Sees Q3 revenue $300M-$330M, consensus $358.89M. “Second quarter book-to-bill was below one as increased economic uncertainty negatively impacted customer orders in our key geographies. In particular, general industrial demand in Europe and North America has weakened while industrial demand and EV investment remain soft in China. However, we are pleased to see continued strong orders in e-mobility applications, driven by increased investments in EV battery capacity in Europe, North America, Korea and Japan, which should drive sales for our welding, foil cutting and cleaning solutions. We are also seeing increasing orders for 3D printing applications and laser diode heating and drying solutions and are excited about additional opportunities for these applications in the second half of 2023. The EV investment cycle in China is expected to rebound in 2024,” concluded Dr. Scherbakov.
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