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Advanced Energy tops Street 3Q forecasts

FORT COLLINS, Colo. (AP) _ Advanced Energy Industries Inc. (AEIS) on Monday reported third-quarter earnings of $83.9 million.

On a per-share basis, the Fort Collins, Colorado-based company said it had profit of $2.09. Earnings, adjusted for one-time gains and costs, were $1.19 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.

The maker of power-conversion products posted revenue of $176.6 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $165.7 million.

For the current quarter ending in December, Advanced Energy expects its per-share earnings to range from $1.15 to $1.25.

The company said it expects revenue in the range of $172 million to $182 million for the fiscal fourth quarter.

Advanced Energy shares have risen 71 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $93.64, a climb of 98 percent 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