Advanced Energy Industries Q1 Profit Rises, Results Beat View

(RTTNews) - Advanced Energy Industries, Inc. (AEIS), a manufacturer of precision power conversion, measurement and control solutions, on Wednesday reported net income for the first quarter of $18.06 million or $0.47 per share, up from $15.37 million or $0.40 per share in the year-ago period.

Adjusted earnings for the quarter were $0.91 per share, compared to $0.58 per share in the prior-year quarter. On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.65 per share for the quarter. Analysts' estimates typically exclude special items.

Total sales for the quarter surged to $315.5 million from $140.7 million a year ago. Analysts expected revenue of $307.47 million for the quarter.

For the second quarter, Advanced Energy Industries projects adjusted earnings per share of $0.80, plus or minus $0.30; and revenues of $315 million, plus or minus $30 million. The Street expects the company to report earnings of $0.58 per share on revenue of $305.15 million.