Advanced Energy Industries grows revenue by 45 percent year over year

FORT COLLINS — Advanced Energy Industries Inc. (Nasdaq: AEIS) posted revenue of $149.4 million for its first quarter, up 45 percent from the same period last year.

Earnings per share was 88 cents, up from 50 cents per share in the first quarter of 2016, with income from continuing operations of $35.4 million.

“Our financial performance this quarter continued to reach new highs, with increases in Semiconductor and Service revenues and a sizable rebound in Industrial applications,” Yuval Wasserman, president and CEO of Advanced Energy, said in a prepared statement. “In total, our business performed significantly better than last year’s first quarter due to our operational leverage and robust business model. With our continuous innovation and resulting design wins, we are benefiting from our customers’ success in next-generation technologies. Our strong balance sheet is allowing us to pursue a number of opportunities for future growth and profitability.”

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Looking ahead, AEIS said it expects its second-quarter revenue to be between $150 million and $160 million, with earnings per share to be between 96 cents and $1.06.