Advanced Energy Industries, Inc. lowered its fourth quarter revenue guidance. The company now expects revenue of approximately $84 million versus its previous guidance of $86 million to $90 million, as weakness in the semiconductor market continued.
Based on the revised revenue guidance and other charges to operating expenses, the company expects fourth quarter GAAP EPS to be in the range of $0.07 to $0.08 versus its previous guidance of $0.12 to $0.14.
"The decline of revenue during the fourth quarter was driven primarily by softness in the semiconductor industry and order delays by key OEMs. We will organize and implement cost reduction plans in light of the current market environment," said Lawrence D. Firestone, Executive Vice President and Chief Financial Officer.
Management will provide more detail on the results and outlook on the quarterly earnings call scheduled for Thursday, February 7, 2008 at 5:00 pm eastern standard time.
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