Advanced Energy: Q1 Earnings Snapshot

DENVER (AP) — DENVER (AP) — Advanced Energy Industries Inc. (AEIS) on Wednesday reported first-quarter earnings of $30.9 million.

On a per-share basis, the Denver-based company said it had net income of 82 cents. Earnings, adjusted for one-time gains and costs, were $1.24 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.

The maker of power-conversion products posted revenue of $425 million in the period.

For the current quarter ending in June, Advanced Energy expects its per-share earnings to range from 75 cents to $1.25.

The company said it expects revenue in the range of $390 million to $430 million for the fiscal second quarter.

Advanced Energy shares have climbed 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $87.46, an increase of 11% in the last 12 months.

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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