Exhibit 99.1
 
 CONTACTS:Danny Herron
    
    Annie Leschin/Vanessa LehrAdvanced Energy Industries, Inc.
    
    Advanced Energy Industries, Inc.970.407.6570
    
    970.407.6555danny.herron@aei.com
    
    ir@aei.com
 ADVANCED ENERGY ANNOUNCES SECOND QUARTER RESULTS
 
    
    Revenue of $138.2 million, a 38.1% increase over Q2, 2010
    
    Operating Income of $17.3 million, 12.5% of revenue
    
    EPS of $0.31 share
 Fort Collins, Colo., July 25, 2011
  Thin Film Business Unit




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Renewables Business Unit
    Third Quarter 2011 Guidance
  
    
    Sales of $130.0 million to $145.0 million
 
    
    Earnings per share of $0.20 to $0.30
 Second Quarter 2011 Conference Call
 http://ir.advanced-energy.com
 About Advanced Energy
 www.advanced-energy.com




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Forward-Looking Language




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ADVANCED ENERGY INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)
(in thousands, except per share data)
 Three Months Ended
    
    
    Six Months EndedJune 30,
    
    

March
31,
    
    
    June 30,2011
    
    
    2010
    
    
    2011
    
    
    2011
    
    
    2010SALESCOST OF SALES
    
    $
    138,154
    
    
    $
    100,107
    
    
    $
    137,652
    
    
    $
    275,806
    
    
    $
    169,794GROSS PROFIT
    
    
    82,777
    
    
    
    55,548
    
    
    
    75,607
    
    
    
    158,384
    
    
    
    96,02855,377
    
    
    
    44,559
    
    
    
    62,045
    
    
    
    117,422
    
    
    
    73,76640.1
    %
    
    
    44.5
    %
    
    
    45.1
    %
    
    
    42.6
    %
    
    
    43.4
    %OPERATING EXPENSES:Research and development
    
    
    17,137
    
    
    
    13,515
    
    
    
    15,862
    
    
    
    32,999
    
    
    
    24,657Selling, general and administrative
    
    
    20,001
    
    
    
    17,183
    
    
    
    20,905
    
    
    
    40,906
    
    
    
    29,412Amortization of intangible assets
    
    
    921
    
    
    
    767
    
    
    
    921
    
    
    
    1,842
    
    
    
    767Total operating expenses
    
    
    38,059
    
    
    
    31,465
    
    
    
    37,688
    
    
    
    75,747
    
    
    
    54,836INCOME FROM OPERATIONS
    
    
    17,318
    
    
    
    13,094
    
    
    
    24,357
    
    
    
    41,675
    
    
    
    18,930Other income, net
    
    
    92
    
    
    
    220
    
    
    
    663
    
    
    
    755
    
    
    
    605Income from continuing operations before income taxes
    
    
    17,410
    
    
    
    13,314
    
    
    
    25,020
    
    
    
    42,430
    
    
    
    19,535Provision for income taxes
    
    
    3,898
    
    
    
    1,857
    
    
    
    6,254
    
    
    
    10,152
    
    
    
    3,228INCOME FROM CONTINUING OPERATIONS
    
    
    13,512
    
    
    
    11,457
    
    
    
    18,766
    
    
    
    32,278
    
    
    
    16,307Results from discontinued operations, net of tax
    
    
    74
    
    
    
    2,162
    
    
    
    140
    
    
    
    214
    
    
    
    3,529INCOME FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES
    
    
    74
    
    
    
    2,162
    
    
    
    140
    
    
    
    214
    
    
    
    3,529NET INCOME
    
    $
    13,586
    
    
    $
    13,619
    
    
    $
    18,906
    
    
    $
    32,492
    
    
    $
    19,836Basic weighted-average common shares outstanding
    
    
    43,571
    
    
    
    42,806
    
    
    
    43,440
    
    
    
    43,505
    
    
    
    42,440Diluted weighted-average common shares outstanding
    
    
    44,187
    
    
    
    43,327
    
    
    
    44,133
    
    
    
    44,156
    
    
    
    43,004EARNINGS PER SHARE:CONTINUING OPERATIONS:BASIC EARNINGS PER SHARE
    
    $
    0.31
    
    
    $
    0.27
    
    
    $
    0.43
    
    
    $
    0.74
    
    
    $
    0.38DILUTED EARNINGS PER SHARE
    
    $
    0.31
    
    
    $
    0.26
    
    
    $
    0.43
    
    
    $
    0.73
    
    
    $
    0.38DISCONTINUED OPERATIONSBASIC EARNINGS PER SHARE
    
    $
    0.00
    
    
    $
    0.05
    
    
    $
    0.00
    
    
    $
    0.00
    
    
    $
    0.08DILUTED EARNINGS PER SHARE
    
    $
    0.00
    
    
    $
    0.05
    
    
    $
    0.00
    
    
    $
    0.00
    
    
    $
    0.08NET INCOME:BASIC EARNINGS PER SHARE
    
    $
    0.31
    
    
    $
    0.32
    
    
    $
    0.44
    
    
    $
    0.75
    
    
    $
    0.47DILUTED EARNINGS PER SHARE
    
    $
    0.31
    
    
    $
    0.31
    
    
    $
    0.43
    
    
    $
    0.74
    
    
    $
    0.46




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ADVANCED ENERGY INDUSTRIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
 June 30,
    
    
    December 31,2011
    
    
    2010ASSETSCurrent assets:Cash and cash equivalents
    
    $
    135,564
    
    
    $
    130,914Marketable securities
    
    
    10,124
    
    
    
    9,640Accounts receivable, net
    
    
    128,802
    
    
    
    119,893Inventories, net
    
    
    100,392
    
    
    
    77,593Deferred income taxes
    
    
    7,689
    
    
    
    7,510Income taxes receivable
    
    
    2,388
    
    
    
    6,061Other current assets
    
    
    11,689
    
    
    
    10,156Total current assets
    
    
    396,648
    
    
    
    361,767Property and equipment, net
    
    
    38,408
    
    
    
    34,569Deposits and other
    
    
    8,795
    
    
    
    8,874Goodwill and intangibles, net
    
    
    93,094
    
    
    
    96,781Deferred income tax assets, net
    
    
    5,059
    
    
    
    3,166Total assets
    
    $
    542,004
    
    
    $
    505,157LIABILITIES AND STOCKHOLDERS EQUITYCurrent liabilities:Accounts payable
    
    $
    48,828
    
    
    $
    56,185Other accrued expenses
    
    
    47,130
    
    
    
    46,140Total current liabilities
    
    
    95,958
    
    
    
    102,325Long-term liabilities
    
    
    30,393
    
    
    
    28,864Total liabilities
    
    
    126,351
    
    
    
    131,189Stockholders equity
    
    
    415,653
    
    
    
    373,968Total liabilities and stockholders equity
    
    $
    542,004
    
    
    $
    505,157




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##### 



ADVANCED ENERGY INDUSTRIES,
INC. SEGMENT INFORMATION
(in thousands)
 Three
Months Ended

    
    
    Six Months EndedJune 30,
    
    

March 31,
    
    
    June 30,2011
    
    
    2010
    
    
    2011
    
    
    2011
    
    
    2010SALES:Thin Films
    
    $
    97,331
    
    
    $
    85,697
    
    
    $
    100,099
    
    
    $
    197,430
    
    
    $
    153,120Renewables
    
    
    40,823
    
    
    
    14,410
    
    
    
    37,553
    
    
    
    78,376
    
    
    
    16,674Total Sales
    
    
    138,154
    
    
    
    100,107
    
    
    
    137,652
    
    
    
    275,806
    
    
    
    169,794OPERATING INCOME:Thin Films
    
    $
    20,042
    
    
    
    
    
    
    $
    24,824
    
    
    $
    44,866Renewables
    
    
    321
    
    
    
    
    
    
    
    2,512
    
    
    
    2,833Total segment operating income
    
    
    20,363
    
    
    
    
    
    
    
    27,336
    
    
    
    47,699Corporate expenses
    
    
    (3,045
    )
    
    
    
    
    
    
    (2,979
    )
    
    
    (6,024
    )Other income, net
    
    
    92
    
    
    
    
    
    
    
    663
    
    
    
    755Income from continuing operations before income taxes
    
    $
    17,410
    
    
    
    
    
    
    $
    25,020
    
    
    $
    42,430