Advanced Energy Industries, Inc. (Nasdaq: AEIS) today announced that its Board of Directors has authorized the company to repurchase up to $25 million of its common stock over the next 12 months. Purchases under the program may be made from time-to-time in the public or private markets, through block trades, Rule 10b5-1 trading plans or other available means and may include the use of derivative contracts and structured share repurchase agreements. There is no minimum number of shares to be repurchased under the program, and it may be suspended or discontinued at any time. As of September 30, 2012, the company had approximately $174 million in cash, cash equivalents and marketable securities and approximately 38 million common shares outstanding.