XML 16 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Unaudited Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Unaudited Consolidated Statements of Operations        
Sales, net $ 516,274 $ 346,093 $ 1,354,682 $ 1,059,024
Cost of sales 325,056 226,054 856,990 666,449
Gross profit 191,218 120,039 497,692 392,575
Operating expenses:        
Research and development 49,760 40,578 141,383 120,865
Selling, general, and administrative 56,716 48,373 161,056 143,214
Amortization of intangible assets 7,049 5,607 19,081 16,504
Restructuring expense 121 1,272 1,178 2,521
Total operating expenses 113,646 95,830 322,698 283,104
Operating income 77,572 24,209 174,994 109,471
Other income (expense), net 8,940 495 11,347 (3,674)
Income from continuing operations, before income taxes 86,512 24,704 186,341 105,797
Provision for income taxes 11,639 3,657 29,795 10,817
Income from continuing operations 74,873 21,047 156,546 94,980
Income (loss) from discontinued operations, net of income taxes (697) (37) (615) 171
Net income 74,176 21,010 155,931 95,151
Income from continuing operations attributable to noncontrolling interest 9 6 16 70
Net income attributable to Advanced Energy Industries, Inc. $ 74,167 $ 21,004 $ 155,915 $ 95,081
Basic weighted-average common shares outstanding 37,379 38,183 37,482 38,296
Diluted weighted-average common shares outstanding 37,630 38,363 37,725 38,517
Earnings per share:        
Continuing operations: Basic earnings per share $ 2.00 $ 0.55 $ 4.18 $ 2.48
Continuing operations: Diluted earnings per share 1.99 0.55 4.15 2.46
Discontinued operations: Basic earnings (loss) per share (0.02)   (0.02)  
Discontinued operations: Diluted earnings (loss) per share (0.02)   (0.02)  
Net income:        
Basic earnings per share 1.98 0.55 4.16 2.48
Diluted earnings per share $ 1.97 $ 0.55 $ 4.13 $ 2.47