Advanced Energy Lowers Fourth Quarter 2007 Guidance
January 22 2008 - 4:15PM
PR Newswire (US)
FORT COLLINS, Colo., Jan. 22 /PRNewswire-FirstCall/ -- Advanced
Energy Industries, Inc. (NASDAQ:AEIS) today lowered its fourth
quarter revenue guidance. The company now expects revenue of
approximately $84 million versus its previous guidance of $86
million to $90 million, as weakness in the semiconductor market
continued. Based on the revised revenue guidance and other charges
to operating expenses, the company expects fourth quarter GAAP EPS
to be in the range of $0.07 to $0.08 versus its previous guidance
of $0.12 to $0.14. "The decline of revenue during the fourth
quarter was driven primarily by softness in the semiconductor
industry and order delays by key OEMs. We will organize and
implement cost reduction plans in light of the current market
environment," said Lawrence D. Firestone, Executive Vice President
and Chief Financial Officer. Management will provide more detail on
the results and outlook on the quarterly earnings call scheduled
for Thursday, February 7, 2008 at 5:00 pm eastern standard time.
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, +1-970-407-6570, , or Annie
Leschin or Brooke Deterline, +1-970-407-6555, , all of Advanced
Energy Industries, Inc. Web site: http://www.advanced-energy.com/
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