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Exhibit 99.1 Δ Advanced Energy . Financial News Release Advanced Energy Announces First Quarter 2021 Results • Q1 revenue was $ 352 million , above the guidance midpoint of $ 350 million ● GAAP EPS from continuing operations was $ 0.99 • . Non - GAAP EPS was $ 1.29 , above the guidance midpoint of $ 1.25 Q1 operating cash flow from continuing operations exceeded $ 54 million DENVER , Colo . , May 5 , 2021 - Advanced Energy Industries , Inc. ( Nasdaq : AEIS ) , a global leader in highly engineered , precision power conversion , measurement , and control solutions , today announced financial results for the first quarter ended March 31 , 2021 . " Financial results for the first quarter reflected strong market demand , with double - digit year over year revenue growth and a record quarter in Semiconductor , " said President and CEO Steve Kelley . " We see demand increasing through the balance of the year with tailwinds across all of our markets . We are focused on executing our strategy to grow faster than the market and accelerate earnings growth . " First Quarter Results Sales were $ 351.6 million in the first quarter of 2021 , compared with $ 371.0 million in the fourth quarter of 2020 and $ 315.5 million in the first quarter of 2020 . GAAP net income from continuing operations was $ 38.4 million or $ 0.99 per diluted share in the quarter , compared with $ 41.9 million or $ 1.09 per diluted share in the prior quarter , and $ 18.4 million or $ 0.48 per diluted share in the first quarter of 2020 . Non - GAAP net income was $ 49.7 million or $ 1.29 per diluted share in the first quarter of 2021. This compares with $ 57.3 million or $ 1.49 per diluted share in the fourth quarter of 2020 , and $ 34.9 million or $ 0.91 per diluted share in the first quarter of 2020 . A reconciliation of non - GAAP measures is provided in the tables below . The company generated $ 54.3 million of operating cash from continuing operations during the quarter , made debt principal payments of $ 4.4 million , and paid $ 3.9 million in a quarterly dividend . Discontinued Operations The company's financial statements for all periods presented reflect results for the continuing precision power business , with the discontinued inverter business included in discontinued operations for all purposes . Further financial detail regarding the amounts related to the discontinued inverter business is available in the company's 2020 Annual Report on Form 10 - K .