366 $ 35,530 $ 49,676 $ 160,338 $ 68,222 $ 69,677 $ 74,699 $ 65,268 $ 277,866 $ 69,628 $ 57,331 $ 76,698 $ (92,895) $ 110,762 $ 60,135 $ 62,321 $ 54,994 $ 41,428 $ 218,878 $ 24,099 $ 20,154 $ (233,594) $ 7,815 $ (181,526) $ 3,758 $ 6,605 $ 7,463 $ 13,270 $ 31,096
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: $ - 0 $ - 0
Depreciation and amortization 1,817 1,937 1,910 3,441 9,105 2,725 2,685 3,145 3,749 12,304 3,609 3,916 3,576 4,733 15,834 4,380 4,663 4,981 5,148 19,172 5,226 5,288 5,584 5,747 21,845 5,658 6,297 6,227 5,780 23,962 6,215 6,143 6,810 6,976 26,144 7,217 7,668 8,529 8,110 31,524 8,102 8,986 9,321 9,203 35,612 9,743 10,433 10,903 11,336 42,415 11,394 12,259 13,993 13,829 51,475 14,504 15,210 16,702 18,152 64,568 19,223 19,504 20,167 21,377 80,271 22,802 24,684 25,045 23,737 96,268 24,099 23,251 23,838 23,366 94,554 23,819 24,157 24,151 24,203 96,330 23,435 23,669 22,748 20,712 90,564 17,889 17,454 17,335 16,943 69,621 16,214 15,292 15,117 14,820 61,443 15,341 $ 15,826 $ 15,632 $ 20,055 66,854
Goodwill impairment - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 37,120 37,120 - 0 - 0 44,589 - 0 44,589 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 $ - 0 $ - 0 $ - 0 - 0
Impairment of long-lived assets and restructuring charges (recoveries), net - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 5,350 5,350 - 0 671 - 0 - 0 671 - 0 - 0 - 0 - 0 - 0 - 0 - 0 919 79,030 79,949 - 0 - 0 (486) - 0 (486) - 0 - 0 26,566 440 27,006 - 0 $ - 0 $ - 0 $ - 0 - 0
Deferred income taxes 1,990 1,073 (2,987) (10,235) (10,159) 691 (311) 3,590 4,146 8,116 (2,032) (902) 1,305 4,074 2,445 (4,174) (1,525) (2,420) 4,032 (4,087) (2,409) (357) 693 2,474 401 5,201 1,423 (6,060) (852) (288) 2,854 (2,465) 2,316 2,841 5,546 4,324 (7,709) (4,206) 1,423 (6,168) (2,610) (2,283) (1,061) 4,468 (1,486) 5,708 (7,826) (5,026) (9) (7,153) (2,741) (6,527) (2,786) (854) (12,908) 4,208 325 10,001 8,347 22,881 7,401 (1,304) (3,143) (7,530) (4,576) 9,199 (6,571) (6,842) (11,275) (15,489) (935) 2,526 (11,713) (2,691) (12,813) 3,944 (5,800) (2,901) (2,128) (6,885) (3,397) (7,807) (10,346) (6,025) (27,575) 16,106 (11,041) (9,900) (8,954) (13,789) 4,044 (3,324) (19,483) (6,897) (25,660) 6,476 $ (8,437) $ (5,277) $ (6,442) (13,680)
Stock-based compensation - 0 126 191 216 533 219 290 396 419 1,324 387 617 495 575 2,074 635 570 787 775 2,767 770 793 915 718 3,196 2,607 1,694 1,879 1,868 8,048 1,998 2,201 2,159 2,207 8,565 2,532 2,940 3,132 3,116 11,720 3,267 3,905 3,895 4,105 15,172 4,127 4,735 5,013 5,114 18,989 4,959 5,477 5,663 5,635 21,734 5,351 5,708 5,930 6,032 23,021 6,415 7,309 7,719 6,584 28,027 8,138 8,893 8,540 7,792 33,363 8,430 9,223 8,741 9,078 35,472 8,815 9,863 9,858 9,328 37,864 9,994 10,445 8,762 9,101 38,302 9,576 9,673 8,143 12,110 39,502 9,738 8,544 11,096 7,692 37,070 10,754 $ 11,294 $ 10,745 $ 10,154 42,947
Unrealized losses (gains) on foreign currency transactions - 0 321 264 530 1,115 - 0 - 0 (885) (165) (1,050) (353) 39 (1,538) (1,924) (3,776) 1,513 (498) 62 (54) 1,023 (106) (2,297) 2,078 (563) (888) 744 (193) (733) (582) (764) 1,747 (2,612) 2,349 (234) 1,250 (481) (110) 1,563 (1,207) (235) (1,355) (870) (2,322) 1,050 (3,497) (5,415) 2,003 (481) (1,598) (5,491) 4,802 (2,562) 3,804 (3,746) 2,298 3,462 2,076 2,659 (248) 7,949 (1,991) 935 (723) (891) (2,670) 267 3,918 2,848 3,971 11,004 (19,589) 10,852 (13,022) 1,824 (19,935) (7,800) 6,072 (2,585) (4,247) (8,560) (2,393) 14,977 (4,229) (8,947) (592) (1,877) 61 (2,506) (12) (4,334) (708) 221 369 1,279 1,161 42 $ 2,746 $ 590 $ (4,200) (822)
Loss (Gain) on divestiture and sale of asset - 0 - 0 (21,748) (10,098) (31,846) - 0 - 0 - 0 - 0 - 0 - 0 - 0 190,201 - 0 190,201 - 0 $ - 0 $ - 0 $ - 0 - 0
Other 2,892 1,089 3,066 22,752 29,799 (454) 70 355 (13) (42) 130 (334) (362) 315 (251) (31) 11 (9) (7) (36) (10) (41) 193 1,042 1,184 (293) 823 18 17 565 12 - 0 26 (57) (19) (16) 476 (91) (307) 62 422 (87) 129 (5) 459 50 45 96 319 510 175 119 (101) 2,531 2,724 842 (154) 11 287 986 4 (185) (1,755) (1,650) (3,586) 123 47 684 2,466 3,320 1,015 1,620 4,188 1,819 8,642 1,462 2,109 2,257 2,790 8,618 2,368 1,392 435 (2,541) 1,654 (4,244) (4,639) (4,114) (6,911) (19,908) (12,931) (5,592) 5,688 (860) (13,695) (2,476) $ (3,237) $ (2,101) $ (1,234) (9,048)
Provisions for inventory, warranty & bad debt - 0 298 298 441 1,037 763 1,309 483 1,522 4,077 1,710 1,779 2,556 1,857 7,902 3,728 2,424 2,483 2,718 11,353 1,718 2,757 3,635 3,267 11,377 3,806 3,250 4,803 3,487 15,346 3,799 4,703 6,260 5,205 19,967 3,705 6,550 7,948 11,772 29,975 5,284 6,923 7,699 8,130 28,036 8,017 10,787 10,610 10,571 39,985 8,927 11,532 13,047 12,963 46,469 9,002 13,752 11,936 10,288 44,978 9,318 10,774 10,490 8,280 38,862 9,912 12,785 16,051 25,004 63,752 13,486 10,998 18,075 28,013 70,572 16,685 15,969 17,710 18,077 68,441 16,142 22,502 20,346 94,662 153,652 17,214 14,632 12,043 17,169 61,058 14,761 15,604 46,069 13,943 90,377 11,876 $ 10,204 $ 9,686 $ 11,548 43,314
Changes in assets and liabilities that (used) provided cash: - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 $ - 0 $ - 0 - 0
Accounts receivable (2,439) (35) (4,354) 806 (6,022) (2,351) (2,300) (5,523) (1,118) (11,292) (2,188) (658) (3,391) (2,229) (8,466) 10,281 (2,084) 2,533 (1,461) 9,269 (897) (11,843) (11,365) (3,203) (27,308) (2,086) (14,842) (9,293) 2,533 (23,688) (12,203) (1,098) (23,213) 13,808 (22,706) (8,250) (12,962) (5,730) 16,951 (9,991) (4,373) (16,347) (17,206) (10,592) (48,518) (11,885) (19,863) 11,744 968 (19,036) 8,140 (5,255) (13,738) (591) (11,444) (22,801) (50,833) 17,218 (6,809) (63,225) 7,942 (17,433) (16,567) 7,244 (18,814) 22,853 (43,909) 13,494 17,338 9,776 34,492 (1,481) (30,703) (15,330) (13,022) 7,360 5,165 (24,806) 10,190 (2,091) 2,621 (1,061) 40,957 (8,417) 34,100 (24,642) 766 (1,150) 14,631 (10,395) 32,305 6,155 13,424 (5,057) 46,827 (4,113) $ (18,888) $ 34,374 $ (16,134) (4,761)
Inventories (1,106) (5,283) (6,166) (7,329) (19,884) (3,284) (8,462) (2,853) (706) (15,305) (7,298) (8,453) (6,085) 175 (21,661) 859 827 1,158 2,756 5,600 (3,349) (6,166) (8,490) (9,013) (27,018) (13,720) (21,473) (17,068) (3,878) (56,139) (4,027) (6,121) (6,902) (5,925) (22,975) (6,984) (16,830) (19,891) (6,650) (50,355) (3,856) (11,132) (15,232) (12,026) (42,246) (13,898) (19,313) (18,961) (18,393) (70,565) (19,365) (15,303) (8,146) (10,812) (53,626) (22,408) (3,412) (13,877) (31,383) (71,080) (49,744) (41,270) (31,037) (13,389) (135,440) (19,719) (21,070) (10,243) 22,927 (28,105) (10,429) (4,731) (19,053) (5,687) (39,900) (20,084) (41,136) (44,164) (44,370) (149,754) (50,951) (48,282) (49,726) (40,054) (189,013) (8,989) (3,114) (8,633) 22,559 1,823 1,498 15,543 12,719 17,965 47,725 (8,967) $ (14,870) $ (28,168) $ (913) (52,918)
Prepaid expenses and other current assets (690) (561) (237) 340 (1,148) (3,218) 598 (4,500) 364 (6,756) 618 414 2,498 3,280 6,810 (1,626) 2,024 (662) 943 679 38 353 (1,360) (3,738) (4,707) (4,610) 55 2,807 978 (770) (2,395) 1,099 (2,039) 2,436 (899) (2,212) 709 (1,975) (502) (3,980) (4,731) 5,167 (234) (5,553) (5,351) (723) 2,668 117 (209) 1,853 (178) (474) (3,450) 33 (4,069) (3,972) 1,204 1,208 649 (911) (2,138) 147 (2,934) (2,137) (7,062) 1,284 7,332 2,471 7,318 18,405 (9,119) 6,926 128 (1,737) (3,802) (1,052) (1,135) (6,636) (14,874) (23,697) 3,052 1,870 1,662 15,961 22,545 (10,419) (5,061) 9,976 3,479 (2,025) (7,343) 200 2,642 11,028 6,527 (6,087) $ (2,429) $ (3,073) $ 539 (11,050)
Accounts payable 387 291 582 (918) 342 (93) 2,933 (1,821) 67 1,086 798 (1,267) 988 (2,786) (2,267) (1,156) 821 (1,146) 983 (498) (399) 4,590 (721) (59) 3,411 3,129 1,759 587 (3,490) 1,985 702 1,482 (14) 2,205 4,375 (1,936) 4,444 (4,516) 2,982 974 516 (3,200) 4,008 1,938 3,262 (1,231) 5,653 97 5,287 9,806 (6,749) (1,692) (1,375) 9,409 (407) (1,560) 3,474 1,509 (1,114) 2,309 1,134 8,393 (10,846) (107) (1,426) 1,955 (2,400) (7,692) (2,120) (10,257) 6,054 7,191 (4,426) (10,761) (1,942) 18,980 5,899 1,417 4,701 30,997 (8,448) 11,579 (5,968) (9,337) (12,174) (4,600) (2,872) (2,759) (6,088) (16,319) 274 1,002 2,996 (5,798) (1,526) 5,491 $ 3,449 $ (1,526) $ (3,080) 4,334
Accrued expenses and other liabilities 2,163 (1,187) (3,235) 606 (1,653) (550) 277 1,988 (4,604) (2,889) (649) 319 2,644 (2,618) (304) (697) 291 1,166 (832) (72) 3,634 9,603 2,725 6,157 22,119 (5,975) 3,282 220 (4,338) (6,811) (6,383) 2,461 2,641 (6,874) (8,155) (2,658) 1,778 3,614 (3,015) (281) 3,934 (4,104) 2,823 (4,220) (1,567) (2,774) 377 6,053 (3,043) 613 (8,378) 4,037 8,189 1,632 5,480 (659) 2,761 (293) 7,803 9,612 (9,509) (8,351) (2,235) 429 (19,666) (10,274) 954 (16,793) (11,197) (37,310) (6,477) (9,113) (1,902) 2,740 (14,752) (17,961) 18,556 7,368 16,752 24,715 (31,448) (4,394) (4,485) (3,220) (43,547) (19,120) (8,616) (11,910) (5,047) (44,693) (26,230) (2,035) (8,478) (612) (37,355) (6,965) $ 10,753 $ (4,812) $ 11,291 10,267
Income and other taxes payable (769) 1,180 6,006 748 7,165 (855) (6,262) (2,706) (1,181) (11,004) 2,132 1,798 (790) (5,262) (2,122) 2,772 (69) 2,693 (1,445) 3,951 236 2,537 (1,233) 11,371 12,911 (4,577) 6,406 12,599 (1,499) 12,929 5,186 5,855 7,997 2,080 21,118 (40,243) 7,831 7,226 (5,598) (30,784) (175) (896) 462 6,372 5,763 7,716 (649) 10,434 (7,972) 9,529 14,583 (25,236) 3,214 (3,307) (10,746) (10,081) (11,932) (4,853) 43,585 16,719 5,264 8,762 1,812 19,374 35,212 (57,801) 940 7,113 5,811 (43,937) (21,012) (22,824) 15,491 5,008 (23,337) (14,847) 6,251 45,598 (1,146) 35,856 (14,180) (3,483) (160) 3,691 (14,132) (9,749) (2,898) 24,945 4,755 17,053 (1,125) (18,306) 726 18,026 (679) (11,685) $ (15,232) $ 1,773 $ (6,045) (31,189)
Net cash (used in) provided by operating activities 6,794 3,514 (433) 9,327 19,202 578 (2,569) 1,485 11,163 10,657 5,359 6,289 13,378 9,645 34,671 17,510 6,290 13,892 16,713 54,405 7,876 15,562 5,969 41,468 70,875 13,262 19,988 30,255 31,879 95,384 28,053 51,497 40,825 59,580 179,955 (9,875) 36,505 37,941 63,670 128,241 44,956 34,345 47,482 59,301 186,084 56,781 50,294 93,358 63,049 263,482 64,897 43,407 87,541 101,851 297,696 50,820 82,282 163,748 108,545 405,395 99,653 108,898 71,700 113,050 393,301 43,655 58,124 91,803 129,939 323,521 56,781 73,475 69,761 85,318 285,335 87,543 115,647 101,966 84,544 389,700 16,423 78,738 75,865 41,623 212,649 37,280 66,666 85,978 106,062 295,986 54,596 53,458 66,058 73,784 247,896 13,445 (2,216) 35,306 28,809 75,344
Cash flows from investing activities:
Purchases of and deposits on property, plant and equipment (3,865) (5,189) (5,464) (5,924) (20,442) (7,262) (10,597) (8,599) (7,883) (34,341) (12,962) (7,363) (9,164) (7,622) (37,111) (4,686) (3,040) (1,854) (918) (10,498) (4,953) (3,748) (5,500) (14,173) (28,374) (9,587) (13,199) (11,964) (18,257) (53,007) (13,779) (22,187) (15,749) (16,469) (68,184) (17,746) (16,517) (14,070) (22,586) (70,919) (11,456) (34,325) (26,942) (15,878) (88,601) (14,027) (18,579) (18,153) (19,360) (70,119) (24,960) (45,903) (30,805) (25,374) (127,042) (21,875) (21,757) (55,589) (27,314) (126,535) (39,113) (57,403) (36,839) (26,988) (160,343) (32,988) (53,504) (21,048) (25,996) (133,536) (17,801) (19,569) (24,501) (25,825) (87,696) (27,421) (26,923) (39,513) (29,251) (123,108) (25,177) (34,726) (24,649) (25,589) (110,141) (33,404) (25,735) (26,117) (25,227) (110,483) (28,052) (24,218) (23,088) (23,166) (98,524) (24,818) $ (15,358) $ (20,731) $ (17,891) (78,798)
Purchase of intangible assets - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (2,000) - 0 (2,000) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 $ - 0 $ - 0 $ - 0 - 0
Proceeds from sales of property, plant and equipment - 0 20 103 (33) 90 57 21 - 0 - 0 78 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 89 77 36 34 236 119 135 164 16 434 131 8 92 (67) 164 129 55 1,657 (1,183) 658 99 15,185 153 445 15,882 210 431 114 271 1,026 181 107 60 313 661 139 321 229 200 889 130 128 601 550 1,409 428 217 192 26,025 26,862 1,600 140 28,685 816 31,241 25,262 3,012 264 40 28,578 183 $ 380 $ 42 $ 317 922
Purchases of short-term investments - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (6,950) (6,950) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (106,747) (106,747) (29,899) (32,312) (117,163) (120,134) (299,508) (28,173) (43,071) (75,341) (65,247) (211,832) (70,777) (219,053) (276,668) (198,812) (765,310) (178,101) (161,727) (217,846) 1,325,752 768,078 (308,195) (113,126) (311,408) (378,826) (1,111,555) (513,564) (500,469) (423,160) (503,412) (1,940,605) (475,435) (108,393) (330,770) (202,424) (1,117,022) (343,820) (239,527) (315,108) (334,408) (1,232,863) (226,521) (75,020) (121,635) (289,975) (713,151) (333,009) $ (246,805) $ (286,588) $ (76,921) (943,323)
Proceeds from short-term investments - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 4,450 1,000 - 0 - 0 5,450 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (25,451) (25,451) 7,001 8,686 9,765 (1) 25,451 - 0 - 0 - 0 495 495 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 10,000 31,720 117,088 40,000 198,808 70,370 85,801 31,972 24,372 212,515 70,161 91,457 124,728 183,982 470,328 202,856 131,824 233,821 (1,328,801) (760,300) 186,024 236,888 274,904 401,408 1,099,224 480,163 304,860 441,422 421,092 1,647,537 505,818 419,839 430,226 90,472 1,446,355 279,499 270,380 239,965 284,149 1,073,993 252,890 381,103 332,221 117,250 1,083,464 83,206 $ 274,653 $ 275,872 $ 121,690 755,421
Acquisition of businesses, net of cash acquired - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (748) (3,360) - 0 - 0 (4,108) (450) - 0 - 0 (300) (750) - 0 - 0 (11,596) - 0 (11,596) (5,555) - 0 - 0 - 0 (5,555) - 0 - 0 - 0 - 0 - 0 (4,958) - 0 - 0 - 0 (4,958) - 0 (46,527) - 0 (1,265) (47,792) - 0 (11,307) (39,287) (9,889) (60,483) - 0 (4,422) (1) (104,692) (109,115) (15,115) - 0 - 0 - 0 (15,115) - 0 - 0 - 0 (429) (429) - 0 - 0 - 0 - 0 - 0 (2,000) - 0 - 0 - 0 (2,000) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (66,738) (66,738) - 0 $ - 0 $ - 0 $ 505 505
Proceeds from divestiture, net of cash sold - 0 - 0 52,141 800 52,941 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (25,324) - 0 (25,324) - 0 $ - 0 $ - 0 $ - 0 - 0
Other 1,097 (26) 562 (408) 1,225 11 6 (353) 267 (69) 59 77 55 (148) 43 22 (76) 112 (199) (141) 181 (64) 54 (248) (77) 149 (37) 77 (80) 109 149 (188) (274) (615) (928) 375 32 35 (585) (143) 32 10 24 21 87 60 26 (23) 30 93 46 26 (56) 452 468 (47) (521) 72 144 (352) 76 112 119 108 415 15 194 34 (6) 237 79 36 (98) (24) (7) (2) (545) (531) (437) (1,515) (1,164) 814 104 203 (43) 107 219 120 112 558 157 31 197 42 427 52 $ - 0 $ 17 $ (26) 43
Net cash (used in) provided by investing activities (2,768) (5,195) (4,799) (6,365) (19,127) (7,194) (10,570) (8,952) (14,566) (41,282) (8,453) (6,286) (9,109) (7,770) (31,618) (4,664) (3,116) (1,742) (1,117) (10,639) (5,520) (7,172) (5,446) (14,421) (32,559) (9,888) (13,236) (11,887) (44,088) (79,099) (6,629) (13,689) (17,854) (17,085) (55,257) (22,837) (16,408) (13,999) (22,642) (75,886) (11,305) (34,180) (28,754) (15,841) (90,080) (18,794) (18,545) (18,084) (126,144) (181,567) (44,684) (92,941) (29,279) (107,504) (274,408) 20,374 24,330 (138,020) (77,489) (170,805) (39,443) (188,878) (188,547) (146,131) (562,999) (23,152) (83,106) (4,979) (28,738) (139,975) (139,754) 104,550 (60,874) (3,496) (99,574) (60,694) (222,949) (21,181) (111,458) (416,282) 2,470 277,751 127,244 (110,513) 296,952 (96,018) 5,477 (72,455) (74,558) (237,554) 23,736 284,908 162,635 (262,547) 208,732 (274,386) 12,870 (31,388) 27,674 (265,230)
Cash flow from financing activities:
Proceeds from line-of-credit facilities 3,940 4,577 6,971 1,207 16,695 6,052 14,246 6,745 9,499 36,542 5,926 8,201 6,922 8,644 29,693 13,528 2,974 891 1,663 19,056 4,274 1,269 3,604 4,681 13,828 3,629 3,322 1,732 1,990 10,673 5,027 1,922 2,698 3,113 12,760 8,897 3,074 2,153 2,719 16,843 10,889 4,487 10,675 7,231 33,282 3,616 5,816 (1,926) 5,381 12,887 2,214 1,788 2,028 1,962 7,992 1,934 4,827 - 0 - 0 6,761 255 - 0 - 0 - 0 255 - 0 - 0 15 - 0 15 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 $ - 0 $ - 0 $ - 0 - 0
Payments on line-of-credit facilities (3,938) (2,387) (5,484) (6,473) (18,282) (7,769) (4,349) (2,181) (13,970) (28,269) (2,585) (3,456) (10,641) (5,254) (21,936) (3,298) (1,418) (17,063) (11,072) (32,851) (3,112) (1,921) (5,596) (2,457) (13,086) (4,044) (2,773) (1,281) (2,532) (10,630) (2,333) (7,359) (1,913) (5,585) (17,190) (1,415) (11,176) (2,428) (971) (15,990) (11,861) (4,050) (10,925) (6,787) (33,623) (5,488) (4,721) 429 (5,447) (15,227) (2,223) (1,779) (2,028) (1,962) (7,992) (1,934) (4,827) - 0 - 0 (6,761) (255) - 0 - 0 - 0 (255) - 0 - 0 (15) - 0 (15) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 $ - 0 $ - 0 $ - 0 - 0
Cash contributed by noncontrolling interests - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (596) (596) - 0 - 0 (1,220) (677) (1,897) (455) (53) - 0 - 0 (508) - 0 - 0 - 0 24,714 24,714 - 0 19,973 - 0 (1) 19,972 (700) (55,400) - 0 - 0 (56,100) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (950) - 0 - 0 (950) - 0 (197) - 0 - 0 (197) - 0 - 0 378 461 839 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 $ - 0 $ - 0 $ - 0 - 0
Proceeds on long-term borrowings - 0 - 0 6,376 8 6,384 - 0 - 0 - 0 - 0 - 0 - 0 20,043 1 (3) 20,041 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 23,750 - 0 - 0 23,750 - 0 - 0 28,000 - 0 28,000 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 $ - 0 $ - 0 $ - 0 - 0
Principal payments on long-term borrowings (2,142) (546) (2,540) (5,456) (10,684) (18,177) - 0 - 0 - 0 (18,177) - 0 (19,499) (356) (341) (20,196) (344) (333) (334) (333) (1,344) (333) (334) (333) (333) (1,333) (333) (333) (380) (386) (1,432) (360) (1,116) (372) (269) (2,117) (1,640) (546) (333) (334) (2,853) (333) (334) (333) (667) (1,667) (833) (11,500) (500) (500) (13,333) (500) (500) (797) (797) (2,594) (797) (17,463) (691) (891) (19,842) (895) (899) (902) (908) (3,604) (911) (916) (920) (924) (3,671) (928) (934) (936) (942) (3,740) (946) (950) (955) (959) (3,810) (964) (968) (15,897) (297) (18,126) (298) (15,733) - 0 - 0 (16,031) - 0 - 0 - 0 - 0 - 0 - 0 $ - 0 $ - 0 $ - 0 - 0
Exercise of employee stock options and issuances under employee stock purchase plan 545 360 128 241 1,274 23 828 841 1,368 3,060 310 1,055 994 2,600 4,959 137 340 1,644 1,296 3,417 211 1,055 5,448 (416) 6,298 4,884 (895) 502 777 5,268 749 1,500 2,026 1,205 5,480 720 1,457 1,051 4,047 7,275 611 2,768 351 3,828 7,558 4,409 5,165 915 3,643 14,132 2,644 5,935 607 6,997 16,183 9,600 7,552 6,144 5,358 28,654 3,113 7,518 1,484 68 12,183 (6,149) 6,117 1,676 5,692 7,336 (5,498) 13,769 8,496 16,427 33,194 4,981 5,586 860 4,831 16,258 (724) 2,812 265 3,230 5,583 (3,844) 3,113 299 3,579 3,147 (1,158) 2,950 78 2,325 4,195 (5,775) $ 1,522 $ (63) $ 3,256 (1,060)
Purchase of treasury stock net of excise tax, at cost - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (3,483) (5,463) (8,946) (12,539) (11,573) (2,799) (13,076) (39,987) (20,071) (30,993) (60,862) (64,139) (176,065) - 0 (2,284) (23,637) (14,811) (40,732) (12,716) (15,514) (9,654) - 0 (37,884) (3,048) (38,683) (36,340) (56,818) (134,889) (78,757) (232,849) (71,279) (116,621) (499,506) (113,094) 63 (46,497) (63,968) (223,496) (89,616) (122,404) (74,459) (57,337) (343,816) 105 $ (30,309) $ (16,399) $ (6,529) (53,132)
Purchase of non-controlling interests - 0 - 0 - 0 - 0 - 0 - 0 - 0 (2,500) - 0 (2,500) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 $ - 0 $ - 0 $ - 0 - 0
Proceeds from public offering, net of offering expenses - 0 - 0 - 0 93,169 93,169 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 168,268 (246) (59) (35) 167,928 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 $ - 0 $ - 0 $ - 0 - 0
Distributions to shareholders - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (33,353) (33,353) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 $ - 0 $ - 0 $ - 0 - 0
Other - 0 - 0 (150) (21,497) (21,647) - 0 - 0 23 34 57 - 0 - 0 (75) (137) (212) - 0 - 0 (61) 11 (50) - 0 - 0 (100) - 0 (100) - 0 - 0 - 0 1 1 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 (1,650) - 0 - 0 - 0 (1,650) (2,624) - 0 - 0 (1) (2,625) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 $ - 0 $ - 0 $ - 0 - 0
Net cash (used in) provided by financing activities (1,595) 2,004 5,301 61,199 66,909 (19,871) 10,725 5,428 (3,665) (7,383) 3,651 6,344 (4,375) 4,832 10,452 9,568 1,510 (14,923) (8,435) (12,280) 1,040 69 3,023 26,189 30,321 4,136 19,294 573 (151) 23,852 170,651 (60,699) 2,380 (34,924) 77,408 6,562 (7,191) 443 5,461 5,275 (694) 2,871 (232) 3,605 5,550 1,704 (5,240) (1,082) 3,077 (1,541) 2,135 28,244 (3,673) 737 27,443 (3,736) (21,681) 30,654 (8,609) (3,372) (17,853) (24,374) (59,902) (64,518) (166,647) (7,060) 2,917 (22,881) (10,043) (37,067) (20,792) (2,679) (2,094) 15,485 (10,080) (1,637) (34,047) (36,435) (52,947) (125,066) (80,445) (231,005) (89,411) (113,688) (514,549) (117,236) (12,557) (46,198) (60,389) (236,380) (90,774) (119,454) (74,381) (55,012) (339,621) (5,670) (28,787) (16,462) (3,273) (54,192)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash 61 106 6 149 322 (51) (6) 80 290 313 169 (119) (481) 237 (194) (2,096) 1,783 1,014 (550) 151 (1,909) (2,211) 2,429 (2,006) (3,697) 5,248 1,532 (10,551) (3,992) (7,763) 4,762 (8,602) 1,640 3,913 1,713 (2,188) 863 4,486 3,932 7,093 (1,124) (213) (14,410) (12,433) (28,180) (20,367) 3,525 5,520 (8,670) (19,992) 8,812 (5,116) 3,683 (16,787) (9,408) 6,465 25,402 15,774 7,186 54,827 16,866 (47,977) 7,563 (5,649) (29,197) (5,997) 3,238 (13,802) 8,708 (7,853) (6,878) 2,355 9,215 15,196 19,888 (7,024) (1,193) (3,645) (5,938) (17,800) (5,036) 3,787 (16,212) 11,513 (5,948) (1,098) (7,652) (12,112) 15,275 (5,587) (5,780) 5,176 9,019 (20,056) (11,641) 9,617 $ 14,271 $ (614) 4,554 27,828
Net increase (decrease) in cash, cash equivalents and restricted cash 2,492 429 75 64,310 67,306 (26,538) (2,420) (1,959) (6,778) (37,695) 726 6,228 (587) 6,944 13,311 20,318 6,467 (1,759) 6,611 31,637 1,487 6,248 5,975 51,230 64,940 12,758 27,578 8,390 (16,352) 32,374 196,837 (31,493) 26,991 11,484 203,819 (28,338) 13,769 28,871 50,421 64,723 31,833 2,823 4,086 34,632 73,374 19,324 30,034 79,712 (68,688) 60,382 31,160 (26,406) 58,272 (21,703) 41,323 73,923 110,333 72,156 29,633 286,045 59,223 (152,331) (169,186) (103,248) (365,542) 7,446 (18,827) 50,141 99,866 138,626 (110,643) 177,701 16,008 112,503 195,569 18,188 (142,542) 40,705 (85,799) (169,448) (66,588) 129,271 97,486 (171,065) (10,896) (177,072) 51,934 (44,787) (13,610) (183,535) (18,222) 224,088 163,331 (263,831) 105,366 (256,994) (3,862) (13,158) 57,764 (216,250)
Cash and cash equivalents - Beginning of period 8,361 10,853 11,282 11,357 8,361 75,667 49,129 46,709 44,750 75,667 37,972 38,698 44,926 44,339 37,972 51,283 71,601 78,068 76,309 51,283 82,920 84,407 90,655 96,630 82,920 147,860 160,618 188,196 196,586 147,860 180,234 377,071 345,578 372,569 180,234 384,053 355,715 369,484 398,355 384,053 448,776 480,609 483,432 487,518 448,776 522,150 541,474 571,508 651,220 522,150 582,532 613,692 587,286 645,558 582,532 623,855 697,778 808,111 880,267 623,855 909,900 969,123 816,792 647,606 909,900 544,358 551,804 532,977 583,118 544,358 682,984 572,341 750,042 766,050 682,984 878,553 896,741 754,199 794,904 878,553 709,105 642,517 771,788 869,274 709,105 698,209 521,137 573,071 528,284 698,209 514,674 496,452 720,540 883,871 514,674 620,040 363,046 359,184 346,026 620,040
Cash, cash equivalents and restricted cash - End of period 10,853 11,282 11,357 75,667 75,667 49,129 46,709 44,750 37,972 37,972 38,698 44,926 44,339 51,283 51,283 71,601 78,068 76,309 82,920 82,920 84,407 90,655 96,630 147,860 147,860 160,618 188,196 196,586 180,234 180,234 377,071 345,578 372,569 384,053 384,053 355,715 369,484 398,355 448,776 448,776 480,609 483,432 487,518 522,150 522,150 541,474 571,508 651,220 582,532 582,532 613,692 587,286 645,558 623,855 623,855 697,778 808,111 880,267 909,900 909,900 969,123 816,792 647,606 544,358 544,358 551,804 532,977 583,118 682,984 682,984 572,341 750,042 766,050 878,553 878,553 896,741 754,199 794,904 709,105 709,105 642,517 771,788 869,274 698,209 698,209 521,137 573,071 528,284 514,674 514,674 496,452 720,540 883,871 620,040 620,040 363,046 359,184 346,026 403,790 403,790
Less: restricted cash included in other current assets and other assets - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 2,866 2,964 2,789 - 0 - 0 2,283 2,183 2,130 2,322 2,322 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Cash and cash equivalents - End of period $ 10,853 $ 11,282 $ 11,357 $ 75,667 $ 75,667 $ 49,129 $ 46,709 $ 44,750 $ 37,972 $ 37,972 $ 38,698 $ 44,926 $ 44,339 $ 51,283 $ 51,283 $ 71,601 $ 78,068 $ 76,309 $ 82,920 $ 82,920 $ 84,407 $ 90,655 $ 96,630 $ 147,860 $ 147,860 $ 160,618 $ 188,196 $ 196,586 $ 180,234 $ 180,234 $ 377,071 $ 345,578 $ 372,569 $ 384,053 $ 384,053 $ 355,715 $ 369,484 $ 398,355 $ 448,776 $ 448,776 $ 480,609 $ 483,432 $ 487,518 $ 522,150 $ 522,150 $ 541,474 $ 571,508 $ 651,220 $ 582,532 $ 582,532 $ 613,692 $ 587,286 $ 645,558 $ 623,855 $ 623,855 $ 697,778 $ 808,111 $ 880,267 $ 909,900 $ 909,900 $ 969,123 $ 816,792 $ 647,606 $ 544,358 $ 544,358 $ 548,938 $ 530,013 $ 580,329 $ 682,984 $ 682,984 $ 570,058 $ 747,859 $ 763,920 $ 876,231 $ 876,231 $ 896,741 $ 754,199 $ 794,904 $ 709,105 $ 709,105 $ 642,517 771,788 869,274 698,209 $ 698,209 $ 521,137 573,071 528,284 514,674 $ 514,674 $ 496,452 720,540 883,871 620,040 $ 620,040 363,046 359,184 346,026 403,790 $ 403,790
- 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Supplemental disclosure of cash flow information:
Cash paid for interest $ 226 $ 507 $ 733 $ 242 $ 108 $ 203 $ 188 $ 741 $ 108 $ 741 $ 468 $ 461 $ 1,778 $ 403 $ 391 $ 369 $ 298 $ 1,461 $ 281 $ 234 $ 242 $ 241 $ 998 $ 255 $ 259 $ 295 $ 280 $ 1,089 $ 251 $ 160 $ 142 $ 311 $ 864 $ 88 $ 77 $ 25 $ 18 $ 208 $ 102 $ 121 $ 79 $ (49) $ 253 $ 293 $ 240 $ 155 $ 185 $ 873 $ 171 $ 178 $ 274 $ 319 $ 942 $ 447 $ 528 $ 990 $ 618 $ 2,583 $ 799 $ 873 $ 730 $ 650 $ 3,052 $ 749 $ 415 $ 491 $ 1,028 $ 2,683 $ 447 $ 614 $ 589 $ 584 $ 2,234 $ 703 $ 685 $ 544 $ 782 $ 2,714 $ 857 $ 743 $ 1,166 $ 448 $ 3,214 $ 525 $ 422 $ 163 $ 174 $ 1,284 $ 4 $ 90 $ 1 $ 182 $ 277 $ 5 $ 3 $ 128 $ 90 $ 226
Cash paid for income taxes $ 640 $ 589 $ 1,229 $ 3,889 $ 10,051 $ 3,569 $ (721) $ 16,788 $ 2,915 $ 2,111 $ 3,898 $ 2,827 $ 11,751 $ 2,795 $ 2,264 $ (464) $ 334 $ 4,929 $ 1,445 $ 2,059 $ 2,859 $ 1,054 $ 7,417 $ 8,865 $ 6,040 $ 4,560 $ 19,734 $ 39,199 $ 6,755 $ 7,691 $ 6,521 $ 5,013 $ 25,980 $ 47,813 $ 13,495 $ 12,799 $ 15,504 $ 89,611 $ 20,893 $ 20,632 $ 15,205 $ 16,814 $ 73,544 $ 11,899 $ 32,829 $ 20,648 $ 25,953 $ 91,329 $ 11,955 $ 54,523 $ 26,061 $ 34,425 $ 126,964 $ 31,371 $ 49,585 $ 37,704 $ 36,899 $ 155,559 $ 19,546 $ 44,949 $ 30,306 $ 17,961 $ 112,762 $ 51,438 $ 22,417 $ 23,317 $ 19,779 $ 116,951 $ 29,865 $ 23,805 $ 12,225 $ 19,966 $ 85,861 $ 21,340 $ 20,469 $ (5,827) $ 27,016 $ 62,998 $ 25,423 $ 36,292 $ 22,056 $ 29,429 $ 113,200 $ 19,203 $ 38,975 $ (3,177) $ 7,915 $ 62,916 $ 8,005 $ 26,160 $ 4,740 $ 1,727 $ 40,632 $ 10,574 $ 22,344 $ 11,340 $ 12,750 $ 57,008
Cash paid for excise tax on net share repurchases $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ - 0 $ 1,893 $ 1,893 $ - 0 $ - 0 $ - 0 $ 3,113 $ 3,113
Share repurchase program:
Shares Repurchased 42 61 103 108 91 17 60 275 83 132 371 466 1,052 - 0 15 181 105 301 109 131 61 - 0 302 15 185 200 345 744 601 2,382 819 1,299 5,101 999 - 0 450 669 2,117 958 1,404 984 741 4,088 - 0 491 214 48 753
Weighted Average Price $ 83.33 $ 89.60 $ 87.05 $ 116.43 $ 127.41 $ 161.53 $ 219.27 $ 145.15 $ 242.12 $ 235.37 $ 163.95 $ 137.63 $ 167.39 $ - 0 $ 148.50 $ 130.87 $ 140.71 $ 135.20 $ 116.85 $ 118.09 $ 157.05 $ - 0 $ 125.59 $ 204.48 $ 208.72 $ 182.15 $ 164.84 $ 181.20 $ 131.02 $ 97.76 $ 86.99 $ 89.78 $ 97.91 $ 112.29 $ - 0 $ 102.37 $ 94.86 $ 104.68 $ 92.73 $ 86.32 $ 74.90 $ 76.59 $ 83.30 $ - 0 $ 61.10 $ 75.99 $ 77.14 $ 66.36
Purchase of treasury stock net of excise tax, at cost $ 3,483 $ 5,463 $ 8,946 $ 12,539 $ 11,573 $ 2,799 $ 13,076 $ 39,987 $ 20,071 $ 30,993 $ 60,862 $ 64,139 $ 176,065 $ - 0 $ 2,284 $ 23,637 $ 14,811 $ 40,732 $ 12,716 $ 15,514 $ 9,654 $ - 0 $ 37,884 $ 3,048 $ 38,683 $ 36,340 $ 56,818 $ 134,889 $ 78,757 $ 232,849 $ 71,279 $ 116,621 $ 499,506 $ 113,094 $ (63) $ 46,497 $ 63,968 $ 223,496 $ 89,616 $ 122,404 $ 74,459 $ 57,337 $ 343,816 $ (105) $ 30,309 $ 16,399 $ 6,529 $ 53,132
Dollar Value of Shares that May Yet Be Purchased $ 96,517 $ 91,054 $ 91,054 $ 78,515 $ 66,942 $ 64,143 $ 51,067 $ 51,067 $ 30,996 $ - 0 $ 64,138 $ - 0 $ - 0 $ 125,000 $ 122,716 $ 99,079 $ 84,268 $ 84,268 $ 71,552 $ 256,038 $ 246,384 $ 246,384 $ 246,384 $ 243,336 $ 204,653 $ 168,313 $ 111,495 $ 111,495 $ 232,738 $ - 0 $ 228,745 $ 112,153 $ 112,153 $ 0 $ 200,000 $ 153,966 $ 90,518 $ 90,518 $ 301,694 $ 180,484 $ 106,781 $ 50,000 $ 50,000 $ 50,000 $ 20,000 $ 3,708 $ 0 $ 0

&G

Key Metrics

IPG Photonics Corporation FY'06 FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 FY'25
Key Metrics
(unaudited, in thousands) Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended Quarter Ended Yr Ended
31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec 31-Mar 30-Jun 30-Sep 31-Dec 31-Dec
Revenue by region:
North America $ 45,519 $ 53,272 $ 52,018 $ 45,668 $ 61,706 $ 86,181 $ 108,316 $ 24,231 $ 28,647 $ 31,397 $ 28,778 $ 113,053 $ 22,848 $ 24,765 $ 25,111 $ 39,038 $ 111,762 $ 28,638 $ 26,693 $ 36,255 $ 39,938 $ 131,524 $ 31,727 $ 32,341 $ 36,738 $ 40,378 $ 141,184 $ 37,905 $ 38,964 $ 41,563 $ 46,924 $ 165,356 $ 39,177 $ 47,766 $ 53,762 $ 62,037 $ 202,742 $ 64,807 $ 64,140 $ 71,000 $ 80,939 $ 280,886 $ 67,339 $ 53,901 $ 52,732 $ 72,217 $ 246,189 $ 73,384 $ 66,134 $ 81,605 $ 93,861 $ 314,984 $ 77,225 $ 88,151 $ 82,119 $ 91,218 $ 338,713 $ 76,080 $ 78,220 $ 71,349 $ 88,337 $ 313,986 $ 63,964 $ 76,905 $ 57,294 $ 60,725 $ 258,888 $ 56,372 $ 73,895 $ 62,046 $ 74,870 $ 267,183
Germany 24,454 33,450 44,771 28,242 46,282 76,279 89,848 14,618 16,231 17,926 16,543 65,318 14,765 21,422 20,563 20,653 77,403 22,727 19,326 25,733 26,022 93,808 22,875 23,656 22,130 22,232 90,893 23,362 25,959 34,663 30,625 114,609 33,236 31,989 21,714 24,320 111,259 18,619 23,664 17,204 21,878 81,365 17,411 17,634 16,163 14,438 65,646 26,260 21,748 26,832 26,898 101,738 27,417 22,792 20,622 14,660 85,491 19,833 28,962 23,423 15,808 88,026 20,019 $ 20,809 25,787 21,185 87,800 24,703 22,299 24,499 33,659 105,160
Other Europe 24,037 39,345 49,306 42,171 66,174 103,305 110,860 30,719 30,897 31,249 47,793 140,658 40,527 42,527 39,836 48,728 171,618 42,364 51,217 50,760 44,776 189,117 45,420 53,319 56,655 69,442 224,836 62,584 66,116 83,459 77,913 290,072 82,978 76,347 66,392 71,200 296,917 69,200 61,131 62,196 57,344 249,871 57,232 46,547 54,907 60,854 219,540 58,593 74,339 79,777 76,427 289,136 80,000 75,407 72,332 66,742 294,481 80,420 72,865 71,946 66,105 291,336 59,497 53,722 41,485 42,448 197,152 32,166 34,239 38,194 33,944 138,543
China 14,781 29,937 57,762 104,560 138,782 37,013 58,445 56,273 40,373 192,104 47,241 65,618 72,383 61,175 246,417 56,533 92,879 93,450 69,083 311,945 61,634 96,355 102,062 98,425 358,476 116,674 185,145 175,092 144,372 621,283 149,973 203,026 158,853 117,227 629,079 114,366 163,590 121,290 92,644 491,890 68,599 145,216 148,049 140,414 502,278 139,833 159,075 137,211 112,229 548,348 129,748 137,380 117,952 94,846 479,926 101,287 98,567 84,408 71,059 355,321 62,730 64,875 61,769 55,622 244,996 67,858 74,174 74,135 75,738 291,905
Japan 35,585 32,894 41,310 20,942 35,878 63,261 69,576 17,647 14,370 20,037 16,516 68,570 24,482 14,634 16,672 16,788 72,576 20,808 18,778 13,184 23,263 76,033 19,843 20,340 23,359 25,050 88,592 14,156 19,759 21,050 25,647 80,612 19,629 19,428 21,871 26,691 87,619 15,614 17,406 21,859 16,878 71,757 13,685 14,672 12,884 11,939 53,180 10,877 10,322 14,286 18,592 54,077 12,886 14,741 11,220 19,018 57,865 21,618 16,749 15,829 18,137 72,333 16,698 10,215 14,495 20,944 62,352 11,663 15,803 18,187 20,716 66,369
Other Asia 13,184 29,670 21,491 15,221 30,614 36,937 43,445 17,060 18,256 14,159 15,539 65,014 20,022 21,481 24,061 19,879 85,443 27,154 25,869 23,267 19,204 95,494 25,097 26,366 24,629 23,960 100,052 29,369 32,018 35,975 34,149 131,511 34,207 33,315 31,953 27,777 127,252 31,738 28,929 28,877 32,042 121,586 22,823 16,874 31,227 32,861 103,785 33,110 37,654 35,844 32,540 139,148 38,675 33,695 39,130 40,873 152,373 43,654 38,062 29,741 30,921 142,378 24,978 27,643 29,470 31,141 113,232 33,175 26,793 29,797 32,040 121,805
Rest of World 446 46 5,399 3,713 840 3,959 1,701 564 1,325 1,111 317 3,317 690 1,757 1,025 1,141 4,613 736 376 892 1,340 3,344 652 410 444 634 2,140 1,796 1,412 813 1,425 5,446 664 1,742 1,801 799 5,006 703 4,909 6,712 4,902 17,226 2,153 1,567 2,479 3,907 10,106 3,528 2,386 3,595 3,920 13,429 4,028 4,857 5,631 6,182 20,698 4,282 6,546 4,705 8,526 24,059 4,123 3,476 2,843 2,272 12,714 1,856 3,518 3,934 3,504 12,812
Total revenue $ 143,225 $ 188,677 $ 229,076 $ 185,894 $ 299,256 $ 474,482 $ 562,528 $ 141,852 $ 168,171 $ 172,152 $ 165,859 $ 648,034 $ 170,575 $ 192,204 $ 199,651 $ 207,402 $ 769,832 $ 198,960 $ 235,138 $ 243,541 $ 223,626 $ 901,265 $ 207,248 $ 252,787 $ 266,017 $ 280,121 $ 1,006,173 $ 285,846 $ 369,373 $ 392,615 $ 361,055 $ 1,408,889 $ 359,864 $ 413,613 $ 356,346 $ 330,051 $ 1,459,874 $ 315,047 $ 363,769 $ 329,138 $ 306,627 $ 1,314,581 $ 249,242 $ 296,411 $ 318,441 $ 336,630 $ 1,200,724 $ 345,585 $ 371,658 $ 379,150 $ 364,467 $ 1,460,860 $ 369,979 $ 377,023 $ 349,006 $ 333,539 $ 1,429,547 $ 347,174 $ 339,971 $ 301,401 $ 298,893 $ 1,287,439 $ 252,009 $ 257,645 $ 233,143 $ 234,337 $ 977,134 $ 227,793 $ 250,721 $ 250,792 $ 274,471 $ 1,003,777
- 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Revenue by region (% of total):
North America 31.8% 28.2% 22.7% 24.6% 20.6% 18.2% 19.3% 17.1% 17.0% 18.2% 17.4% 17.4% 13.4% 12.9% 12.6% 18.8% 14.5% 14.4% 11.4% 14.9% 17.9% 14.6% 15.3% 12.8% 13.8% 14.4% 14.0% 13.3% 10.5% 10.6% 13.0% 11.7% 10.9% 11.5% 15.1% 18.8% 13.9% 20.6% 17.6% 21.6% 26.4% 21.4% 27.0% 18.2% 16.6% 21.5% 20.5% 21.2% 17.8% 21.5% 25.8% 21.6% 20.9% 23.4% 23.5% 27.3% 23.7% 21.9% 23.0% 23.7% 29.6% 24.4% 25.4% 29.8% 24.6% 25.9% 26.5% 24.8% 29.5% 24.7% 27.3% 26.6%
Germany 17.1% 17.7% 19.5% 15.2% 15.5% 16.1% 16.0% 10.3% 9.7% 10.4% 10.0% 10.1% 8.7% 11.1% 10.3% 10.0% 10.1% 11.4% 8.2% 10.6% 11.6% 10.4% 11.0% 9.4% 8.3% 7.9% 9.0% 8.2% 7.0% 8.8% 8.5% 8.1% 9.2% 7.7% 6.1% 7.4% 7.6% 5.9% 6.5% 5.2% 7.1% 6.2% 7.0% 5.9% 5.1% 4.3% 5.5% 7.6% 5.9% 7.1% 7.4% 7.0% 7.4% 6.0% 5.9% 4.4% 6.0% 5.7% 8.5% 7.8% 5.3% 6.8% 7.9% 8.1% 11.1% 9.0% 9.0% 10.8% 8.9% 9.8% 12.3% 10.5%
Other Europe 16.8% 20.9% 21.5% 22.7% 22.1% 21.8% 19.7% 21.7% 18.4% 18.2% 28.8% 21.7% 23.8% 22.1% 20.0% 23.5% 22.3% 21.3% 21.8% 20.8% 20.0% 21.0% 21.9% 21.1% 21.3% 24.8% 22.3% 21.9% 17.9% 21.3% 21.6% 20.6% 23.1% 18.5% 18.6% 21.6% 20.3% 22.0% 16.8% 18.9% 18.7% 19.0% 23.0% 15.7% 17.2% 18.1% 18.3% 17.0% 20.0% 21.0% 21.0% 19.8% 21.6% 20.0% 20.7% 20.0% 20.6% 23.2% 21.4% 23.9% 22.1% 22.6% 23.6% 20.9% 17.8% 18.1% 20.1% 14.1% 13.7% 15.2% 12.4% 13.8%
China 6.5% 16.1% 19.3% 22.0% 24.7% 26.1% 34.8% 32.7% 24.3% 29.6% 27.7% 34.1% 36.3% 29.5% 32.0% 28.4% 39.5% 38.4% 30.9% 34.6% 29.7% 38.1% 38.4% 35.1% 35.6% 40.8% 50.1% 44.6% 40.0% 44.1% 41.7% 49.1% 44.6% 35.5% 43.1% 36.3% 45.0% 36.9% 30.2% 37.4% 27.5% 49.0% 46.5% 41.7% 41.8% 40.5% 42.8% 36.2% 30.8% 37.5% 35.1% 36.4% 33.8% 28.4% 33.6% 29.2% 29.0% 28.0% 23.8% 27.6% 24.9% 25.2% 26.5% 23.7% 25.1% 29.8% 29.6% 29.6% 27.6% 29.1%
Japan 24.8% 17.4% 18.0% 11.3% 12.0% 13.3% 12.4% 12.4% 8.5% 11.6% 10.0% 10.6% 14.4% 7.6% 8.4% 8.1% 9.4% 10.5% 8.0% 5.4% 10.4% 8.4% 9.6% 8.0% 8.8% 8.9% 8.8% 5.0% 5.3% 5.4% 7.1% 5.7% 5.5% 4.7% 6.1% 8.1% 6.0% 5.0% 4.8% 6.6% 5.5% 5.5% 5.5% 4.9% 4.0% 3.5% 4.4% 3.1% 2.8% 3.8% 5.1% 3.7% 3.5% 3.9% 3.2% 5.7% 4.0% 6.2% 4.9% 5.3% 6.1% 5.6% 6.6% 4.0% 6.2% 9.0% 6.4% 5.1% 6.3% 7.3% 7.5% 6.6%
Other Asia 9.2% 15.7% 9.4% 8.2% 10.2% 7.8% 7.7% 12.0% 10.9% 8.2% 9.4% 10.0% 11.7% 11.2% 12.1% 9.6% 11.1% 13.6% 11.0% 9.6% 8.6% 10.6% 12.1% 10.4% 9.3% 8.6% 9.9% 10.3% 8.7% 9.2% 9.5% 9.3% 9.5% 8.1% 9.0% 8.4% 8.7% 10.1% 8.0% 8.8% 10.4% 9.2% 9.2% 5.7% 9.8% 9.8% 8.6% 9.6% 10.1% 9.5% 8.9% 9.5% 10.5% 8.9% 11.2% 12.3% 10.7% 12.6% 11.2% 9.9% 10.3% 11.1% 9.9% 10.7% 12.6% 13.3% 11.6% 14.6% 10.7% 11.9% 11.7% 12.1%
Rest of World 0.3% 0.0% 2.4% 2.0% 0.3% 0.8% 0.3% 0.4% 0.8% 0.6% 0.2% 0.5% 0.4% 0.9% 0.5% 0.6% 0.6% 0.4% 0.2% 0.4% 0.6% 0.4% 0.3% 0.2% 0.2% 0.2% 0.2% 0.6% 0.4% 0.2% 0.4% 0.4% 0.2% 0.4% 0.5% 0.2% 0.3% 0.2% 1.3% 2.0% 1.6% 1.3% 0.9% 0.5% 0.8% 1.2% 0.8% 1.0% 0.6% 0.9% 1.1% 0.9% 1.1% 1.3% 1.6% 1.9% 1.4% 1.2% 1.9% 1.6% 2.9% 1.9% 1.6% 1.3% 1.2% 1.0% 1.3% 0.8% 1.3% 1.5% 1.2% 1.3%
Total revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Revenue by application:
Materials processing $ 97,600 $ 140,044 $ 187,720 $ 140,864 $ 42,740 $ 57,265 $ 67,540 $ 84,469 $ 252,014 $ 86,397 $ 107,900 $ 114,292 $ 110,854 $ 419,443 $ 103,188 $ 124,611 $ 137,725 $ 126,489 $ 492,013 $ 133,045 $ 157,618 $ 164,101 $ 153,938 $ 608,702 $ 162,724 $ 185,271 $ 192,288 $ 190,991 $ 731,274 $ 192,003 $ 224,486 $ 223,813 $ 209,033 $ 849,335 $ 198,207 $ 239,056 $ 246,299 $ 258,557 $ 942,119 $ 264,131 $ 353,065 $ 374,725 $ 340,686 $ 1,332,607 $ 339,214 $ 392,001 $ 334,498 $ 308,735 $ 1,374,448 $ 301,085 $ 345,591 $ 306,260 $ 276,275 $ 1,229,211 $ 218,074 $ 271,708 $ 290,028 $ 302,668 $ 1,082,478 $ 317,241 $ 345,653 $ 346,045 $ 316,465 $ 1,325,404 $ 338,963 $ 343,357 $ 312,546 $ 296,396 $ 1,291,262 $ 312,969 $ 314,184 $ 265,226 $ 260,425 $ 1,152,804 $ 226,365 $ 225,773 $ 207,063 $ 198,135 $ 857,336 $ 195,718 $ 212,252 $ 219,427 $ 232,794 $ 860,191
Other applications 45,625 48,633 41,356 45,030 8,464 9,993 12,269 16,516 47,242 13,561 14,036 14,772 12,670 55,039 20,004 13,316 18,654 18,541 70,515 8,807 10,553 8,051 11,921 39,332 7,851 6,933 7,363 16,411 38,558 6,957 10,652 19,728 14,593 51,930 9,041 13,731 19,718 21,564 64,054 21,715 16,308 17,890 20,369 76,282 20,650 21,612 21,848 21,316 85,426 13,962 18,178 22,878 30,352 85,370 31,168 24,703 28,413 33,962 118,246 28,344 26,005 33,105 48,002 135,456 31,016 33,666 36,460 37,143 138,285 34,205 25,787 36,175 38,468 134,635 25,644 31,872 26,080 36,202 119,798 32,075 38,469 31,365 41,677 143,586
Advanced applications 19,224 25,047 24,670 26,557 4,684 5,382 5,684 9,446 25,196 8,232 6,253 5,017 6,416 25,918 43,052 26,190 25,704 28,866 28,166 36,836 43,469 40,779 63,859 69,257 54,308 55,576 53,778 69,594
Communications 15,222 13,062 12,904 10,867 1,854 2,133 5,206 4,827 14,020 3,202 5,866 7,352 3,948 20,368 21,706 9,135 8,523 14,399 28,823 32,023 34,397 30,111 23,144 23,263 13,575 7,488 4,980 18
Medical 11,179 10,524 3,782 7,606 1,926 2,478 1,379 2,243 8,026 2,127 1,917 2,403 2,306 8,753 5,757 4,007 4,331 8,665 7,065 7,423 7,560 14,480 31,243 42,936 70,402 71,571 61,040 73,974
Total revenue $ 143,225 $ 188,677 $ 229,076 $ 185,894 $ 51,204 $ 67,258 $ 79,809 $ 100,985 $ 299,256 $ 99,958 $ 121,936 $ 129,064 $ 123,524 $ 474,482 $ 123,192 $ 137,927 $ 156,379 $ 145,030 $ 562,528 $ 141,852 $ 168,171 $ 172,152 $ 165,859 $ 648,034 $ 170,575 $ 192,204 $ 199,651 $ 207,402 $ 769,832 $ 198,960 $ 235,138 $ 243,541 $ 223,626 $ 901,265 $ 207,248 $ 252,787 $ 266,017 $ 280,121 $ 1,006,173 $ 285,846 $ 369,373 $ 392,615 $ 361,055 $ 1,408,889 $ 359,864 $ 413,613 $ 356,346 $ 330,051 $ 1,459,874 $ 315,047 $ 363,769 $ 329,138 $ 306,627 $ 1,314,581 $ 249,242 $ 296,411 $ 318,441 $ 336,630 $ 1,200,724 $ 345,585 $ 371,658 $ 379,150 $ 364,467 $ 1,460,860 $ 369,979 $ 377,023 $ 349,006 $ 333,539 $ 1,429,547 $ 347,174 $ 339,971 $ 301,401 $ 298,893 $ 1,287,439 $ 252,009 $ 257,645 $ 233,143 $ 234,337 $ 977,134 $ 227,793 $ 250,721 $ 250,792 $ 274,471 $ 1,003,777
Revenue by application (% of total):
Materials processing 68.1% 74.2% 81.9% 75.8% 83.5% 85.1% 84.6% 83.6% 84.2% 86.4% 88.5% 88.6% 89.7% 88.4% 83.8% 90.3% 88.1% 87.2% 87.5% 93.8% 93.7% 95.3% 92.8% 93.9% 95.4% 96.4% 96.3% 92.1% 95.0% 96.5% 95.5% 91.9% 93.5% 94.2% 95.6% 94.6% 92.6% 92.3% 93.6% 92.4% 95.6% 95.4% 94.4% 94.6% 94.3% 94.8% 93.9% 93.5% 94.1% 95.6% 95.0% 93.0% 90.1% 93.5% 87.5% 91.7% 91.1% 89.9% 90.2% 91.8% 93.0% 91.3% 86.8% 90.7% 91.6% 91.1% 89.6% 88.9% 90.3% 90.1% 92.4% 88.0% 87.1% 89.5% 89.8% 87.6% 88.8% 84.6% 87.7% 85.9% 84.7% 87.5% 84.8% 85.7%
Cutting 50.0% 50.0% 51.0% 54.0% 57.0% 49.0% 48.2% 43.1% 34.6% 27.6% 20.6% 16.8%
Welding and brazing 18.0% 18.0% 18.0% 20.0% 15.0% 17.0% 15.4% 20.2% 28.7% 36.1% 36.5% 35.2%
Marking and engraving 15.0% 15.0% 11.0% 9.0% 9.0% 8.0% 7.0% 7.0% 6.7% 5.6% 6.9% 6.7%
Other materials processing 12.0% 11.2% 13.6% 11.6% 13.1% 19.5% 19.6% 20.5% 20.4% 20.2% 23.7% 27.0%
Other applications 31.9% 25.8% 18.1% 24.2% 16.5% 14.9% 15.4% 16.4% 15.8% 13.6% 11.5% 11.4% 10.3% 11.6% 16.2% 9.7% 11.9% 12.8% 12.5% 6.2% 6.3% 4.7% 7.2% 6.1% 4.6% 3.6% 3.7% 7.9% 5.0% 3.5% 4.5% 8.1% 6.5% 5.8% 4.4% 5.4% 7.4% 7.7% 6.4% 7.6% 4.4% 4.6% 5.6% 5.4% 5.7% 5.2% 6.1% 6.5% 5.9% 4.4% 5.0% 7.0% 9.9% 6.5% 12.5% 8.3% 8.9% 10.1% 9.8% 8.2% 7.0% 8.7% 13.2% 9.3% 8.4% 8.9% 10.4% 11.1% 9.7% 9.9% 7.6% 12.0% 12.9% 10.5% 10.2% 12.4% 11.2% 15.4% 12.3% 14.1% 15.3% 12.5% 15.2% 14.3%
Advanced applications 13.4% 13.3% 10.8% 14.3% 9.1% 8.0% 7.1% 9.4% 8.4% 8.2% 5.1% 3.9% 5.2% 5.5% 7.7% 4.0% 3.3% 3.2% 2.8% 2.6% 3.0% 3.1% 5.3% 4.7% 3.8% 4.3% 5.5% 6.9%
Communications 10.6% 6.9% 5.6% 5.8% 3.6% 3.2% 6.5% 4.8% 4.7% 3.2% 4.8% 5.7% 3.2% 4.3% 3.9% 1.4% 1.1% 1.6% 2.9% 2.3% 2.4% 2.3% 1.9% 1.6% 0.9% 0.6% 0.5% 0.0%
Medical 7.8% 5.6% 1.7% 4.1% 3.8% 3.7% 1.7% 2.2% 2.7% 2.1% 1.6% 1.9% 1.9% 1.8% 1.0% 0.6% 0.6% 1.0% 0.7% 0.5% 0.5% 1.1% 2.6% 2.9% 4.9% 5.6% 6.2% 7.4%
Total revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Revenue by product:
High-power CW lasers (1 Kilowatt or Greater) $ 74,572 $ 85,014 $ 95,713 $ 87,485 $ 342,784 $ 99,455 $ 103,698 $ 105,442 $ 115,389 $ 423,984 $ 114,316 $ 131,780 $ 130,917 $ 122,585 $ 499,598 $ 118,220 $ 141,406 $ 153,002 $ 166,040 $ 578,668 $ 167,944 $ 222,204 $ 244,239 $ 233,076 $ 867,463 $ 230,574 $ 266,075 $ 227,462 $ 185,615 $ 909,726 $ 179,019 $ 213,411 $ 184,924 $ 157,391 $ 734,745 $ 119,316 $ 157,478 $ 184,387 $ 184,881 $ 646,062 $ 170,482 $ 189,744 $ 177,787 $ 149,393 $ 687,406 $ 167,691 $ 162,997 $ 152,767 $ 130,279 $ 613,734 $ 154,034 $ 145,992 $ 119,512 $ 105,443 $ 524,981 $ 90,793 $ 82,225 $ 81,325 $ 78,400 $ 332,743 $ 69,415 $ 76,153 $ 76,553 $ 86,704 $ 308,825
Medium-power CW lasers (Less Than 1 Kilowatt) 14,604 19,244 16,966 16,200 67,014 20,593 24,160 23,844 24,829 93,426 25,613 30,941 30,399 27,719 114,672 26,292 30,579 28,003 27,852 112,726 23,136 33,273 33,561 28,735 118,705 25,399 30,972 19,101 20,292 95,764 15,598 15,415 11,891 13,721 56,625 11,253 10,692 11,756 17,095 50,796 15,882 18,177 24,520 $ 21,922 80,501 23,668 18,923 20,639 13,849 77,079 13,839 22,370 20,937 14,526 71,672 16,214 15,758 15,110 16,603 63,685 24,396 20,743 21,135 21,904 88,178
Pulsed lasers 33,230 39,842 34,295 27,285 134,652 28,642 32,427 38,373 31,978 131,420 29,850 32,140 35,046 27,807 124,843 28,625 36,632 34,429 29,284 128,970 32,456 41,106 39,881 35,259 148,702 38,253 41,582 35,408 46,805 162,048 31,437 40,813 33,850 31,575 137,675 31,839 42,577 34,975 49,057 158,448 55,395 61,773 59,051 $ 64,759 240,978 66,932 69,852 55,216 58,677 250,677 56,147 53,002 41,420 35,012 185,581 34,819 42,536 33,470 35,934 146,759 36,661 37,973 34,159 34,458 143,251
QCW lasers 3,928 5,591 6,515 5,477 21,511 5,608 8,075 14,446 6,752 34,881 10,031 15,711 19,849 10,914 56,505 8,600 16,225 11,660 12,128 48,613 21,368 29,482 23,765 13,714 88,329 16,200 20,092 18,276 12,132 66,700 14,166 15,967 12,479 13,828 56,440 9,873 13,708 15,079 11,673 50,333 13,666 15,525 16,312 $ 15,165 60,668 12,780 14,079 11,353 12,000 50,212 11,282 13,840 10,856 12,670 48,648 15,791 10,549 10,180 11,496 48,016 10,894 11,635 14,771 14,472 51,772
Laser and Non-Laser Systems 1,544 3,068 2,580 11,714 18,906 3,860 2,465 4,449 4,299 15,073 3,797 1,812 6,726 7,931 20,266 5,466 3,314 6,275 7,888 22,943 7,845 6,746 10,562 15,256 40,409 9,471 13,428 14,701 21,730 59,330 32,631 39,383 32,929 36,704 141,647 18,634 24,942 20,841 29,310 93,727 27,116 29,597 32,523 $ 37,406 126,642 34,597 38,443 35,930 44,501 153,471 41,384 38,187 37,493 44,113 161,177 37,503 38,668 35,265 27,709 139,145 33,054 39,754 35,590 38,845 147,243
Other revenue (amplifiers, service, parts, accessories and change in deferred) 13,974 15,412 16,083 17,698 63,167 12,417 21,379 13,097 24,155 71,048 15,353 22,754 20,604 26,670 85,381 20,045 24,631 32,648 36,929 114,253 33,097 36,562 40,607 35,015 145,281 39,967 41,464 41,398 43,477 166,306 42,196 38,780 53,065 53,408 187,449 58,327 47,014 51,403 44,614 201,358 63,044 56,842 68,957 $ 75,822 264,665 64,311 72,729 73,101 74,233 284,374 70,488 66,580 71,183 87,129 295,380 56,889 67,909 57,793 64,195 246,786 53,373 64,463 68,584 78,088 264,508
Total revenue $ 141,852 $ 168,171 $ 172,152 $ 165,859 $ 648,034 $ 170,575 $ 192,204 $ 199,651 $ 207,402 $ 769,832 $ 198,960 $ 235,138 $ 243,541 $ 223,626 $ 901,265 $ 207,248 $ 252,787 $ 266,017 $ 280,121 $ 1,006,173 $ 285,846 $ 369,373 $ 392,615 $ 361,055 $ 1,408,889 $ 359,864 $ 413,613 $ 356,346 $ 330,051 $ 1,459,874 $ 315,047 $ 363,769 $ 329,138 $ 306,627 $ 1,314,581 $ 249,242 $ 296,411 $ 318,441 $ 336,630 $ 1,200,724 $ 345,585 $ 371,658 $ 379,150 $ 364,467 $ 1,460,860 $ 369,979 $ 377,023 $ 349,006 $ 333,539 $ 1,429,547 $ 347,174 $ 339,971 $ 301,401 $ 298,893 $ 1,287,439 $ 252,009 $ 257,645 $ 233,143 $ 234,337 $ 977,134 $ 227,793 $ 250,721 $ 250,792 $ 274,471 $ 1,003,777
0 0 0 0
Revenue by product:
High-power CW lasers (1 Kilowatt or Greater) 52.9% 58.3% 54.0% 52.8% 55.6% 55.1% 57.5% 56.0% 53.8% 54.8% 55.4% 57.0% 55.9% 57.5% 59.3% 57.5% 58.8% 60.2% 62.2% 64.6% 61.6% 64.1% 64.3% 63.8% 56.2% 62.3% 56.8% 58.7% 56.2% 51.3% 55.9% 47.9% 53.1% 57.9% 54.9% 53.8% 49.3% 51.1% 46.9% 41.0% 47.1% 45.3% 43.2% 43.8% 39.1% 42.9% 44.4% 42.9% 39.7% 35.3% 40.8% 36.0% 31.9% 34.9% 33.5% 34.1% 30.5% 30.4% 30.5% 31.6% 30.8%
Medium-power CW lasers (Less Than 1 Kilowatt) 10.3% 12.1% 12.6% 11.9% 12.0% 12.1% 12.9% 13.2% 12.5% 12.4% 12.7% 12.7% 12.1% 10.5% 9.9% 11.2% 8.1% 9.0% 8.5% 8.0% 8.4% 7.1% 7.5% 5.4% 6.1% 6.6% 5.0% 4.2% 3.6% 4.5% 4.3% 4.5% 3.6% 3.7% 5.1% 4.2% 4.6% 4.9% 6.5% 6.0% 5.5% 6.4% 5.0% 5.9% 4.2% 5.4% 4.0% 6.6% 6.9% 4.9% 5.6% 6.4% 6.1% 6.5% 7.1% 6.5% 10.7% 8.3% 8.4% 8.0% 8.8%
Pulsed lasers 20.8% 16.8% 16.9% 19.2% 15.4% 17.1% 15.0% 13.7% 14.4% 12.4% 13.9% 13.8% 14.5% 12.9% 10.5% 12.8% 11.4% 11.1% 10.2% 9.8% 10.6% 10.6% 10.1% 9.9% 14.2% 11.1% 10.0% 11.2% 10.3% 10.3% 10.5% 12.8% 14.4% 11.0% 14.6% 13.2% 16.0% 16.6% 15.6% 17.8% 16.5% 18.1% 18.5% 15.8% 17.6% 17.5% 16.2% 15.6% 13.7% 11.7% 14.4% 13.8% 16.5% 14.4% 15.3% 15.0% 16.1% 15.1% 13.6% 12.6% 14.3%
QCW lasers 3.3% 3.3% 4.2% 7.2% 3.3% 4.5% 5.0% 6.7% 8.2% 4.9% 6.3% 4.1% 6.4% 4.4% 4.3% 4.8% 7.5% 8.0% 6.1% 3.8% 6.3% 4.5% 4.9% 5.1% 3.7% 4.6% 4.5% 4.4% 3.8% 4.5% 4.3% 4.0% 4.6% 4.7% 3.5% 4.2% 4.0% 4.2% 4.3% 4.2% 4.2% 3.5% 3.7% 3.3% 3.6% 3.5% 3.2% 4.1% 3.6% 4.2% 3.8% 6.3% 4.1% 4.4% 4.9% 4.9% 4.8% 4.6% 5.9% 5.3% 5.2%
Laser and Non-Laser Systems 2.9% 2.3% 1.3% 2.2% 2.1% 2.0% 1.9% 0.8% 2.8% 3.5% 2.2% 2.6% 1.3% 2.4% 2.8% 2.3% 2.7% 1.8% 2.7% 4.2% 2.9% 2.6% 3.2% 4.1% 6.6% 4.1% 10.4% 10.8% 10.0% 12.0% 10.8% 7.5% 8.4% 6.5% 8.7% 7.8% 7.8% 8.0% 8.6% 10.3% 8.7% 9.4% 10.2% 10.3% 13.3% 10.7% 11.9% 11.2% 12.4% 14.8% 12.5% 14.9% 15.0% 15.1% 11.8% 14.2% 14.5% 15.9% 14.2% 14.2% 14.7%
Other revenue (amplifiers, service, parts, accessories and change in deferred) 9.7% 7.3% 11.1% 6.6% 11.6% 9.2% 7.7% 9.7% 8.5% 11.9% 9.5% 9.7% 9.7% 12.3% 13.2% 11.4% 11.6% 9.9% 10.3% 9.7% 10.3% 11.1% 10.0% 11.6% 13.2% 11.4% 13.4% 10.7% 16.1% 17.4% 14.3% 23.4% 15.9% 16.1% 13.3% 16.8% 18.2% 15.3% 18.2% 20.8% 18.1% 17.4% 19.3% 20.9% 22.3% 19.9% 20.3% 19.6% 23.6% 29.2% 22.9% 22.6% 26.4% 24.8% 27.4% 25.3% 23.4% 25.7% 27.4% 28.6% 26.3%
Total revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Total backlog of orders
Orders with firm shipment dates $ 47,000 $ 47,800 $ 98,600 $ 124,100 $ 102,000 $ 132,600 $ 174,500 $ 185,100 $ 226,700 $ 326,100 $ 338,737 $ 285,093 $ 376,032 487,337 500,900 401,100 371,100 399,000
Frame agreements 22,300 20,300 73,000 82,900 101,000 132,400 146,500 257,400 187,200 417,400 373,559 408,336 297,649 241,729 310,100 290,300 265,100 232,500
Total backlog of orders $ 51,800 $ 72,600 $ 69,300 $ 68,100 $ 171,600 $ 207,000 $ 203,000 $ 265,000 $ 321,000 $ 442,500 $ 413,900 $ 743,500 $ 712,296 $ 693,429 $ 673,681 $ 729,066 $ 811,000 $ 691,400 $ 636,200 $ 631,500
% revenue from five largest customers (quarter data is cumulative) 29% 24% 23% 21% 20% 20% 22% 21% 20% 17% 17% 15% 13% 12% 12% 12% 18% 17% 18% 19% 19% 15% 18% 20% 17% 17% 17% 18% 17% 16% 16% 22% 22% 23% 21% 21% 22% 24% 24% 23% 23% 27% 24% 28% 25% 25% 23% 21% 21% 22% 22% 25% 27% 28% 28% 28% 25% 28% 28% 26% 26% 23% 24% 23% 21% 21% 21% 22% 25% 24% 24% 24% 23% 21% 19% 19% 20% 19% 16% 15% 15% 19% 17% 14% 13% 13% 13% 13% 12% 13% 13% 14% 15% 15% 16% 16%
Foreign exchange impact on results (1)
Revenue $ 7,200 $ 3,200 $ 3,000 $ 2,100 $ (1,500) $ 6,800 $ (2,100) $ (2,000) $ (200) $ 2,800 $ (1,500) $ 1,200 $ (2,600) $ (1,700) $ (1,500) $ (4,500) $ 1,200 $ 7,400 $ 7,300 $ 1,300 $ 17,200 $ (900) $ (4,300) $ (7,800) $ (1,300) $ (14,300) $ (1,600) $ (100) $ - 0 $ (1,000) $ (2,700) $ 600 $ 2,700 $ (800) $ (10,600) $ (8,500) $ (21,600) $ (19,700) $ (20,600) $ (15,000) $ (76,900) $ (5,400) $ (3,200) $ (2,000) $ (5,500) $ (16,100) $ (9,700) $ (11,400) $ 4,700 $ 14,400 $ (2,000) $ 29,800 $ 22,500 $ (8,400) $ (10,100) $ 33,800 $ (14,700) $ (18,100) $ (7,900) $ (3,700) $ (44,500) $ (5,400) $ (8,000) $ 4,200 $ 11,700 $ 2,500 $ 16,900 $ 22,900 $ 9,100 $ (3,000) $ 45,900 $ (9,670) $ (18,390) $ (25,980) $ (24,990) $ (79,020) $ (15,311) $ (8,774) $ (5,717) $ (5,085) $ (34,890) $ (7,801) $ (5,931) $ 514 $ (2,409) $ (15,630) $ (4,572) $ 3,501 $ 3,351 $ 5,835 $ 8,120
Gross profit (500) (1,400) (600) 400 (2,100) 400 (1,400) (200) - 0 (1,600) (100) 3,600 3,400 200 7,100 (500) (2,300) (5,000) (800) (7,800) (1,000) - 0 - 0 (500) (1,500) 900 400 (600) (5,600) (6,300) (10,900) (9,900) (9,500) (7,600) (37,900) (2,800) (1,100) (1,100) (3,600) (8,600) (7,200) (7,900) 2,500 8,700 (4,300) 18,600 14,900 (4,200) (5,600) 23,300 (7,800) (10,400) (4,200) (1,800) (23,900) (2,600) (4,100) 2,900 7,500 3,700 10,000 12,800 5,600 (1,400) 27,000 $ (4,360) $ (10,080) $ (13,720) $ (16,240) (46,480) $ (8,219) $ (4,937) $ (4,360) $ (3,631) $ (21,240) $ (4,695) $ (2,834) $ (706) $ (1,037) $ (9,180) $ (2,011) $ 1,200 $ 1,133 $ 217 $ 1,510
Operating expenses (1,000) (300) (200) 600 (900) 500 (100) (300) (500) (300) 100 1,000 900 100 2,000 (200) (700) (1,200) - 0 (2,100) (100) (200) 100 100 (100) (600) (200) (500) (2,400) (3,600) (4,100) (4,000) (4,100) (2,700) (15,000) (1,100) (1,000) (100) - 0 (2,200) 800 500 900 1,400 3,600 1,900 200 (1,600) (2,100) (1,300) (2,600) (1,800) (200) (1,200) (5,800) (900) (2,300) (1,300) (1,700) (6,200) (600) 1,300 500 (200) 1,000 $ (2,660) $ (160) $ (460) $ 8,800 8,990 $ (192) $ (1,905) $ (1,168) $ (1,655) $ (4,920) $ (1,899) $ (1,306) $ 88 $ (900) $ (3,780) $ (1,086) $ 934 $ 1,083 $ 1,713 $ 2,650
Constant currency results (1)
Revenue $ 181,477 $ 49,676 $ 52,994 $ 59,912 $ 59,694 $ 222,276 $ 47,508 $ 42,385 $ 46,008 $ 51,493 $ 187,394 $ 50,004 $ 69,858 $ 81,509 $ 102,485 $ 303,856 $ 98,758 $ 114,536 $ 121,764 $ 122,224 $ 457,282 $ 124,092 $ 142,227 $ 164,179 $ 146,330 $ 576,828 $ 143,452 $ 168,271 $ 172,152 $ 166,859 $ 650,734 $ 169,975 $ 189,504 $ 200,451 $ 218,002 $ 777,932 $ 220,560 $ 254,838 $ 264,141 $ 238,626 $ 978,165 $ 212,648 $ 255,987 $ 268,017 $ 285,621 $ 1,022,273 $ 295,546 $ 380,773 $ 387,915 $ 346,655 $ 1,410,889 $ 330,064 $ 391,113 $ 364,746 $ 340,151 $ 1,426,074 $ 329,747 $ 381,869 $ 337,038 $ 310,327 $ 1,358,981 $ 254,642 $ 304,411 $ 314,241 $ 324,930 $ 1,198,224 $ 328,685 $ 348,758 $ 370,050 $ 367,467 $ 1,414,960 $ 379,649 $ 395,413 $ 374,986 $ 358,529 $ 1,508,577 $ 362,485 $ 348,745 $ 307,118 $ 303,978 $ 1,322,326 $ 259,810 $ 263,576 $ 232,629 $ 236,746 $ 992,761 $ 232,365 $ 247,220 $ 247,441 $ 268,636 $ 995,662
Revenue growth (year over year) 27% 19% 21% 25% 8% 18% -10% -24% -26% -12% -18% 10% 73% 78% 89% 63% 93% 70% 53% 21% 53% 24% 17% 27% 18% 22% 16% 22% 10% 15% 16% 20% 13% 16% 31% 20% 29% 33% 32% 15% 27% 7% 9% 10% 28% 13% 43% 51% 46% 24% 40% 15% 6% -7% -6% 1% -8% -8% -5% -6% -7% -19% -16% -5% 6% -9% 32% 18% 16% 9% 18% 10% 6% -1% -2% 3% -2% -8% -12% -9% -8% -25% -22% -23% -21% -23% -8% -4% 6% 15% 2%
Gross profit 16,361 13,172 17,323 19,512 66,368 20,147 31,861 40,131 55,519 147,658 53,766 63,106 67,059 66,224 250,155 69,184 77,210 90,959 75,974 313,327 76,641 89,922 92,813 82,022 341,398 88,384 103,827 109,690 119,517 421,418 118,727 138,603 142,804 129,643 529,777 117,210 138,804 145,891 158,936 560,841 164,467 214,196 222,055 200,093 800,811 184,762 220,075 199,384 172,348 776,569 156,711 190,637 157,058 126,003 630,409 105,476 140,549 149,892 139,379 535,296 153,991 167,728 180,274 167,405 669,398 176,181 182,424 164,144 77,064 601,893 155,157 152,628 137,262 117,798 562,938 102,231 99,020 54,795 91,381 347,335 91,823 92,373 97,872 98,856 379,953
Gross margin 34.4% 31.1% 37.7% 37.9% 35.4% 40.3% 45.6% 49.2% 54.2% 48.6% 54.4% 55.1% 55.1% 54.2% 54.7% 55.8% 54.3% 55.4% 51.9% 54.3% 53.4% 53.4% 53.9% 49.2% 52.5% 52.0% 54.8% 54.7% 54.8% 54.2% 53.8% 54.4% 54.1% 54.3% 54.2% 55.1% 54.2% 54.4% 55.6% 54.9% 55.6% 56.3% 57.2% 57.7% 56.8% 56.0% 56.3% 54.7% 50.7% 54.5% 47.5% 49.9% 46.6% 40.6% 46.4% 41.4% 46.2% 47.7% 42.9% 44.7% 46.9% 48.1% 48.7% 45.6% 47.3% 46.4% 46.1% 43.8% 21.5% 39.9% 42.8% 43.8% 44.7% 38.8% 42.6% 39.3% 37.6% 23.6% 38.6% 35.0% 39.5% 37.4% 39.6% 36.8% 38.2%
Operating profit 1,525 (186) 4,048 4,870 10,257 5,431 17,011 20,445 38,314 81,201 34,298 43,522 46,732 45,970 170,522 45,477 58,045 63,807 48,059 215,388 50,546 59,675 59,873 49,453 219,547 56,289 68,149 77,689 82,831 284,958 88,822 93,343 94,962 87,916 365,043 71,719 95,108 95,086 108,801 370,714 109,481 149,542 158,622 140,967 558,612 124,400 147,691 126,463 99,552 498,106 73,515 99,690 78,145 843 252,193 46,496 49,009 37,213 56,041 188,759 78,242 80,752 96,886 86,003 341,883 94,843 81,595 106,422 (63,440) 224,970 83,453 75,095 58,898 30,754 248,293 21,896 13,568 (252,552) 14,089 (202,854) 2,752 (162) 7,805 4,814 14,244
Operating margin 3.2% -0.4% 8.8% 9.5% 5.5% 10.9% 24.4% 25.1% 37.4% 26.7% 34.7% 38.0% 38.4% 37.6% 37.3% 36.6% 40.8% 38.9% 32.8% 37.3% 35.2% 35.5% 34.8% 29.6% 33.7% 33.1% 36.0% 38.8% 38.0% 36.6% 40.3% 36.6% 36.0% 36.8% 37.3% 33.7% 37.2% 35.5% 38.1% 36.3% 37.0% 39.3% 40.9% 40.7% 39.6% 37.7% 37.8% 34.7% 29.3% 34.9% 22.3% 26.1% 23.2% 0.3% 18.6% 18.3% 16.1% 11.8% 17.2% 15.8% 23.8% 23.2% 26.2% 23.4% 24.2% 25.0% 20.6% 28.4% -17.7% 14.9% 23.0% 21.5% 19.2% 10.1% 18.8% 8.4% 5.1% -108.6% 6.0% -20.4% 1.2% -0.1% 3.2% 1.8% 1.4%
Long-lived assets by region
United States 32,798 44,560 61,943 57,898 59,072 67,550 86,226 110,441 155,428 170,981 230,116 273,947 346,343 366,059 $ 362,395 $ 390,255 $ 388,111 $ 384,088 $ 375,757 $ 363,038
Germany 30,108 41,112 48,424 46,567 41,065 40,983 47,019 52,791 51,528 53,678 61,792 83,826 76,359 86,881 86,980 89,017 111,726 132,218 167,867 $ 229,636
Other 4,247 10,698 16,083 15,871 25,166 50,468 82,249 93,122 78,701 73,432 99,178 116,081 131,030 165,020 162,573 170,193 90,427 97,426 61,176 66,499
Total long-lived assets by region 67,153 96,370 126,450 120,336 125,303 159,001 215,494 256,354 285,657 298,091 391,086 473,854 553,732 617,960 $ 611,948 $ 649,465 $ 590,264 $ 613,732 $ 604,800 $ 659,173
Long-lived assets by region (% of total):
United States 49% 46% 49% 48% 47% 42% 40% 43% 54% 57% 59% 58% 63% 59% 59% 60% 66% 63% 62% 55%
Germany 45% 43% 38% 39% 33% 26% 22% 21% 18% 18% 16% 18% 14% 14% 14% 14% 19% 22% 28% 35%
Other 6% 11% 13% 13% 20% 32% 38% 36% 28% 25% 25% 24% 24% 27% 27% 26% 15% 16% 10% 10%
Total long-lived assets by region 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Employees by function
Research and development 46 69 135 139 146 185 263 269 329 411 473 556 697 665 660 676 500 590 410 440
Manufacturing operations 886 1,062 1,101 1,091 1,411 1,801 1,997 2,389 2,558 3,213 3,577 4,261 4,775 4,567 4,728 5,062 4,950 4,720 3,550 3,590
Sales, service and marketing 35 47 62 71 87 89 109 121 145 148 190 240 331 353 345 330 340 380 380 390
General and administrative 80 129 136 131 151 188 193 207 231 249 271 332 428 449 483 455 440 490 400 420
Total employees 1,047 1,307 1,434 1,432 1,795 2,263 2,562 2,986 3,263 4,021 4,511 5,389 6,231 6,034 6,216 6,523 6,230 6,180 4,740 4,840
Employees by region
United States 303 377 400 383 477 658 786 996 1,079 1,412 1,636 2,020 2,493 2,297 2,286 2,202 2,190 2,310 1,940 2,070
Germany 384 466 507 517 644 784 867 967 1,032 1,133 1,156 1,297 1,349 1,248 1,315 1,261 1,370 1,490 1,630 1,650
Other 360 464 527 532 674 821 909 1,023 1,152 1,476 1,719 2,072 2,389 2,489 2,615 3,060 2,670 2,380 1,170 1,070
Total employees 1,047 1,307 1,434 1,432 1,795 2,263 2,562 2,986 3,263 4,021 4,511 5,389 6,231 6,034 6,216 6,523 6,230 6,180 4,740 4,790
Total devices and customers
Devices shipped >15,000 >25,000 >27,000 >24,800 >32,800 >37,500 >46,000 >43,000 ~40,000 >39,000 >51,000 >49,000 >42,400 >32,400 >37,800
(1) Assumes exchange rates in current period were the same as the year-ago period

&G

IPG Photonics Corporation published this content on February 11, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on February 12, 2026 at 13:19 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]