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Thursday, Apr 25, 2024

Magnetek Income Down

Power control producer Magnetek, Inc. reported an income loss for its fiscal year third quarter that ended April 2. The Chatsworth company said its loss was $4.4 million or $0.15 per diluted compared with a loss of $25 million or $0.88 per share for the same period in 2005. Overall revenues were up just slightly to $57.2 million compared to the revenues of $50 million for the third quarter in 2005. Third quarter sales of power-electronic products increased sequentially from the second quarter due to a strengthening in embedded power supplies markets such as information technology, communications and consumer appliances. Seasonal factors contributed to a decline in sales of power-control products in the third quarter. Those products made up 42 percent of Magnetek’s revenues.

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