Once these most recent quarterly results are finalized, they will be run through TheStreet.com Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit TheStreet.com Ratings Screener. Advanced Energy Industries ( AEIS) reported on April 23, 2009 that it swung to a loss during Q1 FY09, hurt by restructuring charges, goodwill impairment charges and lower revenue. Net loss stood at $79.76 million or $1.90 per share compared to a profit of $5.97 million or $0.13 per share in the comparable quarter last year. The latest consensus estimate was a loss of $0.45 per share. Total sales plummeted 63.3% year-over-year to $32.63 million from $88.89 million a year ago, as the global financial crisis reduced consumer and commercial spending, resulting in limited capital expansion. Furthermore, revenue from the non-semiconductor markets, which accounted for 47.0% of the total sales, plunged 53.0% sequentially to $15.30 million, hurt by maximum decline in the solar market. Revenue from the semiconductor capital equipment market, which accounted for 29.4% of the total sales, declined 57.5% sequentially to $9.60 million, hurt by order declines. The book-to-bill ratio was at 0.87:1.00 with a backlog of $24.40 million, down from last year's backlog of $28.60 million. Approximately 60.0% or $14.70 million of this backlog is shippable in Q2 FY09. Effective April 1, 2009, Advanced Energy reduced its global workforce by approximately 330 people, or 22.0% of total headcount, across all functional areas and geographies and lowered the compensation of management and executive officers by an additional 5.0%, thereby totaling 15.0% overall. Effective April 3, 2009, Yuval Wasserman took charge as the company's Executive Vice President and Chief Operating Officer. Looking forward, AEIS forecasts Q2 FY09 sales between $30.00 million and $36.00 million. In addition, it projected loss in the range of $0.41 per share to $0.34 per share. Also, it anticipates gross margins to be in the range of 15.30% to 21.40%.