Advanced Energy reports sales growth

Advanced Energy Industries has announced that its sales for the first quarter of 2010 increased by 22.7 per cent to $81.6m (£53m) from $66.4m in the fourth quarter of 2009, and increased by 150 per cent from $32.6m in the first quarter of 2009.

First-quarter net income was $6.2m, or $0.15 per diluted share, compared to net income of $1.5m or $0.04 per diluted share in the fourth quarter of 2009.

Semiconductor sales rose 47.7 per cent sequentially to $48.6m, representing 59.6 per cent of total sales for the quarter.

Sales to the non-semiconductor markets increased by 3.9 per cent sequentially to $21.5m, representing 26.3 per cent of total sales for the quarter.