Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Advanced Energy Industries
So what: First-quarter EPS of $0.43 almost tripled from the year-ago quarter and came in well ahead of the consensus estimate of $0.35. Sales almost doubled from the year-ago quarter to $138 million.
Now what: Bookings of $184 million more than doubled from the year-ago quarter's $83 million, which bodes well for the revenue outlook. Another positive for the outlook was the announcement that the company was awarded a contract, which should run from mid-2011 through 2013, for one of the largest photovoltaic solar installations in the U.S. At a P/E ratio of 8.5 times, this stock appears attractively priced.
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