Advanced Energy Updates Third Quarter 2004 Outlook
September 29 2004 - 5:06PM
PR Newswire (US)
Advanced Energy Updates Third Quarter 2004 Outlook FORT COLLINS,
Colo., Sept. 29 /PRNewswire-FirstCall/ -- Advanced Energy
Industries, Inc. (NASDAQ:AEIS), a provider of process-centered
solutions critical to the production of semiconductors, flat panel
displays, data storage products, architectural glass and other
advanced product applications, today updated its outlook for the
third quarter ended September 30, 2004. (Logo:
http://www.newscom.com/cgi-bin/prnh/20030825/AEISLOGO) The Company
now expects third quarter sales to be approximately $91 million to
$93 million, or 15 percent to 16 percent lower than second quarter
2004 sales of $108.9 million, due to a general softening in demand
patterns and customer order push-outs in the semiconductor and flat
panel display industries. The Company previously anticipated sales
in the range of $103 million to $107 million for the third quarter
of 2004. Third quarter 2003 sales were $68.6 million. Based on the
lower third quarter 2004 sales volume, the Company expects net
income to be essentially breakeven. Doug Schatz, chairman and chief
executive officer, said, "Despite the near-term softening in demand
throughout the semiconductor and flat panel display supply chain,
sales to semiconductor customers are expected to outpace the growth
rate of the industry overall in the first nine months of 2004. We
have a leading market position that continues to strengthen with
the transition to 300mm and sub-90 nanometer wafer processing, and
the move to next generation flat panel display manufacturing. We
continue to focus on improving our operational efficiency so that
we are positioned to achieve our operating and profitability
targets at all sales levels." Third Quarter Conference Call
Management will host a conference call on Thursday, October 21,
2004 at 5:00 pm Eastern time to discuss Advanced Energy's third
quarter 2004 financial results. You may access this conference call
by dialing 888-713-4717. International callers may access the call
by dialing 706-679-7720. For a replay of this teleconference,
please call 706-645-9291, and enter the pass code 6231808. The
replay will be available through Thursday, October 28, 2004. There
will also be a webcast available at
http://www.advanced-energy.com/. About Advanced Energy Advanced
Energy is a global leader in the development and support of
technologies critical to high-technology manufacturing processes
used in the production of semiconductors, flat panel displays, data
storage products, compact discs, digital video discs, architectural
glass, and other advanced product applications. Leveraging a
diverse product portfolio and technology leadership, Advanced
Energy creates solutions that maximize process impact, improve
productivity and lower the cost of ownership for its customers.
This portfolio includes a comprehensive line of technology
solutions in power, flow, thermal management, and plasma and ion
beam sources for original equipment manufacturers (OEMs) and
end-users around the world. Advanced Energy operates in regional
centers in North America, Asia and Europe and offers global sales
and support through direct offices, representatives and
distributors. Founded in 1981, Advanced Energy is a publicly held
company traded on the Nasdaq National Market under the symbol AEIS.
For more information, please visit our corporate website:
http://www.advanced-energy.com/. Safe Harbor Statement This press
release contains certain forward-looking statements, including the
company's expectations with respect to Advanced Energy's financial
results for the third quarter of 2004. Forward-looking statements
are 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
semiconductor and semiconductor capital equipment industries,
Advanced Energy's ongoing ability to develop new products in a
highly competitive industry characterized by increasingly rapid
technological changes, Advanced Energy's ability to successfully
integrate acquired companies' operations, and other risks described
in Advanced Energy's Form 10-K, Forms 10-Q and other reports and
statements, as filed with the Securities and Exchange Commission.
These reports and statements are available on the SEC's website at
http://www.sec.gov/. Copies may also be obtained from Advanced
Energy's website at http://www.advanced-energy.com/ or by
contacting Advanced Energy's investor relations at 970-407-6305.
The company assumes no obligation to update the information in this
press release.
http://www.newscom.com/cgi-bin/prnh/20030825/AEISLOGO
http://photoarchive.ap.org/ DATASOURCE: Advanced Energy Industries,
Inc. CONTACT: Mike El-Hillow, Executive Vice President, Chief
Financial Officer, +1-970-407-6570, , or Cathy Kawakami, Director
of Investor Relations, +1-970-407-6732, , both of Advanced Energy
Industries, Inc. Web site: http://www.advanced-energy.com/
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