DENVER (AP) _ Advanced Energy Industries Inc. (AEIS) on Wednesday reported first-quarter profit of $38.7 million.
On a per-share basis, the Denver-based company said it had net income of $1. Earnings, adjusted for one-time gains and costs, were $1.29 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.
The maker of power-conversion products posted revenue of $351.6 million in the period.
For the current quarter ending in July, Advanced Energy expects its per-share earnings to range from $1.10 to $1.40.
The company said it expects revenue in the range of $345 million to $375 million for the fiscal second quarter.
Advanced Energy shares have climbed 6.5% since the beginning of the year. The stock has risen 94% 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
