Advanced Energy Cuts Revenue Forecast as Solar Panel Prices Drop
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Advanced Energy Industries Inc. cut its revenue forecast for the second quarter, saying price declines for solar panels are causing some customers to delay orders.
The Fort Collins, Colorado, company expects to report revenue between $137 million and $140 million for the period, below the range of $148 million to $160 million it projected on May 2. Earnings will be “slightly lower” than the range it projected, according to a statement on Globe Newswires.