Advanced Energy posts $158.5M loss for 2015

FORT COLLINS — Advanced Energy Industries Inc. (Nasdaq: AEIS) saw revenue increase 13 percent for its 2015 fiscal year but swung to loss as the Fort Collins-based firm wound down its solar inverter business.

The company — which makes power and control products used in semiconductors, flat-panel displays and other electronics — on Monday reported financial results for the quarter and year ending Dec. 31.

The company turned in a net loss for the year of $158.5 million, or $3.89 per share. That’s compared with a profit of $47 million, or $1.14 per share, in 2014. Sales for 2015 hit $414.8 million, up from $367.3 million.

Advanced Energy’s stock price closed at $27.58 Monday, down 50 cents from Friday’s close.

For the fourth quarter, the company recorded a profit of $36.3 million, or 89 cents per share, up form a profit of $9.3 million for the same period a year earlier. Fourth-quarter revenue was $86.9 million, down from $110.2 million a year before.

“With the wind down of inverters now complete, we turn our focus to addressing the growing number of critical applications for our precision power products and technologies,” Advanced Energy president and CEO Yuval Wasserman said in the company’s earnings report. “Our continuing strong cash generation is enabling us to pursue these opportunities while simultaneously repurchasing shares and returning value to our shareholders.”

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