PV inverter maker Advanced Energy Industries (AEI) tripled its first-quarter net income to $18.9m, from $6.2ma year ago. Quarterly sales surged 98% to a record $137.6m, up from $69.7m a year earlier, with the company's thin-filmdivision accounting for $100.1m - an increase of 49.1%.
Sales in the renewables division were $37.6m, against $2.3m in the first quarter of 2010, reflecting North American solar market growth and the acquisition of PV Powered, a manufacturer of inverters for residential and commercial markets.
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