FORT COLLINS, Colo. (AP) _ Advanced Energy Industries Inc. (AEIS) on Monday reported first-quarter profit of $15.4 million.
On a per-share basis, the Fort Collins, Colorado-based company said it had net income of 40 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 58 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The maker of power-conversion products posted revenue of $140.7 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $143.3 million.
For the current quarter ending in July, Advanced Energy expects its per-share earnings to range from 25 cents to 40 cents.
The company said it expects revenue in the range of $130 million to $140 million for the fiscal second quarter.
Advanced Energy shares have climbed 32% since the beginning of the year. In the final minutes of trading on Monday, shares hit $56.51, a drop of almost 10% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AEIS at https://www.zacks.com/ap/AEIS