Top Clean Energy Pick; what you Should know about Power-One

December 1, 2010, 11:31 pm

Power-One Inc. (NASDAQ: PWER) designs and manufactures energy-efficient power conversion and power management solutions for renewable/alternative energy, routers, data storage, servers and data centers, wireless communications, optical networking, semiconductor test equipment, industrial markets and custom applications.

The company today announced the launch of a newly designed central product targeting the emerging Asian inverter market. Power-one’s new 250kW and 500kW utility grade central inverters have a high efficiency of 98.3%; electrolytic capacitor free, leading to longer MTBF; compact size and weight; touch screen display; and 1000 Voc rating.

The company recently appointed Dr. Richard Swanson to its board of directors, effective October 29, 2010. Dr. Swanson’s experience includes the founder and former president and CTO at SunPower Corp. and currently holds the position of president emeritus at the company.

The company announced its third-quarter results in October, with net revenues at $314 million, an increase of 214% from the previous year. The net income reported was $63 million or $0.40 per diluted share as compared to a net loss of $3 million, or $0.03 per share for the comparable period previous year.

The company’s third-quarter performance was driven by sales from its renewable energy SBU, coupled with revenue growth in the power SBU leading to expanded margins and the fourth straight quarter of net profit. Power-One’s expanded consolidated operating margin to 32% this quarter as compared to just over breakeven in the comparable period previous year. The operating income for the third quarter 2010 was $101 million, which included a favorable product mix, increased volume and manufacturing efficiencies contributed to the expansion.

Power-One forecasts revenue for the fourth quarter of 2010 in the range of $340 million to $360 million. This would be driven by the continued momentum of inverter sales and the turnaround of the Power Solutions SBU.

Power-One stock has a 52-week range of $3.02-$13.04. Year-to-date, the stock is up 140%.

Tagged as: PWER

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