Advanced Energy 1Q profit climbs by nearly 50 percent

FORT COLLINS – Advanced Energy Industries Inc. (Nasdaq: AEIS) saw shares dip slightly in after-hours trading Monday following an afternoon earnings report that showed net income of $21.3 million for the first quarter.

Advanced Energy earnings amounted to 52 cents per diluted share, up from $14.7 million or 35 cents per share a year ago.

Fort Collins-based Advanced Energy makes power and control technologies for things like flat-panel displays and solar inverters.

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The company’s share price declined 2.3 percent to close at $24.89 Monday before dropping another 9 cents in the hour following the earnings report.

The company’s revenue climbed slightly, from $140.9 million a year earlier, to $141.1 million. But it was down from the fourth quarter of 2014 mark of $152.7 million.

The company issued guidance for the second quarter of $126 million to $136 million in sales and net income of 32 to 36 cents per share.

President and CEO Yuval Wasserman said the increased profitability over last year was driven by a mix of shifting to higher-margin products and record sales in the company’s semiconductor applications.