Advanced Energy Industries, Inc. announced unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported sales were $135,343,000 compared to $86,891,000 a year ago. Operating income was $38,546,000 compared to $16,173,000 a year ago. Income from continuing operations before income taxes was $38,627,000 compared to $14,512,000 a year ago. Net income was $44,281,000 or $1.11 diluted per share compared to $36,265,000 or $0.89 diluted per share a year ago.

For the year, the company reported sales were $483,704,000 compared to $414,811,000 a year ago. Operating income was $126,857,000 compared to $106,656,000 a year ago. Income from continuing operations before income taxes was $128,076,000 compared to $105,442,000 a year ago. Net income was $127,454,000 compared to loss of $158,486,000 a year ago. Net income was $127,454,000 or $3.18 diluted per share compared to loss of $158,486,000 or $3.89 diluted per share a year ago. Net cash provided by operating activities was $118,664,000 compared to $104,808,000 a year ago. Purchases of property and equipment were $6,821,000 compared to $4,014,000 a year ago.

The company provided earnings guidance for the first quarter of 2017. For the first quarter, the company expects revenues of $141 million to $151 million, GAAP earnings per share from continuing operations of $0.84 to $0.94 and Non-GAAP earnings per share from continuing operations of $0.90 to $1.00.