AE sees boom in semiconductor sales

FORT COLLINS – Advanced Energy Industries Inc. (AEIS) saw sales boom 150
percent in the first quarter, compared to the first quarter of 2009.

The Fort Collins-based company reported first quarter sales of $81.6
million, up from $66.4 million in the fourth quarter and $32.6 million a
year ago. The growth was driven by the semiconductor market, which
accounted for 59.6 percent of AE’s sales for the quarter.

The company reported a net income of $6.2 million in the quarter versus a
loss of $79.8 million for the same period a year ago. Operating
expenses were up 11 percent from the fourth quarter to the first quarter
after AE ended its employee furloughs in place most of last year.

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“Marked by the third consecutive quarter of greater than 20 percent
total revenue growth, we were extremely pleased with our first quarter
results,´ said AE CEO Hans Betz. “Momentum in the semiconductor capital
equipment market drove the majority of the growth this quarter
continuing the three-quarter trend of over 40 percent expansion in that
market.”

AE stock was trading down $1.06 cents to $16.37 this afternoon.