We also invite you to join us for these presentations:

• Issues and Solutions for Dealing with a High-Capacitive Transmission Cable
  Forrest Morgan and Kevan Cameron, Advanced Energy
  Tuesday, April 22, 10:50 A.M. in L13
• Arc Prevention in Magnetron Sputtering Processes
  Dan Carter, Advanced Energy
  Tuesday, April 22, 11:10 A.M. in L14
• Predicting Functional Reliability in Power Plasma Processes
  Randy Heckman, Dan Carter, Victor Brouk, Advanced Energy
  Wednesday, April 23, 4:50 P.M. in A9

As a global leader in innovative power and flow technologies for 27 years, our outstanding products and broad service infrastructure make AE the easy choice for plasma generation and power conversion. We hope to see you at the show!

To contact our sales team, visit http://www.advanced-energy.com/en/Sales_Support.html, or call 800.446.9167 (U.S.) or +1.970.221.0108.

Our latest Sputter Spotlight(SM) e-newsletter is now available with the popular Ask Doug! column.

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Advanced Energy is a global leader in innovative power and flow technologies for high-growth, thin-film manufacturing and solar power applications. If you found this content helpful, we encourage you to forward this message in its entirety to friends and colleagues!

Advanced Energy Industries, Inc.
1625 Sharp Point Drive Fort Collins, CO 80525 USA
800.446.9167
970.221.0108
support@aei.com
www.advanced-energy.com

View our Privacy Policy and Terms of Use on our website.
Copyright 2008 Advanced Energy Industries, Inc. All rights reserved.

Advanced Energy Announces Strong First Quarter Results

Second Quarter 2008 Guidance

    CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
    (in thousands, except per share data)


                                                    Three Months Ended
                                                 March 31,        December 31,
                                             2008        2007         2007

    Sales                                    $88,887     $107,323   $83,836
    Cost of sales                             53,039       59,014    51,017
    Gross profit                              35,848       48,309    32,819

    Operating expenses:
         Research and development             13,085       12,035    12,510
         Selling, general and
          administrative                      14,468       15,218    16,075
         Amortization of intangible
          assets                                 240          324       218
         Restructuring charges                   674        2,792      (219)
              Total operating expenses        28,467       30,369    28,584

    Income from operations                     7,381       17,940     4,235

    Other income, net                            905        1,554     1,444
    Income from continuing operations
     before income taxes                       8,286       19,494     5,679
    Provision for income taxes                 2,320        6,823     1,512

    Net income                                $5,966      $12,671    $4,167

    Basic and diluted earnings per share       $0.13        $0.28     $0.09

    Basic weighted-average common shares
     outstanding                              44,662       44,941    45,274

    Diluted weighted-average common
     shares outstanding                       45,065       45,636    45,758



    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
    (in thousands)

                                                 March 31,        December 31,
                                                    2008              2007

    ASSETS

    Current assets:
         Cash and cash equivalents               $99,064           $94,588
         Marketable securities                    37,816           110,676
         Accounts receivable, net                 70,493            64,188
         Inventories, net                         51,603            50,532
         Deferred income taxes                    14,156            23,696
         Other current assets                      3,757             4,289
    Total current assets                         276,889           347,969

    Property and equipment, net                   31,870            30,912

    Deposits and other                            46,140             7,045
    Goodwill and intangibles, net                 72,528            67,768
    Customer service equipment, net                1,060             1,236
    Deferred income tax assets, net               14,614             4,098

    Total assets                                $443,101          $459,028


    LIABILITIES AND STOCKHOLDERS' EQUITY

    Current liabilities:
         Trade accounts payable                  $16,786           $12,424
         Other accrued expenses                   25,669            29,590
    Total current liabilities                     42,455            42,014

    Long-term liabilities                          9,979             9,953

    Total liabilities                             52,434            51,967

    Stockholders' equity                         390,667           407,061
    Total liabilities and stockholders'
     equity                                     $443,101          $459,028

Read the full article here.

For information on Advanced Energy(R)'s RF power and match technologies, visit our RF power web page.

Considerations In the Selection of Vapor Delivery Sub-Systems, by Thomas A. Karlicek and David H. Lee, appears in the March/April 2008 issue of Gases & Instrumentation. This article examines the three most common types of vapor delivery sub-systems and explains their basic theory of operation and typical hardware configuration.

Read the full article at http://gasesmag.com/articles.asp?pid=23.

For information on Advanced Energy(R)'s vapor delivery products, visit our Materials Delivery Systems web page.

Advanced Energy(R) will exhibit at China Glass 2008, April 10 to April 13. We invite you to stop by our booth (#114) where we will feature the following products.

Power Systems

• Pinnacle(R) Plus Pulsed-DC Power System
• Navigator(R) Digital Matching Network
• Apex(R) and Cesar(R) Power Delivery Systems

Flow Management

• Aera(R) PI-980(R) Pressure-Insensitive MFCs
• Aera(R) Transformer(TM) Series Digital MFC

Global Services

• Support Services
• Educational programs
  
• Consulting Services

As a global leader in innovative power and flow technologies for 27 years, our outstanding products and broad service infrastructure make AE the easy choice. We hope to see you at the show!

To contact our sales team, visit http://www.advanced-energy.com/RegionInfo.aspx?Region=China or call +86.21.50808801-102.

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This is a commercial e-mail message. If you do not wish to receive electronic messages from Advanced Energy(R) in the future, please follow this link http://www.advanced-energy.com/optout.aspx?email=carol.anderson-reinhardt%40aei.com, and we will take you off our mailing list. If you have trouble with the remove link, please reply to this e-mail with the subject line REMOVE.

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Advanced Energy is a global leader in innovative power and flow technologies for high-growth, thin-film manufacturing and solar power applications. If you found this content helpful, we encourage you to forward this message in its entirety to friends and colleagues!

Advanced Energy Industries, Inc.
1625 Sharp Point Drive
Fort Collins, CO 80525 USA
800.446.9167
970.221.0108
support@aei.com
www.advanced-energy.com
www.advanced-energy.net.cn

View our Privacy Policy and Terms of Use on our website.
Copyright 2008 Advanced Energy Industries, Inc. All rights reserved.

Annie Leschin / Brooke Deterline
Advanced Energy Industries, Inc.
970-407-6555
ir@aei.com

Advanced Energy to Report First Quarter 2008 Financial Results

FORT COLLINS, Colo., April 8, 2008 -- Advanced Energy Industries, Inc. (Nasdaq GM: AEIS) will release first quarter 2008 financial results on Wednesday, April 23, 2008. Management's quarterly company update will be held on April 23rd beginning at 3:00 p.m. Mountain Time/5:00 p.m. Eastern Time.

To participate in the live conference call, dial 888-713-4717 approximately 5 minutes prior to the start of the meeting, and an operator will connect you to the conference call. International participants may dial 706-634-7937. Participants will need to provide the operator with the conference pass code 42737664.

A live and archived webcast of the call will also be available on the company’s website. To access the webcast, visit the Investor Relations section of Advanced Energy’s corporate website at http://ir.advanced-energy.com, and link to the Q108 Webcast on the Investor Relations Home Page. The archived webcast will be available at the same location approximately 2 hours following the end of the event.

A telephone replay may be accessed for 48 hours following the event. To access the replay, dial 800-642-1687 or 706-645-9291 and enter the conference pass code 42737664.

About Advanced Energy^®

Advanced Energy^® develops innovative power and control technologies that drive high-growth, plasma thin-film manufacturing processes worldwide, including semiconductors, flat panel displays, data storage products, solar cells, architectural glass, and other advanced product applications. Advanced Energy^® also develops grid connect inverters for the solar energy market.

AE is a publicly held company traded on Nasdaq Global Market under the symbol AEIS. For more information, go to http://www.advanced-energy.com.

--------------------------------------------------------------------------------
Source: Advanced Energy Industries, Inc.

• Advances in Radio Frequency Plasma Power Delivery Systems

Click here to view our entire SEMICON show summary. Please feel free to contact us if you have any questions or would like additional information.

Advanced Energy Announces 2007 Fourth Quarter and Year-End Financial Results

Fort Collins, Colo, February 7, 2008 -Advanced Energy Industries, Inc. (Nasdaq GM: AEIS) today announced financial results for the fourth quarter and year ended December 31, 2007. Sales were $83.8 million for the fourth quarter of 2007, in line with the Company’s revised guidance announced on January 22, 2008. This represented a decrease of 19.8% from $104.5 million in the fourth quarter of 2006, and a sequential decline of 7.4% from $90.5 million in the third quarter of 2007, driven primarily by further declines in the semiconductor equipment industry and order delays by key OEMs.

Gross margin for the fourth quarter of 2007 was 39.1%, down from 42.9% in the fourth quarter of 2006, and down from 40.6% in the third quarter of 2007, due to lower sales.

Net income from continuing operations for the fourth quarter of 2007 was $4.2 million, or $0.09 per diluted share, compared to $39.4 million, or $0.87 per diluted share, in the fourth quarter of 2006, which includes a tax benefit of $23.5 million related to the reversal of a valuation allowance for deferred taxes. Net income from continuing operations for the fourth quarter of 2006, adjusted to exclude such tax benefit, was $15.9 million or $0.35 per diluted share. Net income from continuing operations also decreased sequentially from $5.9 million, or $0.13 per diluted share, in the third quarter of 2007.

Sales were $384.7 million for 2007, a 6.3% decrease from $410.7 million in 2006. Net income from continuing operations for 2007 was $34.4 million, or $0.75 per diluted share, compared to $87.2 million, or $1.93 per diluted share, in 2006. Net income from continuing operations for 2006, adjusted to exclude the tax benefit mentioned above, was $63.7 million, or $1.41 per diluted share.

“While 2007 was a challenging year for Advanced Energy, we have seen growth in our solar business including the successful launch of our Solaron™ inverter product. However, declines in the semiconductor equipment market pressured our sales once again in the fourth quarter,” said Dr. Hans Betz, president and chief executive officer of Advanced Energy. “As we move into 2008, we continue to focus on the diversification of our business and are working to drive down our costs, thereby positioning Advanced Energy for growth and profitability."

First Quarter 2008 Guidance

The Company anticipates first quarter 2008 financial results to be within the following ranges:
•Sales of $82 million to $88 million
•Earnings per share of $0.07 to $0.11
•Effective tax rate of 32%

Fourth Quarter 2007 Conference Call

Management will host a conference call today, Thursday, February 7, 2008 at 5:00 pm eastern standard time to discuss Advanced Energy's financial results. You may access this conference call by dialing (888) 713-4717. International callers may access the call by dialing (706) 634-7937. Participants will need to provide a conference passcode 31990872. For a replay of this teleconference, please call (800)-642-1687 or (706) 645-9291 utilizing the same passcode. The replay will be available through February 11, 2008. A webcast will also be available on Advanced Energy’s Investor Relations webpage at http://ir.advanced-energy.com.

About Advanced Energy

Advanced Energy® develops innovative power and control technologies that enable high-growth, plasma-based thin-film manufacturing processes worldwide, including semiconductors, flat panel displays, data storage products, solar cells, architectural glass, and other advanced product applications. Advanced Energy® also develops grid-connect inverters for the solar energy market.

This press release presents the company’s net income from continuing operations for the fourth quarter and year ended December 31, 2006, as adjusted to exclude a tax benefit of $23.5 million related to the reversal of a valuation allowance for deferred taxes. Such adjusted financial information for each period is a non-GAAP financial measure. Net income from continuing operations, also presented in this press release, is the most directly comparable financial measure calculated in accordance with U.S. generally accepted accounting principles (GAAP). A reconciliation of the differences between the non-GAAP financial measures we reference with such comparable GAAP financial measures are included at the end of this press release. Management believes that the non-GAAP financial measures included in this press release provide a useful measure of the company’s operating results and a meaningful comparison with the company’s 2007 operating results. Management and the board of directors of the company utilize these non-GAAP financial measures, in addition to GAAP financial measures, to evaluate and compare the company’s operating performance against internal financial forecasts and budgets, as well as current operating performance. Management and the board of directors, however, do not consider the non-GAAP financial measures to be a substitute for, or superior to, measures of financial performance calculated in accordance with GAAP.

The Company’s expectations with respect to financial results for the first quarter of 2008 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 volatility and cyclicality of the industries the company serves, particularly the semiconductor equipment industry, the timing of orders received from customers, the company's ability to realize cost improvement benefits from the global operations initiatives underway, and unanticipated changes to management's estimates, reserves or allowances. Implementation of the board-authorized repurchase of up to $75 million of the company’s stock also may affect the anticipated earnings per share set forth in this press release. 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.advanced-energy.com or by contacting Advanced Energy's investor relations at 970-407-6555. Forward looking statements are 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 Lowers Fourth Quarter 2007 Guidance

Fort Collins, Colo., January 22, 2008—Advanced Energy Industries, Inc. (Nasdaq: AEIS) today lowered its fourth quarter revenue guidance. The company now expects revenue of approximately $84 million versus its previous guidance of $86 million to $90 million, as weakness in the semiconductor market continued. Based on the revised revenue guidance and other charges to operating expenses, the company expects fourth quarter GAAP EPS to be in the range of $0.07 to $0.08 versus its previous guidance of $0.12 to $0.14.

"The decline of revenue during the fourth quarter was driven primarily by softness in the semiconductor industry and order delays by key OEMs. We will organize and implement cost reduction plans in light of the current market environment," said Lawrence D. Firestone, Executive Vice President and Chief Financial Officer.

Management will provide more detail on the results and outlook on the quarterly earnings call scheduled for Thursday, February 7, 2008 at 5:00 pm eastern standard time.

About Advanced Energy^®

Advanced Energy develops innovative power and control technologies that enable high-growth, plasma thin-film manufacturing processes worldwide, including semiconductors, flat panel displays, data storage products, solar cells, architectural glass, and other advanced product applications. Advanced Energy also develops grid connect inverters for the solar energy market.

AE is a publicly held company traded on Nasdaq Global Market under the symbol AEIS. For more information, go to http://www.advanced-energy.com.
 

Advanced Energy Announces the Resignation of Chief Operating Officer

Fort Collins, Colo., January 7, 2007—Advanced Energy Industries, Inc. (Nasdaq GM: AEIS) today announced the resignation of Mr. Steve Rhoades, Chief Operating Officer. Mr. Rhoades and the company have agreed that Mr. Rhoades will continue in his current capacity with the company for a transition period of up to six months.

Dr. Hans Betz, President and CEO stated, "I would like to express my thanks to Steve for his significant contributions to the company over the last five years. With Steve’s leadership, the company has established a world-class manufacturing operation, including the transition of high–volume manufacturing to China, providing the company with a strong platform for growth. We all wish Steve well with his future endeavors."
Mr. Rhoades added, "Advanced Energy has been a pivotal step in my career. I have had the pleasure of working with one of the top management teams in the industry and I would like to thank Hans Betz and the entire Advanced Energy team for the experience."

About Advanced Energy^®

Advanced Energy® develops innovative power and control technologies that enable high-growth, plasma thin-film manufacturing processes worldwide, including semiconductors, flat panel displays, data storage products, solar cells, architectural glass, and other advanced product applications. Advanced Energy® also develops grid connect inverters for the solar energy market.