DENVER (AP) — DENVER (AP) — Advanced Energy Industries Inc. (AEIS) on Tuesday reported third-quarter net income of $32.7 million.
The Denver-based company said it had net income of 86 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.28 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.
The maker of power-conversion products posted revenue of $410 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $421.8 million.
For the current quarter ending in December, Advanced Energy expects its per-share earnings to range from 95 cents to $1.35.
The company said it expects revenue in the range of $390 million to $420 million for the fiscal fourth quarter.
Advanced Energy shares have climbed nearly 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $87.41, an increase of 11% 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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