SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
July 15, 2002
Advanced Energy Industries, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware
(State or Other Jurisdiction
of Incorporation)
000-26966
(Commission File Number)
84-0846841
(IRS Employer
Identification No.)
1625 Sharp Point Drive, Fort Collins, Colorado
(Address of Principal Executive Offices) |
80525
(Zip Code) |
Registrants telephone number, including area code: (970) 221-4670
N/A
(Former Name or Former Address, if Changed Since Last Report)
Item 4. CHANGES TO REGISTRANTS CERTIFYING ACCOUNTANT.
On July 15, 2002, Advanced Energy Industries, Inc. (Advanced Energy)
dismissed Arthur Andersen LLP (Andersen), as its independent accountant, and
appointed KPMG LLP (KPMG LLP) as its new independent accountant for the
fiscal year ending December 31, 2002, replacing Andersen. The decision to
dismiss Andersen and retain KPMG was approved by Advanced Energys Board of
Directors upon the recommendation of its Audit Committee.
Andersens report on Advanced Energys 2001 financial statements was dated
February 28, 2002, in conjunction with the preparation of Advanced Energys
Annual Report on Form 10-K for the year ended December 31, 2001, which was
filed with the Securities and Exchange Commission (the Commission) on March
25, 2002.
The audit reports of Andersen on the consolidated financial statements of
Advanced Energy and its wholly-owned and controlled subsidiaries as of and for
the fiscal years ended December 31, 2001 and 2000, did not contain any adverse
opinion or disclaimer of opinion, nor were they qualified or modified as to
uncertainty, audit scope, or accounting principles. During Advanced Energys
two most recent fiscal years ended December 31, 2001, and the subsequent
interim period through the date of this Report, there were no disagreements
between Advanced Energy and Andersen on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure,
which disagreements, if not resolved to Andersens satisfaction, would have
caused Andersen to make reference to the subject matter of the disagreement in
connection with its reports.
None of the reportable events described under Item 304(a)(1)(v) of
Regulation S-K occurred within Advanced Energys two most recent fiscal years
and the subsequent interim period through the date of this Report.
Advanced Energy provided Andersen with a copy of the foregoing
disclosures. Andersen has informed Advanced Energy that due to its current
difficulties, it will be unable to respond to Advanced Energys filing stating
its agreement or disagreement with such statements.
During Advanced Energys two most recent fiscal years ended December 31,
2001, and the subsequent interim period through the date of this Report,
Advanced Energy did not consult with KPMG regarding any of the matters or
events set forth in Item 304(a)(2)(i) and (ii) of Regulation S-K.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
Exhibit No.
Description
99.1
Press release issued by Advanced Energy, dated July 15, 2002
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: July 16, 2002
Advanced Energy Industries, Inc.
By:
Name:
Title:
/s/ Michael El-Hillow
Michael El-Hillow
Senior Vice President and Chief
Financial Officer (Principal
Financial Officer)
INDEX TO EXHIBITS
Exhibit No.
Description
99.1
Press release issued by Advanced Energy, dated July 15, 2002
EXHIBIT 99.1
CONTACTS:
MIKE EL-HILLOW CATHY KAWAKAMI
SENIOR VP, CHIEF FINANCIAL OFFICER DIRECTOR OF INVESTOR RELATIONS
ADVANCED ENERGY INDUSTRIES, INC. ADVANCED ENERGY INDUSTRIES, INC.
970-407-6570 970-407-6732
MIKE.EL-HILLOW@AEI.COM CATHY.KAWAKAMI@AEI.COM
FOR IMMEDIATE RELEASE
ADVANCED ENERGY ANNOUNCES APPOINTMENT OF KPMG LLP
AS ITS INDEPENDENT PUBLIC ACCOUNTANTS
FORT COLLINS, Colo., July 15, 2002 -- Advanced Energy Industries, Inc (Nasdaq:
AEIS) today announced that its board of directors has retained KPMG LLP as the
company's independent public accountants, beginning with the review of second
quarter 2002 financials.
Previously, Advanced Energy's independent auditor was Arthur Andersen LLP.
ABOUT ADVANCED ENERGY
Advanced Energy is a global leader in the development, marketing and support of components and sub-systems critical to plasma-based manufacturing processes used in the production of semiconductors, flat panel displays, data storage products, compact discs, digital video discs, architectural glass, and other applications that require precise thin-film processes.
AE offers a comprehensive line of technology solutions in power, flow and thermal management, plasma and ion beam sources, and integrated process monitoring and control to original equipment manufacturers (OEMs) and end-users around the world.
AE operates in regional centers in North America, Asia and Europe, and offers global sales and support through direct offices, representatives and distributors. Founded in 1981, AE is a publicly-held company traded on Nasdaq National Market under the symbol AEIS. For more information, please visit our corporate website: www.advanced-energy.com.