Exhibit 99.1

Financial News Release

ADVANCED ENERGY ANNOUNCES FOURTH QUARTER RESULTS

Fort Collins, Colo., January 30, 2012 – Advanced Energy Industries, Inc. (Nasdaq GM: AEIS) today announced financial results for the fourth quarter ended December 31, 2011. The company posted fourth quarter sales of $112.5 million compared to $148.7 million in the fourth quarter of 2010 and $128.5 million in the third quarter of 2011. Loss from continuing operations was $2.6 million or $0.06 per diluted share. On a non-GAAP basis, income generated from operations was 1.0% of sales, and earnings from our continuing operations on a per share basis was $0.01. The non-GAAP measures exclude the impact of the $4.2 million restructuring charge recorded in the fourth quarter. A reconciliation of non-GAAP income from operations and per share earnings is provided in the tables. We also generated $6.3 million in cash during the quarter before the share repurchase of $18 million.

“During the fourth quarter we made great strides executing on our strategic plan by consolidating facilities, redesigning incentive plans and repurchasing stock and we are well on our way to achieving our initial goals and exceeding our cost savings targets,” said Garry Rogerson, chief executive officer. “While market conditions remain uncertain in the near-term, our focus is centered on accomplishing the objectives we laid out at our analyst day to realign our cost structure, accelerate revenue growth and effectively utilize our cash. Once implemented, these actions should improve our profitability and deliver exceptional value to our shareholders.”

Thin Films Business Unit

Thin Films sales declined 29.1% to $54.4 million in the fourth quarter of 2011 from $76.8 million in the third quarter of 2011, primarily due to continued weak market conditions in solar panel and flat panel displays. In general, capital spending across all of our thin films end markets weakened this quarter. Year-over-year, Thin Films sales declined from $97.0 million in the fourth quarter of 2010.

Solar Energy Business Unit

Solar Energy sales were $58.1 million in the quarter, an increase of 12.3% from $51.7 million in both the third quarter of 2011 and the fourth quarter of 2010. The strongest area of growth continues to be in the utility-scale market where our Solaron inverters have been selected on some of the largest projects in North America.

Income/Loss from Continuing Operations

Loss from continuing operations for the fourth quarter was $2.6 million or $0.06 per diluted share, compared to income from continuing operations of $19.7 million or $0.45 per diluted share in the same period last year and income from continuing operations of $7.2 million or $0.16 in the third quarter of 2011. On a non-GAAP basis, excluding the impact of the restructuring charge, continuing operations generated income for the fourth quarter of 2011 of $0.5 million or per share earnings of $0.01.

Restructuring Charge

During the fourth quarter, the company incurred $4.2 million in charges related to the restructuring plan that was announced on September 28, 2011. Under the first phase of the plan, the company consolidated certain facilities and began aligning its engineering resources with the geographic footprint of its customer base by localizing R&D within the major geographies it serves. During the quarter, the company also started the transfer of manufacturing of certain solar inverter subcomponents to its Shenzhen, China factory. These and other efforts have resulted in savings from the first phase of the restructuring of approximately $12 million annually.

The second phase is expected to be implemented over the next 9 to 15 months as the company further reduces its cost structure, closes facilities, and relocates other functions to different regions worldwide. As a result, the company anticipates further charges in the amount of $4 to $8 million, principally for space consolidation, and another $1 million in additional severance costs over this timeframe. Once complete, the two phases of the restructuring plan, along with other cost savings initiatives and margin improvements, are expected to deliver annual savings higher than the originally anticipated $16 to $20 million.

First Quarter 2012 Guidance

The Company anticipates first quarter 2012 results from continuing operations to be within the following ranges:

Fourth Quarter 2011 Conference Call

Management will host a conference call tomorrow, Tuesday, January 31, 2012, at 8:30 a.m. Eastern Standard Time to discuss Advanced Energy’s financial results. Domestic callers may access this conference call by dialing 888-713-4215. International callers may access the call by dialing 617-213-4867. Participants will need to provide conference pass code 60038080. For a replay of this teleconference, please call 888-286-8010 or 617-801-6888, and enter the pass code 45077705. The replay will be available for two weeks following the conference call. A webcast will also be available on the Investor Relations web page at http://ir.advanced-energy.com.

About Advanced Energy

Advanced Energy is a global leader in innovative power and control technologies for high-growth, thin-films manufacturing and solar-power generation. Founded in 1981, Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.

This release includes GAAP and non-GAAP operating income and per share earnings data. These non-GAAP measures are not in accordance with, or an alternative for, similar measures calculated under generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Advanced Energy believes that these non-GAAP measures provide useful information to management and investors regarding financial and business trends relating to its financial condition and results of operations. Additionally, the Company believes that these non-GAAP measures, in combination with its financial results calculated in accordance with GAAP, provides investors with additional perspective. The Company further believes that the items excluded from certain non-GAAP measures do not accurately reflect the underlying performance of its continuing operations for the period in which they are incurred, even though some of these excluded items may be incurred and reflected in the Company’s GAAP financial results in the foreseeable future. The use of non-GAAP measures has limitations in that they do not reflect all of the amounts associated with its results of operations as determined in accordance with GAAP and these measures should only be used to evaluate the company’s results of operations in conjunction with the corresponding GAAP measures.

For additional information on the items excluded from one or more of its non-GAAP financial measures, refer to the Form 8-K regarding this release furnished today to the Securities and Exchange Commission.

Forward-Looking Language

The Company’s expectations with respect to guidance to financial results for the first quarter ending March 31, 2012, anticipated cost savings and restructuring activities and other statements that are not historical information are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to: the effects of global macroeconomic conditions upon demand for our products, the volatility and cyclicality of the industries the company serves, particularly the semiconductor industry, the continuation of RPS (renewable portfolio standards), the timing and availability of incentives and grant programs in North America and Europe related to the renewable energy market, renewable energy project delays resulting from solar panel price declines and increased competition in the solar inverter equipment market, the timing of orders received from customers, the Company’s ability to realize benefits from cost improvement efforts and any restructuring plans, the ability to source materials and manufacture products, and unanticipated changes to management’s estimates, reserves or allowances. These and other risks are described in Advanced Energy’s Form 10-K, Forms 10-Q and other reports and statements filed with the Securities and Exchange Commission. These reports and statements are available on the SEC’s website at www.sec.gov. Copies may also be obtained from Advanced Energy’s website at www.advancedenergy.com or by contacting Advanced Energy’s investor relations at 970-407-6555. Forward-looking statements are made and based on information available to the company on the date of this press release. The company assumes no obligation to update the information in this press release.

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