Advanced Energy Industries, Inc. (AEIS) Tops Q1 EPS by 2c

Advanced Energy Industries, Inc. (NASDAQ: AEIS) reported Q1 EPS of $0.43, $0.02 better than the analyst estimate of $0.41. Revenue for the quarter came in at $141 million versus the consensus estimate of $142.6 million.

"We largely delivered the results we anticipated in the first quarter. Our diversified business and powerful manufacturing and distributed R&D model drove increased profitability year over year," said Garry Rogerson, CEO of Advanced Energy. "New precision power product lines are extending our reach into additional applications and geographies and new inverter products are being well received in our markets. While our margins were pressured by first quarter inverter seasonality and the impact of new products on our mix, our results demonstrate the advantages of our broadening product lines. With the completion of two successful acquisitions since the beginning of the year, we continue to generate and deploy our cash effectively. Overall, our business model is expanding our opportunities for future growth as we add adjacent power conversion products and new markets and continue our focus on reducing costs to drive year over year profitability."

For earnings history and earnings-related data on Advanced Energy Industries, Inc. (AEIS) click here.

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