To download the latest issue
Jan 22nd, 2013
Power-One updates outlook for fourth quarter of 2012
Power-One expects revenue of $190 million to $195 million and a net loss for the quarter.
Power-One, Inc., a leading provider of renewable energy and energy-efficient power conversion and power management solutions, provided an updated outlook for its fourth quarter 2012 financial results. The Company expects to report fourth quarter revenue of $190 million to $195 million, which is below the previously estimated range of $210 million to $230 million. Softer than expected market conditions in the Renewable Energy business, primarily in Italy and Germany, driven by reduced feed-in tariffs and a difficult financing environment, led to lower sales in the quarter. As a result, the Company expects to report a net loss of $12 million to $15 million for the quarter due to lower than expected gross margins resulting from the revenue shortfall and new product ramp-up costs. Included in the expected results is a loss, net of tax, of approximately $6 million on foreign currency remeasurement due to the strengthening of the Euro versus the dollar late in the fourth quarter.
More POWER ELECTRONICS news