ADVANCED ENERGY INDUSTRIES INC (Form: 8-K/A, Received: 09/19/2000 17:26:45)

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K
Amendment No.1

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 18, 2000

ADVANCED ENERGY INDUSTRIES, INC.
(Exact Name of Registrant as Specified in Charter)

          Delaware                     000-26966                84-0846841
(State or Other Jurisdiction    (Commission File Number)      (IRS Employer
      of Incorporation)                                     Identification No.)

1625 Sharp Point Drive, Fort Collins, Colorado       80525
 (Address of Principal Executive Offices)          (Zip Code)

Registrant's telephone number, including area code: (970) 221-4670

N/A

(Former Name or Former Address, if Changed Since Last Report)

Item 7 Financial Statements, Pro Forma Financial Information and Exhibits.

Exh. No.                Description

  23.1              Consent of Arthur Anderson, dated September 15, 2000
  23.2              Consent of KPMG, dated September 15, 2000

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:    September 15, 2000                 Advanced Energy Industries, Inc.




                                       By:    /s/ DOUGLAS S. SCHATZ
                                              --------------------------

Title: Chairman of the Board and Chief Executive Officer

EX-23.1

CONSENT OF ARTHUR ANDERSEN LLP

ARTHUR ANDERSEN LLP

EXHIBIT 23.1

CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

As independent public accountants, we hereby consent to the incorporation of our report included in this Form 8-K, into the Company's previously filed Registration Statements on Form S-8 (File Nos. 333-01616, 333-04073, 333-46705, 333-57233, 333-65413, 333-79425 and 333-79429).

Arthur Andersen LLP

Denver, Colorado,

September 15, 2000.

EX-23.2

CONSENT OF KPMG LLP

EXHIBIT 23.2

CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

To the Board of Directors
Advanced Energy Industries, Inc.:

We consent to the inclusion of our report dated January 16, 1998 with respect to the consolidated statements of income, shareholders' equity and cash flows of RF Power Products, Inc. and subsidiary, for the year ended November 30, 1997 and the related schedule (not separately presented herein), which report appears in the Form 8-K/A of Advanced Energy Industries, Inc. dated September 19, 2000. We also consent to incorporation by reference of such report in the registration statements (Nos. 333-79425 and 333-79429) on Form S-8 and the registration statement (No. 333-37378) on Form S-3 of Advanced Energy Industries, Inc.

KPMG LLP

Philadelphia, Pennsylvania
September 15, 2000

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

ARTICLE 5

RESTATED: ¹

MULTIPLIER: 1,000


PERIOD TYPE	YEAR	YEAR	YEAR	YEAR
FISCAL YEAR END	DEC 31 1995	DEC 31 1996	DEC 31 1997	DEC 31 1998
PERIOD START	JAN 01 1995	JAN 01 1996	JAN 01 1997	JAN 01 1998
PERIOD END	DEC 31 1995	DEC 31 1996	DEC 31 1997	DEC 31 1998
CASH	15,243	12,455	12,376	12,875
SECURITIES	0	0	20,175	15,839
RECEIVABLES	21,934	22,115	40,576	17,055
ALLOWANCES	(316)	(382)	(587)	(622)
INVENTORY	21,173	18,832	33,833	23,528
CURRENT ASSETS	60,578	56,249	110,849	77,745
PP&E	13,110	20,394	25,764	30,980
DEPRECIATION	(4,886)	(7,769)	(9,981)	(14,778)
TOTAL ASSETS	71,888	72,517	136,545	107,736
CURRENT LIABILITIES	19,133	12,884	33,661	14,520
BONDS	0	0	0	0
PREFERRED MANDATORY	0	0	0	0
PREFERRED	0	0	0	0
COMMON	26	26	27	29
OTHER SE	49,841	56,469	99,942	92,134
TOTAL LIABILITY AND EQUITY	71,888	72,517	136,545	107,736
SALES	130,184	138,074	188,339	134,019
TOTAL REVENUES	130,184	138,074	188,339	134,019
CGS	69,241	88,368	116,683	94,000
TOTAL COSTS	69,241	88,368	116,683	94,000
OTHER EXPENSES	34,050	39,448	49,889	54,767
LOSS PROVISION	0	0	0	0
INTEREST EXPENSE	690	340	553	340
INCOME PRETAX	26,451	10,183	20,893	(14,547)
INCOME TAX	10,110	4,055	7,962	(3,522)
INCOME CONTINUING	16,341	6,128	12,931	(11,025)
DISCONTINUED	0	0	0	0
EXTRAORDINARY	0	0	0	0
CHANGES	0	0	0	0
NET INCOME	16,341	6,128	12,931	(11,025)
EPS BASIC	0.71	0.24	0.49	(0.38)
EPS DILUTED	0.68	0.23	0.48	(0.38)


¹	RESTATED PER POOLING MERGER OF ADVANCED ENERGY AND SEKIDENKO, INC. IN Q2 2000

ARTICLE 5

RESTATED: ¹

MULTIPLIER: 1,000


PERIOD TYPE	3 MOS	6 MOS	9 MOS	YEAR
FISCAL YEAR END	DEC 31 1999	DEC 31 1999	DEC 31 1999	DEC 31 1999
PERIOD START	JAN 01 1999	JAN 01 1999	JAN 01 1999	JAN 01 1999
PERIOD END	MAR 31 1999	JUN 30 1999	SEP 30 1999	DEC 31 1999
CASH	12,909	12,598	12,603	21,043
SECURITIES	15,006	14,209	17,328	186,440
RECEIVABLES	24,313	32,834	40,039	47,110
ALLOWANCES	(596)	(599)	(595)	(639)
INVENTORY	24,227	25,716	26,088	28,410
CURRENT ASSETS	84,406	92,975	103,520	289,373
PP&E	32,160	32,634	33,890	36,328
DEPRECIATION	(15,951)	(15,906)	(17,314)	(18,629)
TOTAL ASSETS	113,456	122,163	134,642	325,433
CURRENT LIABILITIES	18,323	23,574	25,758	31,889
BONDS	0	0	0	135,000
PREFERRED MANDATORY	0	0	0	0
PREFERRED	0	0	0	0
COMMON	29	29	30	31
OTHER SE	94,193	97,607	107,388	156,958
TOTAL LIABILITY AND EQUITY	113,456	122,163	134,642	325,433
SALES	36,419	81,782	137,408	202,849
TOTAL REVENUES	36,419	81,782	137,408	202,849
CGS	21,187	46,280	76,955	110,647
TOTAL COSTS	21,187	46,280	76,955	110,647
OTHER EXPENSES	12,970	27,886	44,123	62,876
LOSS PROVISION	0	0	0	0
INTEREST EXPENSE	42	98	162	1,430
INCOME PRETAX	2,182	7,581	17,358	30,876
INCOME TAX	951	3,060	6,747	11,741
INCOME CONTINUING	1,231	4,521	10,611	19,066
DISCONTINUED	0	0	0	0
EXTRAORDINARY	0	0	0	0
CHANGES	0	0	0	0
NET INCOME	1,231	4,521	10,611	19,066
EPS BASIC	0.04	0.15	0.36	0.64
EPS DILUTED	0.04	0.15	0.35	0.62


¹	RESTATED PER POOLING MERGER OF ADVANCED ENERGY AND SEKIDENKO, INC. IN Q3 2000

ARTICLE 5

RESTATED: ¹

MULTIPLIER: 1,000


PERIOD TYPE	3 MOS	6 MOS
FISCAL YEAR END	DEC 31 2000	DEC 31 2000
PERIOD START	JAN 01 2000	JAN 01 2000
PERIOD END	MAR 31 2000	JUN 30 2000
CASH	19,837	20,124
SECURITIES	198,718	201,221
RECEIVABLES	53,925	56,374
ALLOWANCES	(645)	(644)
INVENTORY	31,468	36,431
CURRENT ASSETS	309,330	319,151
PP&E	38,227	41,337
DEPRECIATION	(20,153)	(21,797)
TOTAL ASSETS	345,086	356,440
CURRENT LIABILITIES	37,511	33,806
BONDS	135,000	135,000
PREFERRED MANDATORY	0	0
PREFERRED	0	0
COMMON	31	31
OTHER SE	171,111	186,306
TOTAL LIABILITY AND EQUITY	345,086	356,440
SALES	75,028	160,730
TOTAL REVENUES	75,028	160,730
CGS	38,361	81,700
TOTAL COSTS	38,361	81,700
OTHER EXPENSES	19,619	41,639
LOSS PROVISION	0	0
INTEREST EXPENSE	2,029	4,119
INCOME PRETAX	17,168	38,243
INCOME TAX	5,947	13,972
INCOME CONTINUING	11,238	24,355
DISCONTINUED	0	0
EXTRAORDINARY	0	0
CHANGES	0	0
NET INCOME	11,238	24,355
EPS BASIC	0.36	0.78
EPS DILUTED	0.35	0.75


¹	Restated per pooling merger of Advanced Energy & Sekidenko, Inc. in Q3 2000.