Power-One Reports 6.2% Increase in Revenue

Power-One Inc. in Camarillo said revenues for the three months ended June 28 increased 6.2% to $24 million, compared with $22.6 million for the comparable period in 1997.

Net income increased to $3 million or 18 cents per diluted common share, compared with $1.1 million or 14 cents per share for the comparable period last year.

Chief Executive Officer Steve Goldman said the company expects its performance in the second half of the year to be below the first half.

“This temporary slowdown is due to the current softening trend in the electronics industry . . . as well as domestic inventory corrections,” he said. But, he added, “this temporary slowdown has provided additional opportunities for acquisitions. We are continuing to aggressively pursue several potential acquisitions to take advantage of the general decline in market valuations resulting from the current slump.”

Power-One manufactures power supplies for electronic equipment manufacturers in the United States.