DENVER (AP) — DENVER (AP) — Advanced Energy Industries Inc. (AEIS) on Tuesday reported third-quarter net income of $46.2 million, after reporting a loss in the same period a year earlier.
The Denver-based company said it had profit of $1.20 per share. Earnings, adjusted for one-time gains and costs, were $1.74 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.47 per share.
The maker of power-conversion products posted revenue of $463.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $440.6 million.
For the current quarter ending in December, Advanced Energy expects its per-share earnings to range from $1.50 to $2.
The company said it expects revenue in the range of $450 million to $490 million for the fiscal fourth quarter.
Advanced Energy shares have climbed 69% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $195.05, a climb of 77% 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
