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Thursday, Mar 28, 2024

Delays In Orders Leads To Downgrade in Guidance

An inability to deliver orders on time led power conversion product manufacturer Power-One Inc. to downgrade its expectations for the first quarter. The Camarillo-based company updated its guidance for revenues to be in the range of $116 to $118 million compared with the prior guidance of $130 million to $135 million. The company expects a net loss in the range of $0.14 to $0.16 per share versus its previous guidance of net loss of $0.04 to $0.07 per share. Manufacturing inefficiencies and supply chain problems contributed to the inability of Power-One to deliver product on time. The company is implementing plans to address supply chain issues, accelerate transfer of manufacturing to China, and new sales and operations planning processes. Shares of Power-One closed up at $3.32.

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