Advanced Energy posts record-breaking numbers for 2017

FORT COLLINS —  Advanced Energy Industries Inc. (Nasdaq: AEIS) on Tuesday reported that 2017 was a record-breaking year for the company that designs and manufactures power and control products used in semiconductors, flat-panel displays and other electronics.

Fort Collins-based Advanced Energy reported a profit of $137.9 million for the year ending Dec. 31, compared with a profit of $127.5 million recorded in 2016. Sales were $671 million in 2017 compared with $483.7 million in 2016, an increase of 39 percent.

The company reported fourth quarter sales of $179.2 million compared with $176.6 million in the third quarter of 2017 and $135.3 million in the fourth quarter of 2016.
“Capped off by a strong fourth quarter in our semiconductor business, 2017 was a record-breaking year across the board as revenue and non-GAAP earnings grew to their highest levels in the company’s history,” Yuval Wasserman, president and chief executive of Advanced Energy, said in a prepared statement.

In April, the company opened its third service center in China, and in July,  Advanced Energy expanded its industrial business with the acquisition of Ireland-based Excelsys.

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