Power-One Reports Rise in Revenues, Earnings

Power-One in Camarillo announced that revenues for the three months ended March 29 increased 49.7% to $26.4 million, compared with $17.6 million a year earlier.

Earnings increased to $3.1 million or 18 cents per diluted common share, compared with $1 million or 9 cents per diluted common share for the comparable prior year period.

Backlog on March 29 was $27.9 million, compared with $32.2 million on Dec. 29 and $24.9 million on March 30, 1997.

“The change in our backlog reflects the recent softening trend in the electronics industry as well as the effects of reduced demand by certain Power-One customers with end users in the Asian market,” said Steve Goldman, chief executive officer.

Power-One is concentrating sales efforts “on segments that not only offer higher margins, but are somewhat less cyclical and less vulnerable to international demand fluctuations,” Goldman said.

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