Power-One Reports Profit Tripled in 3rd Quarter

Power-One Inc. in Camarillo, a maker of power supplies for electronic equipment, said third-quarter profit more than tripled on sales to telecommunications companies and Internet service providers.

Cash earnings, or earnings before acquisition-related charges and other items, rose to $18.7 million or 24 cents a share, from $6.21 million or 10 cents a year earlier. It was expected to earn 23 cents, the average estimate of six analysts polled by First Call/Thomson Financial.

After the one-time charges, net income was $16 million, or 20 cents a share, compared with $5.2 million or 9 cents last year.

Chief Executive Steve Goldman said Power-One offered more products to communications and Internet service providers in the third quarter, boosting sales to that market to $107 million from $42 million a year earlier.