Advanced Energy Industries, Inc. (Nasdaq: AEIS), has announced financial results for the first quarter ended March 31, 2020, the company said.
Sales were USD 315.5 million in the first quarter of 2020 compared with USD 338.3 million in the fourth quarter of 2019 and USD 140.7 million in the first quarter of 2019.
GAAP net income from continuing operations was USD 18.4 million or USD 0.48 per diluted share, compared with USD 10.5 million or USD 0.27 per diluted share in the prior quarter, and USD 15.4 million or USD 0.40 per diluted share in the first quarter of 2019.
Non-GAAP net income was USD 34.9 million or USD 0.91 per diluted share in the first quarter of 2020. This compares with USD 33.4 million or USD 0.87 per diluted share in the fourth quarter of 2019, and USD 22.4 million or USD 0.58 per diluted share in the first quarter of 2019.
Advanced Energy is a provider of the design and manufacturing of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. For more information, visit www.advancedenergy.com.