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Thursday, Mar 28, 2024

Power-One Narrows Loss

Power-One Inc. narrowed its net loss for the second quarter, the company said. The Camarillo-based power conversion and management supplier, however, anticipates a full year net loss in the range of $12 million to $20 million. For the second quarter ending June 29, the company reported a net loss of $3.9 million, or $0.04 per diluted share, on revenues of $149.3 million. For the same period a year ago, the company had a net loss of $11 million, or $0.13 per diluted share, on revenues of $123.8 million. Revenue and earnings for the quarter were driven primarily by demand across the core markets, with particular strength in the renewable energy market. Shares in Power-One closed down at $2.05.

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