Advanced Energy Industries Swings To Q2 Profit

(RTTNews) - Advanced Energy Industries, Inc. (AEIS) reported net income was $10.6 million or $0.26 per share, compared to a net loss of $9.8 million or $0.24 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $15.5 million or $0.38 per share, compared to $13.9 million or $0.35 per share in the prior year quarter.

Second quarter sales grew to $146.3 million from $139.7 million in the second quarter of 2013.

Analysts polled by Thomson Reuters expected the company to earn $0.34 per share on revenue of $140.02 million for the second quarter.

Looking forward to the third quarter, the company forecasts sales of $130 million to $140 million, earnings per share of $0.22 to $0.30, excluding restructuring charges, and adjusted earnings per share of $0.30 to $0.38. Analysts currently expect the company to earn $0.37 per share on revenue of $144.50 million for the third quarter.