Advanced Energy News

Advanced Energy Announces Fourth Quarter Results

Tue, 31 Jan 2012 11:05:03 MST

For more information, contact:

Danny Herron
Advanced Energy Industries, Inc.
970.407.6570
danny.herron@aei.com

Annie Leschin/Vanessa Lehr
Advanced Energy Industries, Inc.
970.407.6555
ir@aei.com

Advanced Energy Announces Fourth Quarter Results

—Revenue of $112.5 million
—Cash and investments of $143 million
—Repurchased 1.7 million shares (at an average price of $10.26 per share for an aggregate purchase price of $18 million)
—Annualized restructuring cost savings reached $12 million

FORT COLLINS, Colo., Jan. 30, 2012—Advanced Energy Industries, Inc. (Nasdaq:AEIS) today announced financial results for the fourth quarter ended December 31, 2011. The company posted fourth quarter sales of $112.5 million compared to $148.7 million in the fourth quarter of 2010 and $128.5 million in the third quarter of 2011. Loss from continuing operations was $2.6 million or $0.06 per diluted share. On a non-GAAP basis, income generated from operations was 1.0% of sales, and earnings from our continuing operations on a per share basis was $0.01. The non-GAAP measures exclude the impact of the $4.2 million restructuring charge recorded in the fourth quarter. A reconciliation of non-GAAP income from operations and per share earnings is provided in the tables. We also generated $6.3 million in cash during the quarter before the share repurchase of $18 million.

"During the fourth quarter we made great strides executing on our strategic plan by consolidating facilities, redesigning incentive plans and repurchasing stock and we are well on our way to achieving our initial goals and exceeding our cost savings targets," said Garry Rogerson, chief executive officer. "While market conditions remain uncertain in the near-term, our focus is centered on accomplishing the objectives we laid out at our analyst day to realign our cost structure, accelerate revenue growth and effectively utilize our cash. Once implemented, these actions should improve our profitability and deliver exceptional value to our shareholders."

Thin Films Business Unit

Thin Films sales declined 29.1% to $54.4 million in the fourth quarter of 2011 from $76.8 million in the third quarter of 2011, primarily due to continued weak market conditions in solar panel and flat panel displays. In general, capital spending across all of our thin films end markets weakened this quarter. Year-over-year, Thin Films sales declined from $97.0 million in the fourth quarter of 2010.

Solar Energy Business Unit

Solar Energy sales were $58.1 million in the quarter, an increase of 12.3% from $51.7 million in both the third quarter of 2011 and the fourth quarter of 2010. The strongest area of growth continues to be in the utility-scale market where our Solaron inverters have been selected on some of the largest projects in North America.

Income/Loss from Continuing Operations

Loss from continuing operations for the fourth quarter was $2.6 million or $0.06 per diluted share, compared to income from continuing operations of $19.7 million or $0.45 per diluted share in the same period last year and income from continuing operations of $7.2 million or $0.16 in the third quarter of 2011. On a non-GAAP basis, excluding the impact of the restructuring charge, continuing operations generated income for the fourth quarter of 2011 of $0.5 million or per share earnings of $0.01.

Restructuring Charge

During the fourth quarter, the company incurred $4.2 million in charges related to the restructuring plan that was announced on September 28, 2011. Under the first phase of the plan, the company consolidated certain facilities and began aligning its engineering resources with the geographic footprint of its customer base by localizing R&D within the major geographies it serves. During the quarter, the company also started the transfer of manufacturing of certain solar inverter subcomponents to its Shenzhen, China factory. These and other efforts have resulted in savings from the first phase of the restructuring of approximately $12 million annually.

The second phase is expected to be implemented over the next 9 to 15 months as the company further reduces its cost structure, closes facilities, and relocates other functions to different regions worldwide. As a result, the company anticipates further charges in the amount of $4 to $8 million, principally for space consolidation, and another $1 million in additional severance costs over this timeframe. Once complete, the two phases of the restructuring plan, along with other cost savings initiatives and margin improvements, are expected to deliver annual savings higher than the originally anticipated $16 to $20 million.

First Quarter 2012 Guidance

The Company anticipates first quarter 2012 results from continuing operations to be within the following ranges:

Sales of $95 million to $105 million
Non-GAAP per share earnings of approximately break-even

Fourth Quarter 2011 Conference Call

Management will host a conference call tomorrow, Tuesday, January 31, 2012, at 8:30 a.m. Eastern Standard Time to discuss Advanced Energy's financial results. Domestic callers may access this conference call by dialing 888-713-4215. International callers may access the call by dialing 617-213-4867. Participants will need to provide conference pass code 60038080. For a replay of this teleconference, please call 888-286-8010 or 617-801-6888, and enter the pass code 45077705. The replay will be available for two weeks following the conference call. A webcast will also be available on the Investor Relations web page at http://ir.advanced-energy.com.

About Advanced Energy

Advanced Energy is a global leader in innovative power and control technologies for high-growth, thin-films manufacturing and solar-power generation. Founded in 1981, Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.

This release includes GAAP and non-GAAP operating income and per share earnings data. These non-GAAP measures are not in accordance with, or an alternative for, similar measures calculated under generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Advanced Energy believes that these non-GAAP measures provide useful information to management and investors regarding financial and business trends relating to its financial condition and results of operations. Additionally, the Company believes that these non-GAAP measures, in combination with its financial results calculated in accordance with GAAP, provides investors with additional perspective. The Company further believes that the items excluded from certain non-GAAP measures do not accurately reflect the underlying performance of its continuing operations for the period in which they are incurred, even though some of these excluded items may be incurred and reflected in the Company's GAAP financial results in the foreseeable future. The use of non-GAAP measures has limitations in that they do not reflect all of the amounts associated with its results of operations as determined in accordance with GAAP and these measures should only be used to evaluate the company's results of operations in conjunction with the corresponding GAAP measures.

For additional information on the items excluded from one or more of its non-GAAP financial measures, refer to the Form 8-K regarding this release furnished today to the Securities and Exchange Commission.

Forward-Looking Language

The Company's expectations with respect to guidance to financial results for the first quarter ending March 31, 2012, anticipated cost savings and restructuring activities and other statements that are not historical information are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to: the effects of global macroeconomic conditions upon demand for our products, the volatility and cyclicality of the industries the company serves, particularly the semiconductor industry, the continuation of RPS (renewable portfolio standards), the timing and availability of incentives and grant programs in North America and Europe related to the renewable energy market, renewable energy project delays resulting from solar panel price declines and increased competition in the solar inverter equipment market, the timing of orders received from customers, the Company's ability to realize benefits from cost improvement efforts and any restructuring plans, the ability to source materials and manufacture products, and unanticipated changes to management's estimates, reserves or allowances. These and other risks are described in Advanced Energy's Form 10-K, Forms 10-Q and other reports and statements filed with the Securities and Exchange Commission. These reports and statements are available on the SEC's website at www.sec.gov. Copies may also be obtained from Advanced Energy's website at www.advancedenergy.com or by contacting Advanced Energy's investor relations at 970-407-6555. Forward-looking statements are made and based on information available to the company on the date of this press release. The company assumes no obligation to update the information in this press release.

ADVANCED ENERGY INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (in thousands, except per share data)
	Three Months Ended			Twelve Months Ended
	December 31,		September 30,	December 31,
	2011	2010	2011	2011	2010

SALES	$ 112,495	$ 148,653	$ 128,498	$ 516,799	$ 459,414
COST OF SALES	73,607	83,910	79,651	311,642	260,215
GROSS PROFIT	38,888	64,743	48,847	205,157	199,199
	34.6%	43.6%	38.0%	39.7%	43.4%
OPERATING EXPENSES:
Research and development	14,393	15,275	17,592	64,984	56,604
Selling, general and administrative	22,343	24,586	16,473	79,722	74,543
Restructuring charges	4,229	--	3,119	7,348	--
Amortization of intangible assets	1,021	920	989	3,852	2,864
Total operating expenses	41,986	40,781	38,173	155,906	134,011

Operating income (loss)	(3,098)	23,962	10,674	49,251	65,188

Other income (loss), net	721	392	(259)	1,217	2,221
Income (loss) from continuing operations before income taxes	(2,377)	24,354	10,415	50,468	67,409
Provision for income taxes	218	4,624	3,244	13,614	13,816
INCOME (LOSS) FROM CONTINUING OPERATIONS, NET OF INCOME TAXES	(2,595)	19,730	7,171	36,854	53,593

Gain on sale of discontinued operations, net of tax	--	12,531	--	--	12,531
Income (loss) from discontinued operations, net of income taxes	(175)	(853)	(579)	(540)	5,068
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES	(175)	11,678	(579)	(540)	17,599

NET INCOME (LOSS)	$ (2,770)	$ 31,408	$ 6,592	$ 36,314	$ 71,192

Basic weighted-average common shares outstanding	43,316	43,315	43,535	43,465	42,862
Diluted weighted-average common shares outstanding	43,546	43,796	43,819	43,954	43,419

EARNINGS PER SHARE:
CONTINUING OPERATIONS:
BASIC EARNINGS PER SHARE	$ (0.06)	$ 0.46	$ 0.16	$ 0.85	$ 1.25
DILUTED EARNINGS PER SHARE	$ (0.06)	$ 0.45	$ 0.16	$ 0.84	$ 1.23

DISCONTINUED OPERATIONS
BASIC EARNINGS PER SHARE	$ (0.00)	$ 0.27	$ (0.01)	$ (0.01)	$ 0.41
DILUTED EARNINGS PER SHARE	$ (0.00)	$ 0.27	$ (0.01)	$ (0.01)	$ 0.41

NET INCOME:
BASIC EARNINGS PER SHARE	$ (0.06)	$ 0.73	$ 0.15	$ 0.84	$ 1.66
DILUTED EARNINGS PER SHARE	$ (0.06)	$ 0.72	$ 0.15	$ 0.83	$ 1.64

ADVANCED ENERGY INDUSTRIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands)
	December 31,	December 31,
	2011	2010
ASSETS	UNAUDITED	AUDITED

Current assets:
Cash and cash equivalents	$ 117,639	$ 130,914
Marketable securities	25,567	9,640
Accounts receivable, net	132,485	119,893
Inventories, net	80,283	77,593
Deferred income taxes	9,014	7,510
Income taxes receivable	13,826	6,061
Other current assets	11,672	10,156
Total current assets	390,486	361,767

Property and equipment, net	42,338	34,569

Deposits and other	8,959	8,874
Goodwill and intangibles, net	89,953	96,781
Deferred income tax assets, net	1,642	3,166
Total assets	$ 533,378	$ 505,157

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
Accounts payable	$ 44,828	$ 56,185
Other accrued expenses	46,416	46,140
Total current liabilities	91,244	102,325

Long-term liabilities	34,795	28,864

Total liabilities	126,039	131,189

Stockholders' equity	407,339	373,968
Total liabilities and stockholders' equity	$ 533,378	$ 505,157

ADVANCED ENERGY INDUSTRIES, INC. SEGMENT INFORMATION (UNAUDITED) (in thousands)
	Three Months Ended			Twelve Months Ended
	December 31,		September 30,	December 31,
	2011	2010	2011	2011	2010
SALES:
Thin Films	$ 54,420	$ 96,960	$ 76,764	$ 328,614	$ 353,696
Solar Energy	58,075	51,693	51,734	188,185	105,718
Total Sales	112,495	148,653	128,498	516,799	459,414

OPERATING INCOME:
Thin Films	$ 7,360		$ 16,015	$ 68,241
Solar Energy	231		1,259	4,323
Total segment operating income	7,591		17,274	72,564
Corporate expenses	(10,689)		(6,600)	(23,313)
Other income (loss), net	721		(259)	1,217
Income (loss) from continuing operations before income taxes	$ (2,377)		$ 10,415	$ 50,468

ADVANCED ENERGY INDUSTRIES, INC. SELECTED OTHER DATA (UNAUDITED) (in thousands)
Reconciliation of Non-GAAP measure - income from operations without restructuring charge	Three Months Ended	Twelve Months Ended
	December 31,	December 31,
	2011	2011

Operating Income (loss), as reported	$ (3,098)	$ 49,251
Add back:
Restructuring charge	4,229	7,348
Income from operations without restructuring charge	$ 1,131	$ 56,599

Reconciliation of Non-GAAP measure - income from continuing operations without restructuring charge	Three Months Ended	Twelve Months Ended
	December 31,	December 31,
	2011	2011

Income (loss) from continuing operations, net of tax, as reported	$ (2,595)	$ 36,854
Add back:
Restructuring charge, net of tax benefit	3,116	5,252
Income from continuing operations, net of tax without restructuring charge	$ 521	$ 42,106

Reconciliation of Non-GAAP measure - per share earnings from continuing operations without restructuring charge	Three Months Ended	Twelve Months Ended
	December 31,	December 31,
	2011	2011

Diluted earnings per share from continuing operations, as reported	$ (0.06)	$ 0.84
Add back:
per share impact of restructuring charge, net of tax benefit	0.07	0.12
Per share earnings from continuing operations without restructuring charge	$ 0.01	$ 0.96

Advanced Energy to Report Fourth Quarter and Full-Year 2011 Results on January 31st Before Market Open

Tue, 17 Jan 2012 12:42:16 MST

For more information, contact:

Danny Herron
Advanced Energy Industries, Inc.
970.407.6570
danny.herron@aei.com

Annie Leschin/Vanessa Lehr
Advanced Energy Industries, Inc.
970.407.6555
ir@aei.com

Advanced Energy to Report Fourth Quarter and Full-Year 2011 Results on January 31st Before Market Open

FORT COLLINS, Colo., Jan. 17, 2012—Advanced Energy Industries, Inc. (Nasdaq:AEIS) will release fourth quarter and full-year 2011 financial results after market on Monday, January 30, 2012. Management's quarterly conference call will be held on Tuesday, January 31, 2012, beginning at 6:30 a.m. Mountain Time / 8:30 a.m. Eastern Time.

To participate in the live conference call, please dial 888-713-4215 approximately five minutes prior to the start of the meeting, and an operator will connect you. International participants can dial 617-213-4867. Participants will need to provide the operator with conference pass code 60038080, which has been reserved for this call.

A live and archived webcast of the call will also be available on the company's website at www.advanced-energy.com on the Investor Relations Home Page. The archived webcast will be available at the same location approximately two hours following the end of the live event.

A telephone replay will be available for 14 days following the webcast. To access the replay, dial 888-286-8010 or 617-801-6888 and enter pass code 45077705.

About Advanced Energy

Advanced Energy is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation. Founded in 1981, Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.

Advanced Energy's Global Customer Satisfaction Recognized by Oerlikon With 2011 Supplier Award

Tue, 29 Nov 2011 15:57:13 MST

For more information, contact:

Cathy Kawakami
Director of Corporate Communications
Advanced Energy Industries, Inc.
+1. 970.407.6732

Advanced Energy's Global Customer Satisfaction Recognized by Oerlikon With 2011 Supplier Award

FORT COLLINS, Colo, Nov. 29, 2011—Advanced Energy Industries, Inc. (Nasdaq:AEIS) announced today that it has received the 2011 Supplier Award for On-Time Delivery from OC Oerlikon Corporation AG, a leading global supplier of PVD sputter systems. The award was presented at Oerlikon's Supplier Day held last week at the company's headquarters in Pfäffikon, Switzerland.

Yuval Wasserman, president of AE Thin Films, said, "Our most recent supplier award further recognizes Advanced Energy's commitment to customer satisfaction around the world. Our teams in Europe, Asia and North America work in close cooperation with our global customers to ensure consistent delivery so that they can meet high-volume demand from end users. Between February and October of this year, we achieved perfect performance of 100 percent on-time delivery to Oerlikon Systems, which is within the Advanced Technology Segment. This result exemplifies the responsiveness made possible by our best-in-class global operations, and the strong customer relationships we've built over our three decades of power conversion innovation."

Oerlikon Systems produces equipment for advanced nanotechnology, semiconductors and deposition equipment for the optical disc industry used by the world's leading end users. Advanced Energy supplies industry-leading DC and RF power products that are used in Oerlikon's multi-chamber cluster tools for a variety of semiconductor processing applications.

About Oerlikon Group

Oerlikon (SIX:OERL) is a leading high-tech industrial group specializing in machine and plant engineering. The Company is a provider of innovative industrial solutions and cutting-edge technologies for textile manufacturing, drive, vacuum, thin film, coating, and advanced nanotechnology. A Swiss company with a tradition going back over 100 years, Oerlikon is a global player with more than 17,000 employees at over 150 locations in 38 countries and sales of CHF 3.6 billion in 2010. The Company invested in 2010 CHF 239 million in R&D, with over 1 200 specialists working on future products and services. In most areas, the operative businesses rank either first or second in their respective global markets.

About Advanced Energy

Advanced Energy (Nasdaq:AEIS) is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation. Founded in 1981, Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.

Advanced Energy Announces $75 Million Share Repurchase Program

Tue, 29 Nov 2011 15:55:38 MST

For more information, contact:

Danny Herron
Advanced Energy Industries, Inc.
970.407.6570
danny.herron@aei.com

Annie Leschin/Vanessa Lehr
Advanced Energy Industries, Inc.
970.407.6555
ir@aei.com

Advanced Energy Announces $75 Million Share Repurchase Program

FORT COLLINS, Colo., Nov. 21, 2011—Advanced Energy Industries, Inc. (Nasdaq:AEIS) today announced that its Board of Directors has authorized the company to repurchase up to $75 million of its common stock over the next 12 months. Purchases under the program may be made from time-to-time in the public or private markets, through block trades, Rule 10b5-1 trading plans or other available means and may include the use of derivative contracts and structured share repurchase agreements. There is no minimum number of shares to be repurchased under the program, and it may be suspended or discontinued at any time. As of September 30, 2011, the company had approximately $155 million in cash, cash equivalents and marketable securities and approximately 43.6 million common shares outstanding.

"Current market valuations combined with our strong cash position and projected cash flow generation afford us the leverage to initiate this repurchase program while still maintaining flexibility for other initiatives," said Garry Rogerson, CEO. "This repurchase program is an important element of our strategy for returning value to our shareholders. We expect the program to be accretive to earnings going forward."

About Advanced Energy

Forward-Looking Language

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including the timing, extent and means of potential stock repurchases, as well as our expectation that the program will be accretive to earnings. Readers are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements are based upon information available to Advanced Energy on the date this release was issued. Advanced Energy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in this press release, including regulatory limitations on repurchases, conditions in the market for Advanced Energy's stock, management's determination to use available cash for other purposes and the company's ability to continue to generate cash from operations. Further information regarding factors that could affect Advanced Energy's ability to successfully execute its plan to repurchase common stock can be found in Advanced Energy's Form 10-K, Forms 10-Q and other reports and statements filed with the Securities and Exchange Commission. These reports and statements are available on the SEC's website at www.sec.gov. Copies may also be obtained from Advanced Energy's website at www.advanced-energy.com or by contacting Advanced Energy's investor relations at 970-407-6555.

Plasmatechnologie und Hochfrequenztechnik fuer plasmagestuetzte Prozesse

Thu, 10 Nov 2011 10:07:18 MST

An alle Kunden und Geschäftspartner von Advanced Energy:

AE bietet Ihnen hier ein modular aufgebautes Schulungsprogramm, das sich mit den Grundlagen der Plasmatechnik, DC und gepulsten DC sowie der Hochfrequenztechnik für plasmagestützte Vakuumprozesse befasst. Die Kurse werden von unseren Experten aus der Applikation durchgeführt, die langjährige Erfahrung in den unterschiedlichsten plasmagestützten Fertigungsprozessen besitzen.

Modulares Grundlagenseminar:

Plasmatechnologie und Hochfrequenztechnik für plasmagestützte Prozesse
21. – 24. November 2011 in Düsseldorf

Für weitere Infos und Anmeldung sehen Sie folgenden Link: http://www.advanced-energy.de/upload/File/Global_Services/DEU-PlasmaClassInv-250-03.pdf.

Mit freundlichen Grüßen,
Advanced Energy Industries, Inc.

Advanced Energy Launches Next Generation String Inverters with New PV Powered HE String Inverter Line

Tue, 8 Nov 2011 06:14:15 MST

For more information, contact:

Jessi Lord
Marketing Communications Manager
AE Solar Energy
+1.541.323.4185
jessica.lord@aei.com

Jason Morris or Heather Craft
Media Contacts
Schwartz MSL
+1.415. 512.0770
aesolarenergy@schwartzmsl.com

Advanced Energy Launches Next Generation String Inverters with New PV Powered HE String Inverter Line

Offering Greater Performance and System Intelligence at Lower Installation Costs

FORT COLLINS, Colo., Nov 8, 2011—Advanced Energy Industries, Inc. (Nasdaq: AEIS), today announced the launch of its next generation string inverters with the PV Powered (PVP) HE String inverter line, an all-new line of high-performance string inverters ideally suited for North American residential and small-commercial rooftop installations. The new PVP HE String line is the industry’s first inverter to offer standard ZigBee wireless monitoring. The innovative inverter also offers high-efficiency and multiple ease-of-installation features in a high reliability design from Advanced Energy (AE), a company that has set the standard in inverter reliability.

ZigBee based wireless monitoring allows the new PVP HE String inverters to communicate with an optional AE wireless gateway enabling easy access to vital inverter performance information at no cost, using MyPVpower.com. The integrated design and wireless features eliminate the need for inverter modifications in the field as well as complex cable configuration from the inverter. Integrating ZigBee monitoring also allows compatibility with other ZigBee enabled Smart Grid communication devices such as smart appliances, utility Smart Meters or home area network (HAN) controllers. Overall, AE’s innovative approach to integrated wireless monitoring provides customers with key capabilities not offered by other competitive solutions and sets the industry benchmark for Smart Grid interoperability.

“With this new line of string inverters, Advanced Energy continues to offer high performance products with innovative features, specifically tailored to our customers’ current and future needs,” said Steve Levy, vice president of sales and marketing for AE Solar Energy. “The new PVP HE String inverter architecture, including wireless monitoring, is yet another testament to our commitment to provide complete solutions to all segments of the market.”

With a 97 percent California Energy Commission (CEC) efficiency, the PVP HE String inverters produce more power throughout the day, and have features that lower total installation costs. The new inverter line’s wide maximum power point tracking (MPPT) window provides designers with a variety of stringing options for a multitude of roof types. Selectable AC voltage also offers flexibility by enabling the same inverter model to be used for multiple installation applications. Installation is made safer and easier with the inverters’ integrated front and side lifting handles, strategically located knockout sizes and integrated AC/DC fusing, making external combiner boxes or fuse boxes unnecessary.

The PVP HE String line offers power ranges from 3.8 to 7 kW and will be available in Q2 2012. AE’s new line of string inverters are covered by a standard 10-year warranty with optional 15- and 20-year warranties.

The company’s solar energy business is driving the adoption of solar by lowering the levelized cost of energy (LCOE) for our customers. By providing reliable, easy-to-install Solaron^® and PV Powered™ inverters and SiteGuard^® whole-site O&M services, AE enables utility-scale, commercial, and residential solar project developers to maximize the lifetime value of their power plants. Customers count on AE as a trusted partner leveraging 30 years of innovation leadership and global services infrastructure for optimum project performance. For more information on Advanced Energy’s inverter solutions, please visit www.advanced-energy.com/solarenergy.

About Advanced Energy

Advanced Energy (Nasdaq: AEIS) is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation. Founded in 1981, Advanced Energy is headquartered in Fort Collins, Colorado with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.

Advanced Energy Inverters Installed at 35 MW Utility-Scale California Solar Plant Project

Fri, 4 Nov 2011 10:50:25 MST

For more information, contact:

Jessi Lord
Marketing Communications Manager
AE Solar Energy
+1.541.323.4185
jessica.lord@aei.com

Jason Morris or Katy Garlinghouse
Schwartz Communications
+1.415. 512.0770
AESolarEnergy@schwartzcomm.com

Advanced Energy Inverters Installed at 35 MW Utility-Scale California Solar Plant Project

Solaron 500 kW Inverters Selected by Cupertino Electric Based on Industry-Leading LCOE

FORT COLLINS, Colo., Nov 04, 2011—Advanced Energy Industries, Inc. (Nasdaq: AEIS), today announced that its Solaron^® PV inverters have been installed at a 35-megawatt (MW) solar project located near Coalinga, California. The project was awarded to Advanced Energy (AE) by engineering and construction company Cupertino Electric, Inc. earlier this year to leverage the Solaron PV inverter's industry-leading energy-efficiency ratings and lowest Levelized Cost of Energy (LCOE).

"After considering all of the options, we found AE to be the best overall choice thanks to their combination of technical solution and price," said Meisa Kassis, project manager with Cupertino Electric, Inc. "Our successful delivery of this project to Pacific Gas and Electric Company (PG&E) was made possible by the contributions of subcontractors and suppliers like AE."

The 35 MW project consists of two sites owned by PG&E: Stroud, a 20 MW site, and Westside, a 15 MW site. The two sites are part of the first phase of a five-year PG&E plan to build 250 MW of solar power. The Stroud and Westside installations include 70 of AE's 500 kW Solaron^® grid-tied PV inverters, which provide low voltage ride through (LVRT) and reactive power control.

"We are honored to be selected by Cupertino Electric to be a part of this utility-scale solar power plant," said Steve Levy, VP of sales and marketing at AE Solar Energy. "The Central Valley holds incredible potential as a source of clean energy for California and this project shows the major strides utilities are making in accelerating the deployment of renewable energy. By selecting industry-leading technology that delivers maximum energy harvest and industry-best LCOE from a bankable partner like AE, our customers benefit and are a key part of the equation to maximize return on investment."

The company's solar energy business is driving the adoption of solar by lowering the LCOE for its customers. By providing reliable, easy-to-install Solaron and PV Powered™ inverters and SiteGuard^® whole-site O&M services, AE enables utility-scale, commercial, and residential solar project developers to maximize the lifetime value of their power plants. Customers count on AE as a trusted partner, leveraging 30 years of innovation leadership and global services infrastructure for optimum project performance. For more information on Advanced Energy's inverter solutions, please visit www.advanced-energy.com/solarenergy.

About Advanced Energy

Advanced Energy (Nasdaq: AEIS) is a leader in power conversion solutions for thin-film manufacturing and solar energy markets. Founded in 1981, Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.

About Cupertino Electric, Inc.

Cupertino Electric, Inc. (CEI) is headquartered in San Jose, Calif., and has provided expert engineering and construction services for a constantly evolving world for more than 57 years. Its Energy Alternatives Division designs, constructs and manages innovative solar and alternative energy solutions. For more information, visit www.cei.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50057160&lang=en

Advanced Energy Showcased Innovative Energy Management Solution Suite for the String, Commercial and Utility-Scale Solar Markets

Mon, 24 Oct 2011 11:45:19 MST

For more information, contact:

AE Solar Energy
Jessi Lord
+1.541.323.4185
Marketing Communications Manager
jessica.lord@aei.com

Schwartz MSL
Jason Morris or Heather Craft
+1.415.512.0770
aesolarenergy@schwartzmsl.com

Advanced Energy Showcased Innovative Energy Management Solution Suite for the String, Commercial and Utility-Scale Solar Markets

Complete Solution Provider Previewed New Inverters at Solar Power International 2011

FORT COLLINS, Colo., Oct 24, 2011—Advanced Energy Industries, Inc. (NASDAQ:AEIS), today announced it showcased its complete suite of energy management solutions at Solar Power International (SPI) last week in Dallas, Texas. This includes a new PV Powered HE String inverter line, the PV Powered 500 kilowatt (kW) inverter and the Advanced Energy (AE) Solar Plant Controller.

During SPI, AE showcased the next generation of string inverters with the PV Powered (PVP) HE String line, an all-new line of high-performance string inverters ideally suited for North American residential and small-commercial rooftop installations. The new PVP HE String inverters are the first to offer high-efficiency and key ease-of-installation features from a company who has set the standard in inverter reliability. With a 97 percent California Energy Commission (CEC) efficiency, the PVP HE String inverters produce more power throughout the day and have features that lower total installed cost. The PVP HE String line offers power ranges from 3.8 to 7 kW, is the industry's first inverter to offer standard ZigBee wireless monitoring and will be available in Q2 2012.

At the show, AE also showcased the PV Powered 500 kW and Solaron 500 1kV inverters. The PVP 500 kW features the industry's first inverter integrated DC circuit breaker subcombiner, which enables low cost compliance with NEC2011 and improves serviceability. Designed for the needs of large commercial and utility-scale applications, the PVP 500 kW accelerates payback with an estimated 98.2 percent peak efficiency and 97.5 percent CEC efficiency. The highly configurable PVP 500 kW will begin shipping Q1 2012 and will also be available in a stainless steel enclosure. The Solaron 500 1kV Inverters provide durable, robust building blocks for utility-scale PV installations, featuring very high efficiency and new utility interactive controls, including fixed power factor to 0.90 leading or lagging, low and zero voltage ride-through (LVRT, ZVRT) and better over/under frequency response. Solaron 500 1kV models are outdoor ready for cost-effective installation.

Also new to the market, the AE Solar Plant Controller offers intelligent plant level control for enhanced grid integration of solar power. The AE Plant Controller provides customers with both the utility-scale power plant control they require as well as state-of-the-art actionable site performance metrology. Available in the North American market, the AE Plant Controller is a direct result of AE's work with the Solar Energy Grid Integration System (SEGIS) program, funded by the U.S. Department of Energy Solar Energy Technologies Program.

"All of AE's latest offerings continue to set the standard for both efficiency and reliability, enabling system owners and operators to achieve the highest levels of system-wide performance, intelligence and reliability," said Steve Levy, vice president of sales and marketing for AE Solar Energy. "With 30 years of experience in power conversion, we understand project stakeholders' need for solar products that offer high performance and an outstanding long-term value, while at the same time offering flexible control, configuration and maintaining the lowest Levelized Cost of Energy."

Also on display at the AE booth were AE's new free web-based inverter direct monitoring service, as well as the company's innovative site monitoring and controls solutions. Additionally at the AE outdoor SPI exhibit, attendees were able to see the 2 MW PowerStation™. The pre-assembled, outdoor ready solution affords easy, fast and repeatable installations for utility-scale, multi-megawatt PV projects.

About Advanced Energy

Advanced Energy (NASDAQ:AEIS) is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation. Founded in 1981, Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.

Advanced Energy to Report Third Quarter 2011 Results on November 1

Mon, 24 Oct 2011 11:42:00 MST

For more information, contact:

Danny Herron
Advanced Energy Industries, Inc.
970.407.6570
danny.herron@aei.com

Annie Leschin/Vanessa Lehr
Advanced Energy Industries, Inc.
970.407.6555
ir@aei.com

Advanced Energy to Report Third Quarter 2011 Results on November 1

FORT COLLINS, Colo., October 18, 2011—Advanced Energy Industries, Inc. (Nasdaq:AEIS) will release third quarter 2011 financial results after market on Tuesday, November 1, 2011. Management's quarterly company conference call will be held on Wednesday, November 2, 2011, beginning at 6:30 a.m. Mountain Time / 8:30 a.m. Eastern Time.

To participate in the live conference call, please dial 800-706-7748 approximately five minutes prior to the start of the meeting, and an operator will connect you. International participants can dial 617-614-3473. Participants will need to provide the operator with the conference pass code, 72488976, which has been reserved for this call.

A live and archived webcast of the call will also be available on the company's website at www.advanced-energy.com on the Investor Relations Home Page. The archived webcast will be available at the same location approximately two hours following the end of the live event.

A telephone replay will be available for 14 days following the webcast. To access the replay, dial 888-286-8010 or 617-801-6888 and enter pass code 48571613.

About Advanced Energy

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Tue, 4 Oct 2011 06:07:00 MST

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Advanced Energy Industries, Inc.