For more information, contact:
Advanced Energy Industries
Financial Relations Board/San Francisco
Advanced Energy Reduce Workforce, Takes One-Time Charge Due to Market Conditions; Expects Lower Sales And Loss For Third Quarter
FORT COLLINS, Colorado (August 13, 1998)
—Advanced Energy Industries, Inc. (Nasdaq: AEIS) has embarked on a broad restructuring program involving the layoff of 128 positions and a non-recurring charge of about $1.8 million in the third quarter of 1998 due to a significant downturn in semiconductor business. As a result of lower semiconductor customer demand, the Company estimates revenues of approximately $20 million and a net loss from operations between 12-15 cents per share for the third quarter which will end on September 30, 1998.