Advanced Energy Announces Second Quarter Results

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Advanced Energy Announces Second Quarter Results

AEIS

Linked by GlobeNewswire ( track newsfeed | ignore newsfeed ) - July 30, 04:09PM from (www.globenewswire.com)

FORT COLLINS, Colo., July 30, 2012 (GLOBE NEWSWIRE) -- Advanced Energy Industries, Inc. (Nasdaq:AEIS) today announced financial results for the second quarter ended June 30, 2012. The company posted second quarter sales of $115.7 million compared to $105.8 million in the first quarter of 2012 and $138.2 million in the second quarter of 2011. Income from continuing operations was $8.8 million or $0.22 per diluted share. On a non-GAAP basis, income from continuing operations was $7.3 million or $0.18 per diluted share. The non-GAAP measures exclude the impact of a $1.5 million after tax gain from the sale of mass flow control manufacturing assets and a $0.1 million restructuring gain. A reconciliation of non-GAAP income from continuing operations and earnings per share is provided in the tables below. The company ended the quarter with $149.0 million in cash and marketable securities, having generated $33.5 million of cash during the quarter, excluding share repurchases of $35.2 million.

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