Advanced Energy reports improved earnings for Q2

FORT COLLINS — Advanced Energy Industries Inc. (Nasdaq: AEIS) on Monday reported an increase in revenue and profit for its second quarter that ended June 30 compared with the same quarter a year ago.

The Fort Collins-based maker of power and control products used in semiconductors, flat-panel displays and other electronics, reported sales of $118.8 million for the quarter, up from $108.7 million for the same quarter a year ago and up from $103 during the first quarter of this year.

Profit for the quarter was $27.3 million, or 68 cents per share, compared with $20.2 million, or 50 cents per share during the first quarter, and $23.0 million, or 56 cents per share in the second quarter of 2015.

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“The second quarter exceeded our expectations on the top and bottom line with record contributions from our semiconductor and service businesses and a rebound in our Industrial markets,” Yuval Wasserman, Advanced Energy’s president and chief executive, said in a prepared statement. “Our current performance is a direct result of the adoption of our recent design wins in next-generation 3-D enabling technologies to volume production.”