Advanced Energy Industries Q3 Profit Down, Tops View

(RTTNews) - Advanced Energy Industries Inc. (AEIS) Monday reported third-quarter net income of $687 thousand or $0.02 per share, down from $5.7 million or $.15 per share last year.

Adjusted earnings from continuing operations excluding restructuring charges rose to $ 0.57 per share from $0.20 per share last year. On average, nine analysts polled by Thomson Reuters expected earnings of $0.33 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter surged to $142.9 million from $117.5 million last year. Analysts estimated revenues of $146.61 million for the quarter.

Looking forward to the fourth quarter, the company expects earnings of $0.47 to $0.52 per share, adjusted earnings of $0.59 to $0.63 per share and sales of $145 million to $155 million. Analysts currently estimate earnings of $0.36 per share on revenues of 150.48 million for the quarter.