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Advanced Energy Industries, Inc. Message Board

  • nusaiba nusaiba Apr 30, 2013 11:30 AM Flag

    Advanced Energy Industries, Inc. (NASDAQ: AEIS) reported Q1 EPS of $0.29, $0.12 better than the analyst estimate of $0.17. Revenue for the quarter came in at $112 million versus the consensus estimate of $110.64 million

    Advanced Energy Industries (AEIS) Tops Q1 EPS by 12c; to Undertake Restructuring




    April 29, 2013 5:10 PM EDT
    Advanced Energy Industries, Inc. (NASDAQ: AEIS) reported Q1 EPS of $0.29, $0.12 better than the analyst estimate of $0.17. Revenue for the quarter came in at $112 million versus the consensus estimate of $110.64 million.

    With the recent acquisition of REFUsol, the company is undertaking a major restructuring to take advantage of additional cost saving opportunities. These activities will include the consolidation of certain facilities, product rationalization and further centralization of manufacturing. As a result, the company anticipates a second quarter restructuring charge of approximately $23 to $26 million, of which $20 to $23 million will be non-cash in nature. The total planned charges for this new initiative incurred over the next 9 months will be in the range of $30 to $35 million, of which $22 to $27 million will be non-cash in nature. We expect this restructuring to provide additional cost savings in the range of $18 to $20 million annually, including approximately $14 million of cash savings. The cost savings active

 
AEIS
47.02+0.25(+0.53%)Sep 29 4:00 PMEDT