Advanced Energy revenue, earnings up in first quarter
DENVER — Advanced Energy Industries Inc. (Nasdaq: AEIS), a Denver power measurement and control systems company formerly headquartered in Fort Collins, posted first quarter sales and earnings that topped Wall Street expectations as well as results from the same period last year.
The company had quarterly sales of $351.6 million and earnings per share of $1.29, up from $315.5 million and $0.91, respectively, in the first quarter of 2020.
Zacks Consensus Estimate for earnings was $1.27 per share.
“Financial results for the first quarter reflected strong market demand, with double-digit year over year revenue growth and a record quarter in [the] semiconductor [division],” AE CEO Steve Kelley said in a prepared statement. “We see demand increasing through the balance of the year with tailwinds across all of our markets. We are focused on executing our strategy to grow faster than the market and accelerate earnings growth.”
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Advanced Energy is projecting sales of about $360 million in the second quarter.
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DENVER — Advanced Energy Industries Inc. (Nasdaq: AEIS), a Denver power measurement and control systems company formerly headquartered in Fort Collins, posted first quarter sales and earnings that topped Wall Street expectations as well as results from the same period last year.
The company had quarterly sales of $351.6 million and earnings per share of $1.29, up from $315.5 million and $0.91, respectively, in the first quarter of 2020.
Zacks Consensus Estimate for earnings was $1.27 per share.
“Financial results for the first quarter reflected strong market demand, with double-digit year over year revenue growth and a record quarter in [the] semiconductor [division],”…
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