Advanced Energy: 3Q Earnings Snapshot
FORT COLLINS, Colo. (AP) _ Advanced Energy Industries Inc. (AEIS) on Tuesday reported third-quarter earnings of $7.6 million.
On a per-share basis, the Fort Collins, Colorado-based company said it had profit of 20 cents. Earnings, adjusted for one-time gains and costs, came to 54 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The maker of power-conversion products posted revenue of $175.1 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $154.7 million.
For the current quarter ending in December, Advanced Energy expects its per-share earnings to range from 56 cents to 80 cents.
The company said it expects revenue in the range of $295 million to $325 million for the fiscal fourth quarter.
Advanced Energy shares have increased 47% since the beginning of the year. The stock has climbed 46% in the last 12 months.