DENVER (AP) — DENVER (AP) — Advanced Energy Industries Inc. (AEIS) on Thursday reported second-quarter profit of $27.1 million.
The Denver-based company said it had profit of 72 cents per share. Earnings, adjusted for one-time gains and costs, were $1.11 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The maker of power-conversion products posted revenue of $415.5 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $414.1 million.
For the current quarter ending in September, Advanced Energy expects its per-share earnings to range from 93 cents to $1.33.
Advanced Energy shares have increased 43% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $122.61, an increase of 32% 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
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