Advanced Energy, parent company of Bend-based PV Powered, expects to see lower second-quarter revenues than the company previously predicted, according to a statement released Tuesday.
The Fort Collins, Colo.- based company expects revenues between $137 million and $140 million for the quarter ending June 30, a decline from the $148 million to $160 million it predicted in early May.
Along with solar inverters made by PV Powered in Bend and in its Fort Collins plant, Advanced Energy makes power conversion and control systems used in semiconductor, flat panel display and other high-tech manufacturing.
Changes in the solar market caused the revenue revision, Hanz Betz, chief executive officer, said in a statement, including declining solar panel prices, permitting and other issues that prompted customers to delay purchases.
Advanced Energy expects to announce its second-quarter financial results July 25 after the market closes, with management providing its update the following day.
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