IPG Photonics Corp. (NASDAQ:IPGP) reported third-quarter results on Tuesday that topped Wall Street expectations.

The company reported adjusted earnings of 35 cents per share, exceeding analysts’ consensus estimate of 14 cents.

Net sales for the quarter totaled $250.79 million, representing a 7.6% increase from the prior-year period and surpassing market expectations of $239.80 million.

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Regional performance was mixed, with sales up 15% in Asia and 8% in North America, but down 7% in Europe year over year.

Adjusted gross margin was 39.8% and GAAP gross margin increased 39.5%, while adjusted EBITDA came in at $36.96 million for the quarter. The