Advanced Energy revenues slide in Q3

FORT COLLINS — Advanced Energy Industries Inc. (Nasdaq: AEIS) posted lower revenues in the third quarter of fiscal year 2018 compared with the previous quarter and the same period in 2017.

Sales totaled $173.1 million in the quarter that ended Sept. 30. The Fort Collins-based power-conversion and measurement-systems manufacturer posted revenue of $196 million in the second quarter of 2018 and $176.6 million in the third quarter of 2017.  

“As expected, near-term delays in capital spending by some semiconductor manufacturers impacted our revenues from semiconductor markets,” Advanced Energy CEO Yuval Wasserman said in a written statement. “However, revenues from our Industrial markets reached another record high, reflecting the benefits of our diversified growth strategy, including our acquisition of LumaSense Technologies.”

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That July acquisition of LumaSense added a line of photonic-based measurement and monitoring solutions that complement Advanced Energy’s line of pyrometry-based temperature measurement products.

“We expect our fourth quarter to be impacted by the continued pause in semiconductor capital spending and by seasonally lower activity in our Industrial markets,” Wasserman said. “However, we believe the long-term drivers in both markets to be intact.“

Advanced Energy has plans to expand and modernize its Fort Collins facilities and laboratories by creating a state-of-the-art research and development, engineering and service hub. The company is also moving dozens of employees to new offices in Denver.