DENVER (AP) — DENVER (AP) — Advanced Energy Industries Inc. (AEIS) on Tuesday reported second-quarter net income of $25.2 million.
The Denver-based company said it had profit of 67 cents per share. Earnings, adjusted for one-time gains and costs, were $1.50 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.
The maker of power-conversion products posted revenue of $441.5 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $419.1 million.
For the current quarter ending in September, Advanced Energy expects its per-share earnings to range from $1.20 to $1.70.
The company said it expects revenue in the range of $420 million to $460 million for the fiscal third quarter.
Advanced Energy shares have increased 21% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $139.55, an increase of 43% 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
