<SEC-DOCUMENT>0001111928-19-000069.txt : 20190430
<SEC-HEADER>0001111928-19-000069.hdr.sgml : 20190430
<ACCEPTANCE-DATETIME>20190430080015
ACCESSION NUMBER:		0001111928-19-000069
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20190430
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190430
DATE AS OF CHANGE:		20190430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IPG PHOTONICS CORP
		CENTRAL INDEX KEY:			0001111928
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				043444218
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33155
		FILM NUMBER:		19778528

	BUSINESS ADDRESS:	
		STREET 1:		50 OLD WEBSTER ROAD
		CITY:			OXFORD
		STATE:			MA
		ZIP:			01540
		BUSINESS PHONE:		5083731100

	MAIL ADDRESS:	
		STREET 1:		50 OLD WEBSTER ROAD
		CITY:			OXFORD
		STATE:			MA
		ZIP:			01540
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ipgp-20190331x8kpressr.htm
<DESCRIPTION>8-K
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2019 Workiva -->
<title>Document</title></head><body><div id="i_0_1"></div><div style="height:45pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-weight:700;line-height:120%;">UNITED STATES</font></div><div style="text-indent:3pt;text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-weight:700;line-height:120%;">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">Washington, D.C. 20549</font></div><div><font><br></font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-weight:700;line-height:120%;">FORM 8-K</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">CURRENT REPORT</font></div><div><font><br></font></div><div style="text-indent:3pt;text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">Pursuant to Section&#160;13 or 15(d) of the Securities Exchange Act of 1934</font></div><div><font><br></font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">April&#160;30, 2019</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;line-height:120%;">Date of Report (Date of earliest event reported)</font></div><div><font><br></font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:18pt;font-weight:700;line-height:120%;">IPG PHOTONICS CORPORATION</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;line-height:120%;">(Exact name of registrant as specified in its charter)</font></div><div style="text-align:center;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:98.830409%;"><tr><td style="width:1.0%;"></td><td style="width:26.106509%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:4.804734%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:27.142012%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:4.804734%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:27.142012%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:100%;">Delaware</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:100%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:400;line-height:100%;">(State or Other Jurisdiction</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:400;line-height:100%;">&#160;of Incorporation)</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:100%;">&#160;</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:100%;">&#160;</font></div></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:100%;">001-33155</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:100%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:400;line-height:100%;">(Commission File No.)</font></div></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:100%;">04-3444218</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:400;line-height:100%;">&#160;(IRS Employer</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:400;line-height:100%;">&#160;Identification No.)</font></div></td></tr></table></div><div><font><br></font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">50 Old Webster Road</font></div><div style="text-indent:3pt;text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">Oxford, Massachusetts 01540</font></div><div style="text-indent:3pt;text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;line-height:120%;">(Address of Principal Executive Offices, including Zip Code)</font></div><div><font><br></font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Registrant&#8217;s telephone number, including area code&#58; (508)&#160;373-1100</font></div><div><font><br></font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">Not Applicable</font></div><div style="text-indent:3pt;text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;line-height:120%;">(Former Name or Former Address, if Changed Since Last Report)</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions&#58;</font></div><div style="margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:94.298246%;"><tr><td style="width:0.1%;"></td><td style="width:2.031008%;"></td><td style="width:0.1%;"></td><td style="width:0.1%;"></td><td style="width:2.031008%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:89.937984%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Wingdings;font-size:10pt;font-weight:400;line-height:100%;">o</font></div></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:100%;">Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425)</font></div></td></tr><tr><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Wingdings;font-size:10pt;font-weight:400;line-height:100%;">o</font></div></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:100%;">Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div></td></tr><tr><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Wingdings;font-size:10pt;font-weight:400;line-height:100%;">o</font></div></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:100%;">Pre-commencement communications pursuant to Rule&#160;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div></td></tr><tr><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Wingdings;font-size:10pt;font-weight:400;line-height:100%;">o</font></div></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:100%;">Pre-commencement communications pursuant to Rule&#160;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div></td></tr></table></div><div><font><br></font></div><div id="i_0_4"></div><div style="margin-top:10pt;"></div><div style="position:relative;width:100%;height:45pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="height:45pt;width:100%;"><div><font><br></font></div></div><div style="margin-top:10pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;"><a href="#c3f48eee3c544d18b529bb5de3482a24_0" style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;text-decoration: none;">Item&#160;2.02. Results of Operations and Financial Condition</a></font></div><div style="text-indent:24pt;margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">On </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">April&#160;30, 2019</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, IPG Photonics Corporation (the &#34;Company&#34;) announced its financial results for the quarter ended </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">March&#160;31, 2019</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">. The full text of the press release issued in connection with the announcement is furnished as Exhibit&#160;99.1 to this Current Report on Form 8-K.</font></div><div style="text-indent:24pt;margin-top:9pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K, including Exhibit&#160;99.1 referenced herein, shall not be deemed &#34;filed&#34; for purposes of Section&#160;18 of the Securities Act of 1934, as amended (the &#34;Exchange Act&#34;), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.</font></div><div id="i_0_13"></div><div style="margin-top:10pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;"><a href="#c3f48eee3c544d18b529bb5de3482a24_0" style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;text-decoration: none;">Item&#160;9.01. Financial Statements and Exhibits</a></font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">(d)&#160;Exhibits</font></div><div style="text-indent:24pt;margin-top:9pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Exhibit 99.1 relating to Item&#160;2.02 shall be deemed to be furnished, and not filed&#58;</font></div><div style="margin-top:9pt;margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:97.807018%;"><tr><td style="width:1.0%;"></td><td style="width:14.143498%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:3.530643%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:76.325859%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">99.1</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Press Release issued by IPG Photonics Corporation on April 30, 2019</font></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr></table></div><div style="text-indent:24pt;margin-top:9pt;"><font><br></font></div><div id="i_0_16"></div><div style="text-align:center;"><font><br></font></div><div style="position:relative;width:100%;height:45pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="height:45pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;-sec-extract:summary;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;"><a href="#c3f48eee3c544d18b529bb5de3482a24_0" style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;text-decoration: none;">EXHIBIT INDEX</a></font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:9pt;line-height:120%;">&#160;</font></div><div style="margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:96.783626%;"><tr><td style="width:1.0%;"></td><td style="width:17.184290%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:4.042296%;"></td><td style="width:1.0%;"></td><td style="width:1.0%;"></td><td style="width:72.773414%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">EXHIBIT NUMBER</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">DESCRIPTION</font></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">99.1&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#0000FF;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:100%;text-decoration: underline;"><a href="exhibit991-20190331.htm" style="background-color:rgb(255,255,255, 0.0);color:#0000FF;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:100%;text-decoration: underline;-sec-extract:exhibit;">Press Release issued by IPG Photonics Corporation on April 30, 2019</a></font></div></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr></table></div><div><font><br></font></div><div id="i_0_19"></div><div style="text-align:center;"><font><br></font></div><div style="position:relative;width:100%;height:45pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="height:45pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;"><a href="#c3f48eee3c544d18b529bb5de3482a24_0" style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;text-decoration: none;">SIGNATURES</a></font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned thereunto duly authorized.</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:9pt;line-height:120%;">&#160;</font></div><div style="margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:97.660819%;"><tr><td style="width:1.0%;"></td><td style="width:42.011976%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:2.494611%;"></td><td style="width:0.1%;"></td><td style="width:0.1%;"></td><td style="width:2.191617%;"></td><td style="width:0.1%;"></td><td style="width:0.1%;"></td><td style="width:2.494611%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:44.407186%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">IPG PHOTONICS CORPORATION</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="6" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="display:none;"></td><td colspan="6" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">April 30, 2019</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">By&#58;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">&#47;s&#47; Timothy P.V. Mammen</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Timothy P.V. Mammen</font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Senior Vice President and Chief Financial Officer</font></td></tr></table></div><div><font><br></font></div><div style="position:relative;width:100%;height:45pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit991-20190331.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2019 Workiva -->
<title>Document</title></head><body><div id="i_0_1"></div><div style="height:45pt;width:100%;"><div><font><br></font></div></div><div style="text-align:right;-sec-extract:summary;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">Exhibit 99.1</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:9pt;line-height:120%;">&#160;</font><img alt="image1.jpg" src="image1.jpg" style="height:54px;width:200px;"></div><div><font><br></font></div><div style="text-align:center;margin-top:9pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">IPG PHOTONICS ANNOUNCES </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">FIRST QUARTER</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">2019</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;"> FINANCIAL RESULTS</font></div><div style="margin-top:9pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">OXFORD, Mass. &#8211; </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">April&#160;30, 2019</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> - </font><font style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:Times New Roman;font-size:10pt;line-height:120%;text-decoration: underline;">IPG Photonics Corporation</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> (NASDAQ&#58; IPGP) today reported financial results for the </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">first quarter</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> ended </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">March&#160;31, 2019</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">.</font></div><div style="margin-top:9pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:99.853801%;"><tr><td style="width:1.0%;"></td><td style="width:63.007321%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.385652%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:8.980966%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.532064%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:8.980966%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.532064%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:8.980966%;"></td><td style="width:1.0%;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;height:12pt;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Three Months Ended March 31,</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-style:italic;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(In millions, except per share data and percentages)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2019</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2018</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Change</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Revenue</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">315.0&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">359.9&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;padding-right:0%;"><font style="font-size:9pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(12)</font></td><td style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-right:1pt;"><font style="font-size:9pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">%</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Gross margin</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">47.3&#160;</font></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">%</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">56.5&#160;</font></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">%</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Operating income</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">68.3&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">141.1&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><font style="font-size:9pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(52)</font></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:9pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">%</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Operating margin</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">21.7&#160;</font></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">%</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">39.2&#160;</font></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">%</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Net income attributable to IPG Photonics Corporation</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">55.2&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">106.3&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><font style="font-size:9pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(48)</font></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:9pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">%</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Earnings per diluted share</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1.02&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1.93&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><font style="font-size:9pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(47)</font></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:9pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">%</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr></table></div><div><font><br></font></div><div id="i_0_4"></div><div style="margin-top:14pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">Management Comments</font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#34;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">We were pleased to deliver </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">fi</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">rst quarter results </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">in line w</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ith our guidance</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> given the</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">challenging</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">macroeconomic</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">geopolitical </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">and competitive </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">backdro</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">p,&#34; said Dr. Valentin Gapontsev, IPG Photonics' Ch</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ief Executive Officer.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#34;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">During the quarter</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> business trends improved in China</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">driving sequential growth in orders. </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">More importantly, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">w</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">e </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">have met </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">competitive challenges </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">head on</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> through a com</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">bination of </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">subst</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">antial</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">reduction </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">of </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">component and manufacturing costs </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">and </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">intro</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">d</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">u</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">c</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">tion of </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">unmatched </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">product features that improve processing spe</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ed</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, flexibility and quality</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> for our customers</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">W</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">e </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">continue to demonstrate meaningful traction in </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ultra </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">high power fiber lasers, and </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">invest </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">in new products and applications. </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">We believe this progress</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">substantially expands our addressable market and open</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">s up </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">opportunities </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">that </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">will drive </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">the company's </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">growth </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">for many</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> years.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#34;</font></div><div id="i_0_7"></div><div style="margin-top:14pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">Financial Highlights</font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">First quarter</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> revenue of </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">$315 million</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> decreased </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">12%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> year over year</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Materials processing sales accounted for </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">96%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> of total revenue, decreasing </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">11%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> year over year due to lower sales in </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">cutting</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">and </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">3</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">D printing</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> applications. </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Sales into other applications decreased </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">32%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> year over year </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">but with </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">strong order growth in</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">communications and government applications. </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">The </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">acquisition of Genesis Systems Group contribut</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ed</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> $24 million during the quarter</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">.</font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Sales of high power continuous wave (CW) lasers</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">representing </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">57%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> of total revenue</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">,</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> decreased </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">22%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> year over year</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">. Sales of fiber lasers at 6 kilowatts </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">of power </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">or greater</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">were </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">nearly </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">50%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> of all high power CW laser sales, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">and </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">high power</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> CW lasers at 10 kilowatts </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">or greater</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> increased more than 40% year </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">over year</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">. </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Sales of other high power lasers declined year over year due to the weaker demand environment in China and Europe</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> and lower a</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">verage selling prices</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">. By region, sales decreased </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">24%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> in China</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">24%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> in Europe </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">and </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">20%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> in Japan</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> but in</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">creased </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">65%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> in North America </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">on a year over year basis. </font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Earnings per diluted share (&#34;EPS&#34;) of </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">$1.02</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> decreased </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">47%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> year over year. </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Slightly </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">l</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ower than expected </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">absorption of fixed manufacturing </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">costs </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">and </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">a higher </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">inve</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">n</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">tory pro</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">vision</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> reduced EPS </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">by $0.04</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> relative to guidance</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">. In addition, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">h</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">igher R&#38;D material expenses</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">,</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">nonrecu</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">rring</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">legal costs</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">and </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">f</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">oreign exchange losses</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">reduced EPS by </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">$</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">0.0</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">4</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">. The effective tax rate in the quarter was </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">24%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, which benefited from certain discrete tax items</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">. </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">During the </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">first quarter</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, IPG generated </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">$46 million</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> in cash from operations. Capital expenditures were </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">$33 million</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, which included $</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">2</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">1</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> million for the purchase of a new facility in Massachusetts. </font></div><div id="i_0_10"></div><div style="margin-top:14pt;"></div><div style="position:relative;width:100%;height:45pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="height:45pt;width:100%;"><div><font><br></font></div></div><div style="margin-top:14pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">Business Outlook and Financial Guidance</font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#34;W</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">e have seen further signs of improving business conditions in China, our largest region, with sequential growth in orders and good momentum through the first three weeks of the second quarter. Our first quarter book-to-bill ratio was above one, in line with normal seasonality, albeit off a lower base given the weaker macroeconomic climate. </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">If </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">th</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">is</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> moment</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">um in China is </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">maintained</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, it </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">should continue to drive </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">better</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> performance</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">. </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">P</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">erformance in Europe</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> is generally stable</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> b</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ut down from peak levels</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, reflecting </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">reported economic trends in the region. </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">We expect pricing headwinds related to </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">competition in China to continue</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">. </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">We </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">bel</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ieve </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">our inn</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ovative new products, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">accessories and complete solutions</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, which </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">provide customers with a superior value propositio</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">n</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, both </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">cement</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> and </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">enhanc</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">e</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">our market leadership position</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">.</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#34;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> said Dr. Gapontsev.</font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">For the </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">second quarter</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> of </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">2019</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, IPG expects revenue of </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">$340 million</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> to </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">$370 million</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">. The Company expects the </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">second quarter</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> tax rate to be approximately </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">2</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">5</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">%</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">. IPG anticipates delivering earnings per diluted share in the range of </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">$1.25</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> to </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">$1.55</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, with </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">53.0 million</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> basic common shares outstanding and </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">53.9 million</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> diluted common shares outstanding. </font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#34;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Commentary from our largest machine tool OEM customers continues to improve, but we do not yet have clear visibility into their full year order plans. As such, we do not believe it is appropriate to provide full year revenue guidance at this time. As a reminder, we would expect year-over-year trends to improve in the back half of 2019 driven by market recovery and strength in new products and solutions</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">,</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#34;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> added Dr. Gapontsev.</font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">As discussed in more detail in the &#34;Safe Harbor&#34; passage of this news release, actual results may differ from this guidance due to various factors including, but not limited to, product demand, order cancellations and delays, competition, tariffs, trade policy changes and general economic conditions. This guidance is based upon current market conditions and expectations, and is subject to the risks outlined in the Company's reports with the SEC, and assumes exchange rates relative to the U.S. Dollar of Euro </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">0.89</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, Russian Ruble </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">65</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, Japanese Yen </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">111</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> and Chinese Yuan </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">6.73</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, respectively.</font></div><div id="i_0_13"></div><div style="margin-top:14pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">Supplemental Financial Information</font></div><div style="margin-top:9pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Additional supplemental financial information is provided in the </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">First Quarter 2019</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> Financial Data Workbook available on the investor relations section of the Company's website at </font><font style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:Times New Roman;font-size:10pt;line-height:120%;text-decoration: underline;">investor.ipgphotonics.com</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">.</font></div><div id="i_0_16"></div><div style="margin-top:14pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">Conference Call Reminder</font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">The Company will hold a conference call today, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">April&#160;30, 2019</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> at 10&#58;00 am ET. To access the call, please dial 877-407-6184 in the US or 201-389-0877 internationally. A live webcast of the call will also be available and archived on the investor relations section of the Company's website at </font><font style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:Times New Roman;font-size:10pt;line-height:120%;text-decoration: underline;">investor.ipgphotonics.com</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">.</font></div><div id="i_0_19"></div><div style="margin-top:14pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">Contact</font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">James Hillier</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Vice President of Investor Relations</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">IPG Photonics Corporation</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">508-373-1467</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">jhillier&#64;ipgphotonics.com</font></div><div id="i_0_22"></div><div style="margin-top:14pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">About IPG Photonics Corporation</font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials processing and other diverse applications. The company&#8217;s mission is to make its fiber laser technology the tool of choice in mass production. IPG accomplishes this mission by delivering superior performance, reliability and usability at a lower total cost of ownership compared with other types of lasers and non-laser tools, allowing end users to increase productivity and decrease costs. A member of the S&#38;P 500&#174; Index, IPG is headquartered in Oxford, Massachusetts and has more than </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">25</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> facilities worldwide. For more information, visit www.ipgphotonics.com.</font></div><div id="i_0_25"></div><div style="margin-top:14pt;"></div><div style="position:relative;width:100%;height:45pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="height:45pt;width:100%;"><div><font><br></font></div></div><div style="margin-top:14pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">Safe Harbor Statement</font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">Information and statements provided by IPG and its employees, including statements in this press release, that relate to future plans, events or performance are forward-looking statements. These statements involve risks and uncertainties. Any statements in this press release that are not statements of historical fact are forward-looking statements, including, but not limited to,</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> introduction of unmatched product features that improve processing speed, flexibility and quality for our customers</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> meaningful traction in ultra high power fiber lasers, and invest</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ment</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> in new products and applications</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">expand</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ing</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> our addressable market and open</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ing</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> up opportunities that will drive the company's growth for many years</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">momentum in China </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">continu</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ing</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> to drive better performance</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, continu</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">e</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">d </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">pricing headwinds related to competition in China</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">our innovative new products, accessories and complete solutions</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">provid</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ing</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> customers with a superior value proposition, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">cement</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ing</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> and enhanc</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ing</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> our market leadership position</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">improving c</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">ommentary from our largest machine tool OEM customers</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">,</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">and reve</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">nue and earning</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">s </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">guidance for Q</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">2</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> 2019. </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> Factors that could cause actual results to differ materially include risks and uncertainties, including risks associated with the strength or weakness of the business conditions in industries and geographic markets that IPG serves, particularly the effect of downturns in the markets IPG serves&#59; uncertainties and adverse changes in the general economic conditions of markets&#59; IPG's ability to penetrate new applications for fiber lasers and increase market share&#59; the rate of acceptance and penetration of IPG's products&#59; inability to manage risks associated with international customers and operations&#59; changes in trade controls and trade policies&#59; foreign currency fluctuations&#59; high levels of fixed costs from IPG's vertical integration&#59; the appropriateness of IPG's manufacturing capacity for the level of demand&#59; competitive factors, including declining average selling prices&#59; the effect of acquisitions and investments&#59; inventory write-downs&#59; asset impairment charges&#59; intellectual property infringement claims and litigation&#59; interruption in supply of key components&#59; manufacturing risks&#59; government regulations and trade sanctions&#59; and other risks identified in IPG's SEC filings. Readers are encouraged to refer to the risk factors described in IPG's Annual Report on Form 10-K (filed with the SEC on February 2</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">7</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">, 201</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">9</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">) and its periodic reports filed with the SEC, as applicable. Actual results, events and performance may differ materially. Readers are cautioned not to rely on the forward-looking statements, which speak only as of the date hereof. IPG undertakes no obligation to update the forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.</font></div><div id="i_0_28"></div><div style="text-align:center;"></div><div style="position:relative;width:100%;height:45pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="height:45pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">IPG PHOTONICS CORPORATION</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">CONSOLIDATED STATEMENTS OF INCOME</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:9pt;line-height:120%;">&#160;</font></div><div style="margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:99.990000%;"><tr><td style="width:1.0%;"></td><td style="width:69.637427%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.384795%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:11.596491%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.384795%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:11.596491%;"></td><td style="width:1.0%;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="height:21pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:21pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;height:21pt;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Three Months Ended March 31,</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2019</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2018</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;height:12pt;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(In&#160;thousands,&#160;except&#160;per&#160;share&#160;data)</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Net sales</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">315,047&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">359,864&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Cost of sales</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">166,136&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">156,502&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Gross profit</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">148,911&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">203,362&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Operating expenses&#58;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Sales and marketing</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">19,275&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">13,516&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Research and development</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">32,496&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">28,546&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">General and administrative</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">27,212&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">25,495&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Loss (gain) on foreign exchange</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1,613&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(5,295)</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:36pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Total operating expenses</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">80,596&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">62,262&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Operating income</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">68,315&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">141,100&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Other income (expense), net&#58;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Interest income, net</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">3,952&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">311&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Other income (expense), net</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(9)</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">443&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:36pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Total other income</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">3,943&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">754&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Income before provision of income taxes</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">72,258&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">141,854&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Provision for income taxes</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(17,342)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(35,520)</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Net income</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">54,916&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">106,334&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Less&#58; net income (loss) attributable to noncontrolling interests</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(243)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">&#8212;&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Net income attributable to IPG Photonics Corporation</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">55,159&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">106,334&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Net income attributable to IPG Photonics Corporation per share&#58;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:3pt double #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:3pt double #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Basic</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1.04&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1.98&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Diluted</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1.02&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1.93&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Weighted average shares outstanding&#58;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:12pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Basic</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">53,001&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">53,694&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:12pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Diluted</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">53,874&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">55,182&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr></table></div><div><font><br></font></div><div id="i_0_31"></div><div style="text-align:center;"></div><div style="position:relative;width:100%;height:45pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="height:45pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">IPG PHOTONICS CORPORATION</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">CONSOLIDATED BALANCE SHEETS</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:9pt;line-height:120%;">&#160;</font></div><div><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:99.990000%;"><tr><td style="width:1.0%;"></td><td style="width:68.906433%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.384795%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:11.888889%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.530994%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:11.888889%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">March 31,</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">December 31, </font></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2019</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2018</font></td></tr><tr><td colspan="3" style="height:19pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:19pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;height:19pt;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(In&#160;thousands,&#160;except&#160;share&#160;and&#160;per<br>share data)</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="15" style="padding-top:2px;padding-bottom:2px;height:12pt;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">ASSETS</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Current assets&#58;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Cash and cash equivalents</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">548,938&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">544,358&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Short-term investments</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">481,139&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">500,432&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Accounts receivable, net</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">231,850&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">255,509&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Inventories</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">417,817&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">403,579&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Prepaid income taxes</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">50,961&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">43,782&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Prepaid expenses and other current assets</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">61,389&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">57,764&#160;</font></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:36pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Total current assets</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1,792,094&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1,805,424&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Deferred income taxes, net</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">17,438&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">19,165&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Goodwill</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">110,349&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">100,722&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Intangible assets, net</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">93,280&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">87,139&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Property, plant and equipment, net</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">570,756&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">543,068&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Other assets</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">41,954&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">18,932&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Total assets</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2,625,871&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2,574,450&#160;</font></td></tr><tr><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:3pt double #000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:3pt double #000;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="15" style="padding-top:2px;padding-bottom:2px;height:12pt;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">LIABILITIES AND EQUITY</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Current liabilities&#58;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Current portion of long-term debt</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">3,688&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">3,671&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Accounts payable</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">39,970&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">36,302&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Accrued expenses and other liabilities</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">153,151&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">154,640&#160;</font></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Income taxes payable</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">13,007&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">51,161&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:36pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Total current liabilities</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">209,816&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">245,774&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Deferred income taxes and other long-term liabilities</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">106,988&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">80,734&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Long-term debt, net of current portion</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">40,779&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">41,707&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:36pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Total liabilities</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">357,583&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">368,215&#160;</font></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Commitments and contingencies</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">IPG Photonics Corporation stockholders' equity&#58;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Common stock, $0.0001 par value, 175,000,000 shares authorized&#59; 54,538,307 and 53,108,213 shares issued and outstanding, respectively, at March 31, 2019&#59; 54,371,701 and 52,941,607 shares issued and outstanding, respectively, at December 31, 2018</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">5&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">5&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Treasury stock, at cost (1,430,094 shares held at both March 31, 2019 and December 31, 2018)</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(224,998)</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(224,998)</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Additional paid-in capital</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">746,926&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">744,937&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Retained earnings</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1,903,659&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1,848,500&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Accumulated other comprehensive loss</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(157,751)</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(162,896)</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:36pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Total IPG Photonics Corporation stockholders' equity</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2,267,841&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2,205,548&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Noncontrolling interests</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">447&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">687&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:36pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Total equity</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2,268,288&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2,206,235&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Total liabilities and equity</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:3pt double #000000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:3pt double #000000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2,625,871&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:3pt double #000000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:3pt double #000000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2,574,450&#160;</font></td></tr></table></div><div><font><br></font></div><div id="i_0_34"></div><div style="text-align:center;"></div><div style="position:relative;width:100%;height:45pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="height:45pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">IPG PHOTONICS CORPORATION</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">CONSOLIDATED STATEMENTS OF CASH FLOWS</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:9pt;line-height:120%;">&#160;</font></div><div style="margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:99.990000%;"><tr><td style="width:1.0%;"></td><td style="width:69.345029%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.530994%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:11.596491%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.530994%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:11.596491%;"></td><td style="width:1.0%;"></td></tr><tr><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;height:12pt;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Three Months Ended March 31,</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2019</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2018</font></td></tr><tr><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;height:12pt;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(In thousands)</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Cash flows from operating activities&#58;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Net income</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">54,916&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">106,334&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Adjustments to reconcile net income to net cash provided by operating activities&#58;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:30pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Depreciation and amortization</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">22,802&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">19,223&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:30pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Provisions for inventory, warranty&#160;&#38; bad debt</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">9,912&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">9,318&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:30pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Other</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">16,212&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">11,829&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Changes in assets and liabilities that used cash&#58;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:30pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Accounts receivable and accounts payable</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">24,808&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">9,076&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:30pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Inventories</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(19,719)</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(49,744)</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:30pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Other</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(63,381)</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(6,383)</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:54pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Net cash provided by operating activities</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">45,550&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">99,653&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Cash flows from investing activities&#58;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Purchases of property, plant and equipment</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(32,839)</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(39,113)</font></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Proceeds from sales of property, plant and equipment</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">181&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">210&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Purchases of investments</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(178,101)</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(70,777)</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Proceeds from sales of investments</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">202,856&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">70,161&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Acquisitions of businesses, net of cash acquired</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(20,005)</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">&#8212;&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Other</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(134)</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">76&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:54pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Net cash used in investing activities</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(28,042)</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(39,443)</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Cash flows from financing activities&#58;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Principal payments on long-term borrowings</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(911)</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(895)</font></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Proceeds from issuance of common stock under employee stock option and purchase plans less payments for taxes related to net share settlement of equity awards</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(6,149)</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">3,113&#160;</font></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Purchase of treasury stock, at cost</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">&#8212;&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(20,071)</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:54pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Net cash used in financing activities</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(7,060)</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(17,853)</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Effect of changes in exchange rates on cash and cash equivalents</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(5,868)</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">16,866&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Net increase in cash and cash equivalents</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">4,580&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">59,223&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Cash and cash equivalents  &#8212; Beginning of period</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">544,358&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">909,900&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Cash and cash equivalents &#8212; End of period</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">548,938&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">969,123&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Supplemental disclosures of cash flow information&#58;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:3pt double #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:3pt double #000000;padding-left:1pt;padding-right:1pt;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Cash paid for interest</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">749&#160;</font></td><td colspan="3" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">799&#160;</font></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Cash paid for income taxes</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:3pt double #000000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:3pt double #000000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">51,438&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:3pt double #000000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:3pt double #000000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">19,546&#160;</font></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr></table></div><div><font><br></font></div><div id="i_0_37"></div><div style="text-align:center;"></div><div style="position:relative;width:100%;height:45pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="height:45pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">IPG PHOTONICS CORPORATION</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">SUPPLEMENTAL SCHEDULE OF ACQUISITION RELATED COSTS AND OTHER CHARGES</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:9pt;line-height:120%;">&#160;</font></div><div style="margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:99.990000%;"><tr><td style="width:1.0%;"></td><td style="width:69.345029%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.530994%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:11.596491%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.530994%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:11.596491%;"></td><td style="width:1.0%;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;height:12pt;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Three Months Ended March 31,</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:700;font-style:italic;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);"><font style="font-size:10pt;font-weight:700;font-style:italic;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);"></font></font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2019</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2018</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;padding-right:1pt;"><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:8pt;font-weight:700;line-height:100%;">(In thousands)</font></div></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:100%;">Step-up of inventory </font><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:6.5pt;font-weight:400;line-height:100%;vertical-align:top;">(1)</sup><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:400;line-height:100%;">&#58;</font></div></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Cost of sales</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">&#8212;&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">282&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Amortization of intangible assets&#58;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Cost of sales</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1,346&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1,169&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Sales and marketing</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1,810&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">602&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:18pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Research and development</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">160&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">160&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Total acquisition related costs and other charges</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">3,316&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2,213&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr></table></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:9pt;line-height:120%;">&#160;</font></div><div style="margin-top:5pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">(1)</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">2018</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> amount</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> relate</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">s</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;"> to </font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">step-up adjustments on inventory sold during the period.</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;line-height:120%;">&#160;</font></div><div><font><br></font></div><div><font><br></font></div><div id="i_0_40"></div><div style="text-align:center;"></div><div style="position:relative;width:100%;height:45pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="height:45pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">IPG PHOTONICS CORPORATION</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:700;line-height:120%;">SUPPLEMENTAL SCHEDULE OF STOCK-BASED COMPENSATION AND ACCOUNTING STANDARD IMPACTS TO NET INCOME AND EARNINGS PER SHARE</font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:9pt;line-height:120%;">&#160;</font></div><div style="margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:99.990000%;"><tr><td style="width:1.0%;"></td><td style="width:69.052632%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.530994%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:11.742690%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.530994%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:11.742690%;"></td><td style="width:1.0%;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;height:12pt;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Three Months Ended March 31,</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-style:italic;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);"><font style="font-size:8pt;font-weight:700;font-style:italic;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);"></font></font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2019</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2018</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:13pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;height:13pt;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(In thousands)</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Cost of sales</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2,039&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1,568&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Sales and marketing</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">787&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">556&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Research and development</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1,857&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">1,416&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">General and administrative</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">3,455&#160;</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2,875&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Total stock-based compensation</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">8,138&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">6,415&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Tax benefit recognized</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(1,916)</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:right;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(1,431)</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Net stock-based compensation</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:3pt double #000000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:3pt double #000000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">6,222&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:3pt double #000000;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;border-bottom:3pt double #000000;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">4,984&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr></table></div><div><font><br></font></div><div style="text-align:center;margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:99.990000%;"><tr><td style="width:1.0%;"></td><td style="width:69.052632%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.530994%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:11.742690%;"></td><td style="width:1.0%;"></td><td style="width:0.1%;"></td><td style="width:0.530994%;"></td><td style="width:0.1%;"></td><td style="width:1.0%;"></td><td style="width:11.742690%;"></td><td style="width:1.0%;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-style:italic;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);"><font style="font-size:8pt;font-weight:700;font-style:italic;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);"></font></font></td><td colspan="3" style="height:12pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;height:12pt;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Three Months Ended March 31,</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-style:italic;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);"><font style="font-size:8pt;font-weight:700;font-style:italic;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);"></font></font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2019</font></td><td colspan="3" style="background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2018</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="3" style="height:15pt;background-color:rgb(255,255,255, 0.0);text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td colspan="9" style="padding-top:2px;padding-bottom:2px;height:15pt;background-color:rgb(255,255,255, 0.0);text-align:center;vertical-align:bottom;border-top:1pt solid #000;padding-left:1pt;padding-right:1pt;"><font style="font-size:8pt;font-weight:700;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">(In thousands)</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:top;padding-left:1pt;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">Excess tax benefit on exercise of stock options included in net income</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">2,910&#160;</font></td><td colspan="3" style="background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">$</font></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><font style="font-size:10pt;font-weight:400;font-family:Times New Roman;color:#000000;background-color:rgb(255,255,255, 0.0);">3,159&#160;</font></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr><tr><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td><td colspan="3" style="display:none;"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="position:relative;width:100%;height:45pt;width:100%;"><div style="position:absolute;bottom:0;width:100%;"><div><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image1.jpg
M_]C_X  02D9)1@ ! 0$!+ $L  #_[0 L4&AO=&]S:&]P(#,N,  X0DE- ^T
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M1E0     245#('-21T(                  /;6  $     TRU(4" @
M                                                           1
M8W!R=    5     S9&5S8P   80   !L=W1P=    ?     48FMP=    @0
M   4<EA96@   A@    49UA96@   BP    48EA96@   D     49&UN9
M E0   !P9&UD9    L0   "(=G5E9    TP   "&=FEE=P   ]0    D;'5M
M:0   _@    4;65A<P  ! P    D=&5C:   !#     ,<E120P  !#P   @,
M9U120P  !#P   @,8E120P  !#P   @,=&5X=     !#;W!Y<FEG:'0@*&,I
M(#$Y.3@@2&5W;&5T="U086-K87)D($-O;7!A;GD  &1E<V,         $G-2
M1T(@245#-C$Y-C8M,BXQ               2<U)'0B!)14,V,3DV-BTR+C$
M
M     %A96B        #S40 !     1;,6%E:(                     !8
M65H@        ;Z(  #CU   #D%A96B        !BF0  MX4  !C:6%E:(
M     "2@   /A   ML]D97-C         !9)14,@:'1T<#HO+W=W=RYI96,N
M8V@              !9)14,@:'1T<#HO+W=W=RYI96,N8V@
M                                                9&5S8P
M   N245#(#8Q.38V+3(N,2!$969A=6QT(%)'0B!C;VQO=7(@<W!A8V4@+2!S
M4D="               N245#(#8Q.38V+3(N,2!$969A=6QT(%)'0B!C;VQO
M=7(@<W!A8V4@+2!S4D="                             &1E<V,
M    +%)E9F5R96YC92!6:65W:6YG($-O;F1I=&EO;B!I;B!)14,V,3DV-BTR
M+C$              "Q2969E<F5N8V4@5FEE=VEN9R!#;VYD:71I;VX@:6X@
M245#-C$Y-C8M,BXQ                                  !V:65W
M   3I/X %%\N !#/%  #[<P !!,+  -<G@    %865H@      !,"58 4
M %<?YVUE87,          0                        */     G-I9R
M    0U)4(&-U<G8        $      4 "@ / !0 &0 > ", *  M #( -P [
M $  10!* $\ 5 !9 %X 8P!H &T <@!W 'P @0"& (L D "5 )H GP"D *D
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M&J:+IOVG;J?@J%*HQ*DWJ:FJ'*J/JP*K=:OIK%RLT*U$K;BN+:ZAKQ:OB[
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M],+U4/7>]FWV^_>*^!GXJ/DX^<?Z5_KG^W?\!_R8_2G]NOY+_MS_;?___]L
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M^O_:  P# 0 "$0,1 #\ _?RBBB@ HHHH **** "BBB@ HHHH **** "BBB@
MKPW5/^4D&D?]D\N?_3A%7N5>&ZI_RD@TC_LGES_Z<(J^?X@^'#_]?:?YGTG#
M?QXG_KS4_P#23W*BBBOH#YL**** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@#P[]@MBWP^\9Y)/_%<:T.3_ -/%>XUX;^P5_P D^\:?]CSK7_I17N5?
M/\*_\BFA_A/I.+_^1SB/\04445] ?-A1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %>&ZI_RD@TC_LGES_Z<(J]RKPW5/^4D&D?]D\N?_3A%
M7S_$'PX?_K[3_,^DX;^/$_\ 7FI_Z2>Y4445] ?-A1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 >&_L%?\D^\:?]CSK7_I17N5>&_L%?\D^\:?\
M8\ZU_P"E%>Y5\_PK_P BBA_A/I.,/^1SB/\ %_D%%%%?0'S84444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %<G\0OCWX%^$FH6]GXK\:>$_#-U=1F:"'5M7M[*29 <%E61
MU++GC(XS765^'_\ P=,1+)^U/\,-RJW_ !2D_4?]/;5[G#N4QS+'1PDY<J:;
MNM=E<\O.<PE@L*\1%7LUIZNQ^NG_  VG\'/^BM?#/_PJ+'_X[1_PVG\'/^BM
M?#/_ ,*BQ_\ CM?RF_98_P#GG'^0H^RQ_P#/./\ (5^B_P#$,</_ ,_Y?^ K
M_,^-_P!>*W_/I?>_\C^K+_AM/X.?]%:^&?\ X5%C_P#':[SPKXMTKQUX>M=6
MT/4M/UC2;Y/,MKVQN$N+>X7)&4D0E6&01D$]*_D1^S1_\\X_R%?TN?\ !%@;
M?^"6WP9 X']B-_Z435\QQ3PA2RG#1KPJ.7-*UFDNC??R/<R'B*IF%:5*4%&R
MOH[]4OU/J*BBBOA3ZH*\-U3_ )20:1_V3RY_].$5>Y5X;JG_ "D@TC_LGES_
M .G"*OG^(/AP_P#U]I_F?2<-_'B?^O-3_P!)/<J***^@/FPJKK>MV7AG1;S4
MM2O+73].T^%[FZNKF58H;:)%+/([L0JJJ@DL2  "35JO&_\ @HL,_P#!/GX[
M?]D\\0?^FVXK;#4O:U8TW]II?>S.M4Y*<IKHF_N-C_AM/X-_]%:^&?\ X5%C
M_P#':/\ AM/X.?\ 16OAG_X5%C_\=K^4Q;:/'^KC_(4OV6/_ )YQ_D*_6_\
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M@&&5(X8 @\$ @BMNOSV47%N,E9H^PC)-76P4445(SPW]@K_DGWC3_L>=:_\
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M_P"%(_%CR?[_ /P@^I;?7KY%;R\.,-3=JF+L_P#"E_[<91XTKSUAA[KU;_\
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M6%+ 4Y1<OC6\I2^R^DFT?7\&XB=3%S4K?#TC%=5V2/J&BBBOQT_1@KPW5/\
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M_07X4_\ !JUI-M>0S>.OC)JVH6Y ,MIX>T..PD4]P)YY)P1TY\D5]Y?L@?\
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M?%OXN>)OCU\2]8\9>,M:O/$7BCQ!.;B_O[EOGE;H%4#Y4C1<*D: (BJJJ H
MKG<TV*59HU96W*PR#ZT[-?U!&,8148JR6B2Z'X7*3D^:6K8%L"OVP_X(U_\
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M_C9<O_8G:G_Z-M*^HO\ AU%^P#_T6+_R_P"S_P#B:]5_8W_9E_8O_88^,_\
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MM<EM7MK<W^DE><-]K@+Q)D#(61E?'5000/Z./^&^_@?_ -%<^'/_ (4%K_\
M%T?\-]? _P#Z*Y\.?_"@M?\ XNOMLF\1L1@H*C4G&I!;7=FEV4O\T_(^7S+P
MQQ>*DZD,+5A)]J<K/U5OR:/Y7H+F.Y3='(DB^JMD?SKH?AI\4_$WP7\96_B+
MP?XBUSPKKUJI2/4-)OI+.X"$@LA=&!9&P-R'*MCD&OZ*OBIJ/[$_QPO)KKQ=
M-^SOXAOKC.^]O3IDEV<]<3?ZP9]FKQ;Q'^PE_P $X?$L[RR7'PVLY&[V/Q!N
M[15^B1W@3_QVOL*?BIE%2/+B(M7W2<9+\6OR/G9^$_$,)7HTI_\ @$T_PBSX
M ^&'_!Q!^T]\.;9(;[Q!X2\:+&  VOZ!'OP.@+6;VQ;ZG)/<DUWD/_!S_P#'
MY8U$G@_X/LW<KIFHJ#^'VX_SKZ4U'_@F'_P3RO9"T/Q TBR']V'XC;@/^_DC
M&L\?\$K/^"?H_P":L6__ (<&WKSY\5<&5'S2I+_P&*_*5CKCP/QM!<JIU/\
MP&;_ #B?,'BG_@Y:_:2\0V30VMG\+-"9LXFL-!N7E7_O_=RK_P".UX!\<_\
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MC#%5'3_M%0TO>:IQ732_)O\ \$^3/^(?+PO_ -%*\2?^"V#_ !H_XA\O"_\
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M_P#B'R\+_P#12O$G_@M@_P :/^(?+PO_ -%*\2?^"V#_ !KZ4W?M._W?@/\
M]]:M_A1N_:=_N_ ?_OK5O\*/:8#_ * JO_@#_P#D@_U[XP_Z&]+[Z?\ \K/F
MO_B'R\+_ /12O$G_ (+8/\:/^(?+PO\ ]%*\2?\ @M@_QKZ4W?M._P!WX#_]
M]:M_A1N_:=_N_ ?_ +ZU;_"CVF _Z JO_@#_ /D@_P!>^,/^AO2^^G_\K/FO
M_B'R\+_]%*\2?^"V#_&C_B'R\+_]%*\2?^"V#_&OI3=^T[_=^ __ 'UJW^%&
M[]IW^[\!_P#OK5O\*/:8#_H"J_\ @#_^2#_7OC#_ *&]+[Z?_P K/FO_ (A\
MO"__ $4KQ)_X+8/\:/\ B'R\+_\ 12O$G_@M@_QKZ4W?M._W?@/_ -]:M_A1
MN_:=_N_ ?_OK5O\ "CVF _Z JO\ X __ )(/]>^,/^AO2^^G_P#*SYK_ .(?
M+PO_ -%*\2?^"V#_ !H_XA\O"_\ T4KQ)_X+8/\ &OI3=^T[_=^ _P#WUJW^
M%&[]IW^[\!_^^M6_PH]I@/\ H"J_^ /_ .2#_7OC#_H;TOOI_P#RL^:_^(?+
MPO\ ]%*\2?\ @M@_QH_XA\O"_P#T4KQ)_P""V#_&OI3=^T[_ '?@/_WUJW^%
M&[]IW^[\!_\ OK5O\*/:8#_H"J_^ /\ ^2#_ %[XP_Z&]+[Z?_RL^:_^(?+P
MO_T4KQ)_X+8/\:/^(?+PO_T4KQ)_X+8/\:^E-W[3O]WX#_\ ?6K?X4;OVG?[
MOP'_ .^M6_PH]I@/^@*K_P" /_Y(/]>N,/\ H;TOOI__ "L^+OV>_P#@BOX=
M^-GAS7+Z;Q[KUBVD:_?:,JQV$+"1;>78'.3P6ZD=!7>_\0^7A?\ Z*5XD_\
M!;!_C7H/[)K?'3_A$/$W_")K\)?L?_"4ZG]L_M9M0\S[9YW[_P ORQCR=WW-
MWS8Z\UZGN_:=_N_ ?_OK5O\ "O+R3$82I@:52MA*LI-:M1=G]S1Z^?<:\5TL
MPJTZ&:TX13T3<+K[X,^:_P#B'R\+_P#12O$G_@M@_P :/^(?+PO_ -%*\2?^
M"V#_ !KZ4W?M._W?@/\ ]]:M_A1N_:=_N_ ?_OK5O\*]3VF _P"@*K_X _\
MY(\C_7OC#_H;TOOI_P#RL^:_^(?+PO\ ]%*\2?\ @M@_QH_XA\O"_P#T4KQ)
M_P""V#_&OI3=^T[_ '?@/_WUJW^%&[]IW^[\!_\ OK5O\*/:8#_H"J_^ /\
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M/\:^E-W[3O\ =^ __?6K?X4;OVG?[OP'_P"^M6_PH]I@/^@*K_X _P#Y(/\
M7OC#_H;TOOI__*SYK_XA\O"__12O$G_@M@_QI'_X-\/"[HR_\++\2?,,?\@V
M#_&OI7=^T[_=^ __ 'UJW^%&[]IW^[\!_P#OK5O\*/:8#_H"J_\ @#_^2#_7
MOC#_ *&]+[Z?_P K/7OASX.C^'?P]T'P_%.]U'H6G6^GI,ZA6E6&-8PQ X!.
MW.!ZUM5X/N_:=_N_ ?\ [ZU;_"C=^T[_ '?@/_WUJW^%>M'B!)66&K?^ ?\
M!/SFKP].I-U)XNBVW=_O.K^1[Q17@^[]IW^[\!_^^M6_PHW?M._W?@/_ -]:
MM_A5?ZQ?]0U;_P  _P""9_ZL_P#451_\&?\  />**\'W?M._W?@/_P!]:M_A
M1N_:=_N_ ?\ [ZU;_"C_ %B_ZAJW_@'_  0_U9_ZBJ/_ (,_X![Q17@^[]IW
M^[\!_P#OK5O\*-W[3O\ =^ __?6K?X4?ZQ?]0U;_ , _X(?ZL_\ 451_\&?\
M ]XHKP?=^T[_ '?@/_WUJW^%&[]IW^[\!_\ OK5O\*/]8O\ J&K?^ ?\$/\
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M+TWXH?%RX\0>&M%\-V-Q'I>BZCK;75WJ=Q/"T'F2PK(Z1Q)')(<2$2>9L.P
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
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
