DENVER (AP) — DENVER (AP) — Advanced Energy Industries Inc. (AEIS) on Tuesday reported fourth-quarter earnings of $52.3 million.
The Denver-based company said it had profit of $1.30 per share. Earnings, adjusted for one-time gains and costs, came to $1.94 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.77 per share.
The maker of power-conversion products posted revenue of $489.4 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $475.2 million.
For the year, the company reported profit of $148.4 million, or $3.84 per share. Revenue was reported as $1.8 billion.
For the current quarter ending in March, Advanced Energy expects its per-share earnings to range from $1.69 to $2.19.
The company said it expects revenue in the range of $480 million to $520 million for the fiscal first quarter.
Advanced Energy shares have climbed 33% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $279.27, more than doubling 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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