DENVER (AP) — DENVER (AP) — Advanced Energy Industries Inc. (AEIS) on Tuesday reported fourth-quarter earnings of $37.5 million.

On a per-share basis, the Denver-based company said it had net income of $1. Earnings, adjusted for one-time gains and costs, were $1.24 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The maker of power-conversion products posted revenue of $405.3 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $407.7 million.

For the year, the company reported profit of $128.3 million, or $3.40 per share. Revenue was reported as $1.66 billion.

For the current quarter ending in March, Advanced Energy expects its per-share earnings to range from 50 cents to 90 cents.

The company said it expects revenue in the range of $335 million to $365 million for the fiscal first quarter.

Advanced Energy shares have fallen 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $106.60, a rise of 11% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AEIS at https://www.zacks.com/ap/AEIS

For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. , source Associated Press News