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.

“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.”

Leave a Reply

Your email address will not be published. Required fields are marked *