logo-loader
viewAdvanced Energy Industries, Inc.

Advanced Energy Industries’ Q4 results top views but shares dive

business_news_350_4d5abb2a56c66.jpg

Advanced Energy Industries (NASDAQ:AEIS), which manufactures power conversion systems, reported on Monday after the markets closed better-than-expected fourth quarter results.  However, the markets reacted negatively.   
As of 12:23 pm EST, the company’s shares are down 7.5%. 


The fall may have been because analysts were looking for more upside to the company’s first quarter outlook, according to financial website TheStreet.com.


For the fourth quarter, the Colorado-based company earned a net income of $31.4 million, or 45 cents per diluted share, up from $1.5 million, or 4 cents per diluted share for the year-ago period.  Revenues more than doubled to $148.7 million from $58 million, helped by strong sales in the renewable inverter segment. 


Analysts polled by Thomson Reuters expected the company to earn 39 cents a share on revenues of $145 million. 

Sales from the inverter segment rose 38% quarter-to-quarter while sales of the thin film segment grew 5.3%. 

Meanwhile, sales from the semiconductor segment fell 18.6% and service revenues held steady.

Bookings for the fourth quarter were $113.3 million, down 29% sequentially.

Gross margin for the fourth quarter increased sequentially to 43.6% from 43.1% in the third quarter, mainly due to a decline in warranty costs.


At quarter end, the company had $140.6 million of cash and investments.


For the first quarter of fiscal 2011, the company expects sales to be in the range of $132 million to $142 million. 

Earnings per share are expected to range from 32 cents a share to 38 cents a share.

Quick facts: Advanced Energy Industries, Inc.

Price: 73.89 USD

NASDAQ:AEIS
Market: NASDAQ
Market Cap: $2.82 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

CytoDyn continues to works on licensing deals as FDA continues its review on...

CytoDyn (OTCQB: CYDY) President and Chief Executive Officer Nader Pourhassan joined Steve Darling from Proactive to discuss a number of issues including the very latest on their clinical trials for a COVID-19 treatment. Pourhassan also told Proactive that they are in discussions with numerous...

3 hours, 35 minutes ago

2 min read