Advanced Energy Industries, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011; Provides Earnings Guidance for the First Quarter and Capital Expenditure Guidance for the Full Year of Fiscal 2012
January 31, 2012 at 02:52 am IST
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Advanced Energy Industries, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported sales of $112,495,000 against $148,653,000 for the same period a year ago. Operating loss was $3,098,000 against operating income of $23,962,000 for the same period a year ago. Loss from continuing operations before income taxes was $2,377,000 against income from continuing operations before income taxes of $24,354,000 for the same period a year ago. Loss from continuing operations, net of income taxes was $2,595,000 or $0.06 basic and diluted per share against income from continuing operations, net of income taxes of $19,730,000 or $0.45 diluted per share for the same period a year ago. Net loss was $2,770,000 or $0.06 basic and diluted per share against net income of $31,408,000 or $0.72 diluted per share for the same period a year ago. Income from operations without restructuring charge was $1,131,000, income from continuing operations, net of tax without restructuring charge was $521,000 or $0.01 diluted per share. Non-GAAP EPS was $0.01 per share, which excludes the restructuring charges of $4.2 million. Excluding the share repurchases, cash flow was $6.3 million for the quarter.
For the year, the company reported sales of $516,799,000 against $459,414,000 for the same period a year ago. Operating income was $49,251,000 against $65,188,000 for the same period a year ago. Income from continuing operations before income taxes was $50,468,000 against $67,409,000 for the same period a year ago. Income from continuing operations, net of income taxes was $36,854,000 or $0.84 diluted per share against $53,593,000 or $1.23 diluted per share for the same period a year ago. Net income was $36,314,000 or $0.84 diluted per share against $71,192,000 or $1.64 diluted per share for the same period a year ago. Income from operations without restructuring charge was $56,599,000, income from continuing operations, net of tax without restructuring charge was $42,106,000 or $0.96 diluted per share.
The company anticipates first quarter 2012 results from continuing operations to be within the ranges are sales of $95 million to $105 million and non-GAAP per share earnings of approximately break-even.
The current semiconductor capital expenditure outlook for 2012 is anticipated to modestly decline, although visibility remains somewhat cloudy. The company expects 2012 tax rate to follow within the same range of 25% to 27%.
Advanced Energy Industries, Inc. provides engineered, critical, precision power conversion, measurement, and control solutions to its customers. The Company designs, manufactures, sells, and supports precision power products that transform, refine, and modify the raw electrical power coming from either the utility or the building facility and convert it into various types of controllable, usable power that is predictable, repeatable, and customizable to meet the necessary requirements for powering a range of complex equipment. Its precision power products and solutions are designed to enable new process technologies, enhance productivity, and provide critical power capabilities for its customers. Its service group offers warranty and after-market repair services. It provides repair service and customer support through its worldwide support organization. Its support services include warranty and non-warranty repair services, calibration, upgrades, and refurbishments of its products.
Advanced Energy Industries, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011; Provides Earnings Guidance for the First Quarter and Capital Expenditure Guidance for the Full Year of Fiscal 2012