Welcome to our dedicated page for Advanced Energy Industries news (Ticker: AEIS), a resource for investors and traders seeking the latest updates and insights on Advanced Energy Industries stock.
Advanced Energy Industries Inc. designs and manufactures precision power conversion, measurement and control solutions for complex equipment and processes. News about AEIS commonly covers quarterly results, revenue trends in semiconductor equipment, data center computing, industrial and medical, and networking and telecommunications markets, product launches such as AC-DC power supplies, and board-authorized cash dividends.
Company updates also include investor conference participation and management commentary on demand, margins, cash flow, share repurchases and customer adoption of power electronics technologies. Its product categories include plasma power products, power supply units, converters, high-voltage solutions, SCR power controllers, and sensing and measurement solutions.
Advanced Energy Industries (AEIS) reported record financial results for Q3 2020, achieving sales of $389.5 million, up from $339.9 million in Q2 2020 and $175.1 million in Q3 2019. Net income was $45.6 million or $1.18 per diluted share, compared to $29.3 million or $0.76 in the previous quarter. Non-GAAP net income was $63.8 million or $1.66 per diluted share. The company also generated $67.5 million in operating cash flow. Guidance for Q4 2020 predicts revenues of $360 million +/- $20 million.
Advanced Energy Industries (NASDAQ: AEIS) announced that President and COO Neil Brinker will leave the company for family reasons, effective immediately, but will assist in the transition until the end of November. CEO Yuval Wasserman will take over Brinker’s presidential duties. The resignation is not related to company performance or any disputes. Advanced Energy is scheduled to report its Q3 results on November 5, 2020, and emphasizes its commitment to precision power solutions across various critical industries.
Advanced Energy Industries (NASDAQ: AEIS) is set to release its third quarter financial results on November 5, 2020, before the market opens. A conference call with management will follow at 8:30 a.m. ET. Interested participants can register for the call using a provided link, with confirmation details sent via email. The call will also be available for live streaming and archiving on the company's investor webpage approximately two hours after the event.
Advanced Energy Industries (NASDAQ: AEIS) has appointed Anne DelSanto and Lanesha Minnix to its Board of Directors. Both directors bring complementary skills that can enhance the company's growth strategy. DelSanto, with extensive experience in software and networking, and Minnix, with a robust background in industrial markets and legal expertise, are expected to contribute valuable insights. The company aims to strengthen shareholder value through this strategic appointment as it continues to grow profitably in its market.
Advanced Energy (Nasdaq: AEIS) has launched its new Impac® Series 600, a pyrometry platform designed for non-contact temperature measurement of non-metallic and coated metallic surfaces. This modular system supports temperature measurement at up to eight points and is applicable in various industrial sectors such as automotive and packaging. Key features include field-replaceable sensor heads and plug-and-play functionality, which reduces downtime and maintenance costs. Advanced Energy aims to enhance process control with its digital architecture, offering predictive maintenance capabilities.