For more information, contact:

Richard Beck Advanced Energy Industries, Inc. 970.407.6204 dick.beck@aei.com

Janet Nelson The Financial Relations Board 415.986.1591

Advanced Energy Reports Significant Earnings Gain with First Quarter Revenues up 105 Percent

FORT COLLINS, CO (April 13, 2000) - Advanced Energy Industries, Inc. (Nasdaq NM: AEIS) today reported financial results for the first quarter ended March 31, 2000. Advanced Energy is an industry-leading manufacturer of critical power delivery systems, ion sources, and plasma gas abatement systems, all of which are critical components of manufacturing equipment used to make semiconductors, compact disks, data storage, flat panel displays, and industrial products. For the first quarter, revenues were $67.2 million, up approximately 105 percent from $32.7 million for the first quarter of 1999 and up 15 percent from $58.6 million for the fourth quarter of 1999.

 

"Continued strength in the semiconductor equipment sector was a significant contributor to our overall revenue growth and earnings for the quarter. Robust demand for DVD manufacturing equipment also played a big part," said Douglas S. Schatz, chairman and CEO. "With industry conditions continuing to be as favorable as they have thus far been this year, our outlook for the remaining quarters is becoming increasingly optimistic," he added.

Net income in the first quarter increased significantly to $10 million from $534,000 for the first quarter of 1999 and was up 25% from $8 million for the fourth quarter of 1999.

Diluted EPS in the first quarter were $0.34 compared to $0.02 for the same quarter last year. Compared to the fourth quarter of 1999, diluted EPS were up 21% from $0.28 per diluted share.

According to Mr. Schatz, "So far this year we have already made two important additions to our product offerings.

Through the exclusive agreement Advanced Energy Industries signed with Symphony Systems in March, we are now able to offer our customers specialized software enabling remote management of semiconductor process tools. Additionally, through our recent acquisition of Noah Holdings, we are now able to provide our customers with sophisticated temperature control systems that are required for semiconductor manufacturing. Looking ahead, we expect to continue to execute on our plan to expand the portfolio of complementary products, services and solutions we can deliver to our customers."

Safe Harbor Statement
Except for any historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including the achievement of goals established by the Company to improve revenue, continued sales growth in non-semiconductor areas, and other risks detailed from time to time in the Company's Securities and Exchange Commission reports, including the Company's Form 10-K and Forms 10-Q. The Company continues to be susceptible to fluctuations in quarterly and annual revenues and operating results and the volatility of the semiconductor and semiconductor capital equipment industries. The Company assumes no obligation to update the information in this release.

About the Company
Founded in 1981, Advanced Energy Industries, Inc. is a leading manufacturer of power delivery systems that are critical in the manufacturing of semiconductors, data storage media, flat panel displays, and other products using thin-film technology. Within its comprehensive product portfolio of direct current (DC), low/mid-frequency and radio frequency (RF) power solutions, the Company sells products critical in applications ranging from compact disks, digital video disks, flat panel displays, the most popular logic semiconductor devices, among other applications. The Company's stock is traded on the Nasdaq National Market System under the symbol AEIS.

For more information, access Advanced Energy's web site at www.advanced-energy.com or for more information via fax (at no cost), dial 1-800-PRO-INFO, code AEIS.