Advanced Energy to delay annual report

DENVER — Advanced Energy Industries Inc. (Nasdaq: AEIS) has delayed the release of its annual report for 2021. The Denver-based energy company formerly headquartered in Fort Collins cited in a statement March 1 that personnel changes at its accounting firm caused the delay. 

Advanced Energy expected to receive a full audit of consolidated financial statements by Feb. 28, but late-stage staffing changes at Ernst & Young LLP, the company’s accounting firm, led to an unexpected delay.

Advanced Energy expects to file its annual report within the 15-day period as required by the law. There are no anticipated adjustments to previously reported financial results.

The report filed Feb. 9 indicates $1.46 billion in revenue for financial year 2021, 3% more than 2020 revenues,  and the company turned a $139 million gross profit in the fourth quarter, down from the $145 million gross profit reported fourth quarter 2020.

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