Page 1

● ● Advanced Advanced Energy Announces Second Quarter 2021 Results and $ 200 million Share Repurchase Authorization 4 Energy . Financial News Release Q2 revenue was $ 361 million , meeting the guidance midpoint and up 6 % from last year GAAP EPS from continuing operations was $ 0.92 Non - GAAP EPS was $ 1.25 , at midpoint of guidance and above year - ago EPS of $ 1.18 Share repurchase authorization increased to $ 200 million DENVER , Colo . , August 4 , 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 second quarter ended June 30 , 2021 . " We achieved year - over - year revenue and earnings growth in Q2 , " said Steve Kelley , president and CEO of Advanced Energy . " Although the near - term supply chain and operating environment remains challenging , demand continues to strengthen across all our markets , and we have solid visibility into 2022. We are winning with our highly - engineered , proprietary power solutions , positioning the company to deliver long - term profitable growth . " Second Quarter Results Sales were $ 361.3 million in the second quarter of 2021 , compared with $ 351.6 million in the first quarter of 2021 and $ 339.9 million in the second quarter of 2020 . 1 GAAP net income from continuing operations was $ 35.5 million or $ 0.92 per diluted share in the quarter , compared with $ 38.4 million or $ 0.99 per diluted share in the prior quarter , and $ 29.3 million or $ 0.76 per diluted share a year ago . Non - GAAP net income was $ 48.1 million or $ 1.25 per diluted share in the second quarter of 2021 . This compares with $ 49.7 million or $ 1.29 per diluted share in the first quarter of 2021 , and $ 45.4 million or $ 1.18 per diluted share in the second quarter of 2020 . A reconciliation of non - GAAP measures is provided in the tables below . The company generated $ 33.8 million of operating cash flow from continuing operations during the quarter , made debt principal payments of $ 4.4 million , repurchased $ 6.5 million of common stock at $ 90.34 per share , paid $ 15.1 million for the acquisition of Tegam , Inc. , and paid $ 3.9 million in a quarterly dividend .