Advanced Energy: 4Q Earnings Snapshot
FORT COLLINS, Colo. (AP) _ Advanced Energy Industries Inc. (AEIS) on Monday reported fourth-quarter net income of $19.4 million, after reporting a loss in the same period a year earlier.
The Fort Collins, Colorado-based company said it had profit of 50 cents per share. Earnings, adjusted for one-time gains and costs, were 73 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The maker of power-conversion products posted revenue of $154.2 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $155.7 million.
For the year, the company reported profit of $147 million, or $3.74 per share. Revenue was reported as $718.9 million.
For the current quarter ending in April, Advanced Energy expects its per-share earnings to range from 40 cents to 55 cents.
The company said it expects revenue in the range of $138 million to $148 million for the fiscal first quarter.
Advanced Energy shares have climbed 22 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $52.52, a fall of 25 percent in the last 12 months.