Advanced Energy Lowers Fourth Quarter 2007 Guidance

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.

Read the entire story on the source link below.

600450 Advanced Energy Lowers Fourth Quarter 2007 Guidance

See more news about:

Others also read

We thank all our visitors, members and friends for being part of our site during 2008. We’ve loved having you here. We would like to wish you Merry Christmas and a happy New Year.
Insulation giant Saint-Gobain Isover is inviting submissions for its 2009 international architectural student competition which has prize money totalling €6,500 at stake.
On 11 December 2008 the only producer of glass packaging in Slovakia, Vetropack Nemsova, a subsidiary of Vetropack Holding of Switzerland, launched a new automated line for sorting glass cullet, worth SKK 170mn (EUR 5.61mn USD 7.51mn).
Saint-Gobain Containers shut down its second furnace Monday in the second phase of a temporary layoff at the glass plant as a result of economic pressures.
Nuova Oxidal in cooperation with Politecnico di Milano and Texs consortium is organizing a specialization course for project, furnishing and building up of temporary spaces.
As a result of the extreme devaluation of the Ukrainian hryvnia (UAH) against the US dollar, the Vetropack Group has adjusted downwards its expectations for the current 2008 financial year.

Add new comment