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Advanced Energy Industries' solar energy business unit posted a second quarter 2012 revenue increase of 12%, compared with the first quarter as the US utility-scale market continued to expand. Solar energy sales were US$50.8 million in Q2, up 24% when compared to the same quarter a year ago, when sales reached US$40.8 million.
AE posted total sales of US$115.7 million compared to US$105.8 million in the first quarter of 2012.
"Second quarter results were highlighted by the sound profitability we achieved in both of our business units," said Garry Rogerson, chief executive officer. "With a record backlog and a strong pipeline of opportunities, our solar energy business continues to gain momentum in the North American market, which should help to offset some of the cyclicality in our thin film markets.”
AE said that it expected third-quarter 2012 results to be in the range of US$116 million to US$124 million.
