Advanced Energy Lowers Guidance for Third Quarter 2007 Revenue
August 30 2007 - 4:00PM
PR Newswire (US)
FORT COLLINS, Colo., Aug. 30 /PRNewswire-FirstCall/ -- Advanced
Energy Industries, Inc. (NASDAQ:AEIS) today lowered its expected
third quarter revenue guidance. The company expects third quarter
revenue to be in the range of $88 million to $92 million versus its
previous guidance of $95 million to $100 million, due to further
weakness in the semiconductor market.
(http://www.newscom.com/cgi-bin/prnh/20030825/AEISLOGO) "Orders in
the semiconductor equipment market have declined further than
anticipated from our previous guidance, causing us to lower our
revenue guidance for the third quarter of 2007," said Dr. Hans
Betz, president and chief executive officer of Advanced Energy.
"However, orders in the other markets that we serve are in the
ranges previously anticipated. Additionally, we have been pleased
with the positive response from the solar market regarding the
newly introduced Solaron(TM) Inverter for the Solar Energy market."
Management will host a conference call today, Thursday, August 30,
2007 at 4:15 p.m. eastern time to discuss Advanced Energy's updated
outlook. You may access this conference call by dialing (888)
713-4717 and utilizing the passcode of #15360797. For a replay of
this teleconference, please call (800) 642-1687 or (706) 645-9291,
utilizing the same passcode. The telephonic replay will be
available until 12 a.m. eastern time on August 31, 2007. There will
also be a webcast available on the Investor Relations webpage at
http://ir.advanced-energy.com/. This release contains
forward-looking statements subject to known and unknown risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements. Such risks and
uncertainties include, but are not limited to, the volatility and
cyclicality of the industries we serve and the timing of orders
received from our customers. These and other risks are described in
the company's Forms 10-K and 10-Q and other reports filed with the
SEC. The company assumes no obligation to update the information
provided in this press release or in its conference call scheduled
today, including the revised third quarter guidance. About Advanced
Energy(R) Advanced Energy(R) develops innovative power and control
technologies that enable high-growth, plasma thin-film
manufacturing processes worldwide, including semiconductors, flat
panel displays, data storage products, solar cells, architectural
glass, and other advanced product applications. Advanced Energy(R)
also develops grid connect inverters for the solar energy market.
AE is a publicly held company traded on Nasdaq Global Market under
the symbol AEIS. For more information, go to
http://www.advanced-energy.com/.
http://www.newscom.com/cgi-bin/prnh/20030825/AEISLOGO
http://photoarchive.ap.org/ DATASOURCE: Advanced Energy Industries,
Inc. CONTACT: Lawrence D. Firestone of Advanced Energy Industries,
Inc., +1-970-407-6570, ; or Annie Leschin, or Brooke Deterline,
both for Advanced Energy Industries, Inc., +1-970-407-6555, Web
site: http://www.advanced-energy.com/
http://ir.advanced-energy.com/
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