DENVER (AP) — DENVER (AP) — Advanced Energy Industries Inc. (AEIS) on Wednesday reported fourth-quarter net income of $48.9 million.
On a per-share basis, the Denver-based company said it had net income of $1.29. Earnings, adjusted for one-time gains and costs, came to $1.30 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The maker of power-conversion products posted revenue of $415.4 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $390.2 million.
For the year, the company reported profit of $54.2 million, or $1.43 per share. Revenue was reported as $1.48 billion.
For the current quarter ending in March, Advanced Energy expects its per-share earnings to range from 78 cents to $1.28.
The company said it expects revenue in the range of $372 million to $412 million for the fiscal first quarter.
Advanced Energy shares have fallen slightly more than 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $110.59, a rise of nearly 5% 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
