Advanced Energy Industries, Inc. · NASDAQ:AEIS
Advanced Energy Industries — Q4 2021 Earnings Presentation
12 slides from Advanced Energy Industries's earnings presentation, Feb 9, 2022
Slide 1: Q4 2021 Earnings Presentation
Q4 2021 Earnings Presentation FEBRUARY 9, 2022 1
Slide 2: Safe Harbor
SAFE HARBOR The company’s guidance with respect to anticipated financial results for future periods, potential future growth and profitability, future business mix, expectations regarding future market trends, future performance within specific markets and other statements herein that are not histor
Slide 3: Q4 2021 and Full Year 2021 Summary
Q4 2021 AND FULL YEAR 2021 SUMMARY • Q4 2021 results surpassed high end of guidance ranges ‒ Revenue of $397 million was a quarterly record; non-GAAP(1) earnings were $1.36 per share ‒ Q4 performance highlights our ability to quickly turn incremental parts into revenue upside ‒ 2021 revenue was a re
Slide 4: Strong Results on Improved Component Availability
STRONG RESULTS ON IMPROVED COMPONENT AVAILABILITY SEMICONDUCTOR INDUSTRIAL & DATA CENTER TELECOM & EQUIPMENT MEDICAL COMPUTING NETWORKING $179M, up 3.4% Q/Q $99M, up 22% Q/Q $80M, up 29% Q/Q $39M, up 31% Q/Q • Achieved record semi revenue for • Reached record I&M revenues • Delivered revenue above •
Slide 5: Q4 2021 Financial Highlights
Q4 2021 FINANCIAL HIGHLIGHTS REVENUE NON-GAAP GROSS MARGIN* OPERATING CASH FLOW $397 million 35.5% $34.5 million Up 15% Q/Q Down 60 bps Q/Q 8.7% of sales NON-GAAP EPS* NON-GAAP OP MARGIN* CASH & INVESTMENTS $1.36 13.8% $547 million Up 53% Q/Q Up 190 bps Q/Q Net Cash of $154 million * Non-GAAP measur
Slide 6: Q4 and 2021 Revenue by Market
Q4 AND 2021 REVENUE BY MARKET (figures in $ m illions) Q4 2021 Q3 2021 Q4 2020 Q/Q Y/Y 2021 2020 Y/Y Semiconductor Equipment $179.3 $173.4 $165.8 3.4% 8.2% $710.2 $611.9 16.1% Industrial & Medical $98.8 $80.8 $93.8 22.2% 5.3% $341.2 $313.6 8.8% Data Center Computing $80.1 $62.2 $65.3 28.7% 22.6% $27
Slide 7: Q4 and 2021 Income Statements
Q4 AND 2021 INCOME STATEMENTS (figures in $ m illions, except percentage & EPS) Q4 2021 Q3 2021 Q4 2020 Q/Q Y/Y 2021 2020 Y/Y Revenue $396.9 $346.1 $371.0 14.7% 7.0% $1,456.0 $1,415.8 2.8% GAAP gross margin 35.2% 34.7% 39.2% 36.6% 38.3% GAAP operating expenses $97.5 $95.8 $89.8 1.8% 8.7% $380.6 $365
Slide 8: Q4 2021 Balance Sheet & Cash Flow
Q4 2021 BALANCE SHEET & CASH FLOW (figures in $ m illions) Q4 2021 Q3 2021 Q4 2020 • Cash and investments decreased 1% to $547 million ‒ Net cash up slightly to $154 million Cash & $546.7 $550.8 $483.0 Investments • Receivables increased to $237 million Accounts $237.2 $220.1 $235.2 ‒ DSO improved t
Slide 9: Q1 2022 Guidance
Q1 2022 GUIDANCE Q1 2022 Revenue $360M +/- $20M GAAP EPS from continuing operations $0.61 +/- $0.25 Non-GAAP* EPS $0.94 +/- $0.25 * Non-GAAP measures exclude the impact of non-cash related charges such as stock-based compensation, amortization of intangible assets and unrealized foreign exchange gai
Slide 10: Non-GAAP Measures
NON-GAAP MEASURES Advanced Energy’s non-GAAP measures exclude the impact of non-cash related charges such as stock-based compensation, amortization of intangible assets, and unrealized foreign exchange gain or loss on long-term facility lease and pension obligations, as well as discontinued operatio
Slide 11: Non-GAAP Reconciliation
NON-GAAP* RECONCILIATION Reconciliation of Non-GAAP measure - operating expenses and operating Reconciliation of Non-GAAP measure - income, excluding certain items Three Months Ended Year Ended income excluding certain items Three Months Ended Year Ended December 31, September 30, December 31, Decem
Slide 12: Reconciliation of Guidance
RECONCILIATION OF GUIDANCE Reconciliation of Q1 2022 Guidance Low End High End Revenue $340 million $380 million Reconciliation of non-GAAP earnings per share GAAP earnings per share $ 0.36 $ 0.86 Stock-based compensation 0.11 0.11 Amortization of intangible assets 0.15 0.15 Restructuring and other
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