Power Product

New Compact, 250W Open Frame Power Supplies Launched for Medical Applications

Camarillo, CA – March 21, 2012 Power-One, Inc. (NASDAQ: PWER), a leading global manufacturer of renewable energy and energy-efficient power conversion and management solutions, announces the availability of its newest high-efficiency, open frame 250W AC-DC power supplies for the medical industry, the MBC250 Series.

The IEC60601 3rd Edition approved MBC250 Series has a compact 3”x5” package, and provides 250W of output power with up to 90% efficiency at 230VAC.  With approval to Means of Patient Protection (MOPP), the MBC250 is suitable for use in body floating (BF) applications wherein equipment may come in direct contact with the patient, such as blood pressure monitors or ultrasound equipment. While ideally suited to Medical, the MBC250 can also be utilized in other high isolation or low leakage applications.

This new series of Medical power supply utilizes a universal 90 to 264VAC input range with active power factor correction. The power supplies have a low 1U height and provide a single 12V, 24V or 48V output.

“Our MBC250 power supplies provide the same power densities and high efficiencies that Power-One is known for, in versions that are approved for medical use,” Ed Carter, General Manager of Power-One’s Industrial and Transportation group noted recently.

Samples are available now. Visit the Open Frame section of the Power-One website for comprehensive data sheets and to learn more:

http://www.power-one.com/power-solutions/products/embedded-power/ac-dc/open-frame

Please contact Power-One for pricing and availability at +1-978-728-5974 (in North and South America), +44-1903-823323 (in EMEA) and +86-755-29885888 (in APAC), or visit http://www.power-one.com/corporate/contact/power for additional contacts.

Power-One designs and manufactures energy-efficient power conversion and power management solutions for renewable energy, routers, data storage and servers, wireless communications, optical networking, medical diagnostics, railway controls, semiconductor test equipment and custom applications. Power-One, with headquarters in Camarillo, CA, has global sales offices, manufacturing and R&D operations in Asia, Europe and the USA.  Please visit www.power-one.com for more information.

Power-One products are not designed, intended for use in, or authorized for use as critical components in life support systems, equipment used in hazardous environments, or nuclear control systems without the express written consent of the respective divisional president of Power-One, Inc.  The appearance of products, including safety agency certifications pictured on labels, may change depending on the date manufactured. Specifications are subject to change without notice.

New Open Frame, High-Efficiency, 400W Power Supplies Launched for Telecom, Datacom and Industrial Applications

Camarillo, CA – March 1, 2012 Power-One, Inc. (NASDAQ: PWER), a leading global manufacturer of renewable energy and energy-efficient power conversion and management solutions, announces the availability of its newest high-efficiency, open frame 400W AC-DC power supplies, the ABC400 Series.

The ABC400 Series utilizes a universal 90 to 264VAC input range with active power factor correction. The power supplies have a low 1U height and provide a single 12V, 24V or 48V output. The ABC400 provides up to 400W of output power and 16W/in³ of power density in a small 3”x5” footprint.  The series ensures minimal power losses in end-use equipment, thereby facilitating lower operating costs and easier thermal management. They are ideal for telecom, datacom, industrial equipment and other applications.

“The ABC400 Series continues Power-One’s long tradition of highly-efficient, small-footprint open frame power supplies,” Ed Carter, General Manager of Power-One’s Industrial and Transportation group noted recently.  “The ABC400 is among the most efficient in power supplies for its respective power rating and package size.”

Samples are available now. Visit the Open Frame section of the Power-One website for comprehensive data sheets and to learn more:

http://www.power-one.com/power-solutions/products/embedded-power/ac-dc/open-frame

Please contact Power-One for pricing and availability at +1-978-728-5974 (in North and South America), +44-1903-823323 (in EMEA) and +86-755-29885888 (in APAC), or visit http://www.power-one.com/corporate/contact/power for additional contacts.

Power-One designs and manufactures energy-efficient power conversion and power management solutions for renewable energy, routers, data storage and servers, wireless communications, optical networking, medical diagnostics, railway controls, semiconductor test equipment and custom applications. Power-One, with headquarters in Camarillo, CA, has global sales offices, manufacturing and R&D operations in Asia, Europe and the USA.  Please visit www.power-one.com for more information.

Power-One products are not designed, intended for use in, or authorized for use as critical components in life support systems, equipment used in hazardous environments, or nuclear control systems without the express written consent of the respective divisional president of Power-One, Inc.  The appearance of products, including safety agency certifications pictured on labels, may change depending on the date manufactured. Specifications are subject to change without notice.

New Ultra-Compact, Open Frame 200W Power Supplies Launched for Telecom, Datacom and Industrial Applications

Camarillo, CA – February 16, 2012 Power-One, Inc. (NASDAQ: PWER), a leading global manufacturer of renewable energy and energy-efficient power conversion and management solutions, announces the availability of its newest high-efficiency, open frame 200W AC-DC power supplies, the ABC200 Series.

The ABC200 Series provides 200W of power in an ultra-compact 2”x4” footprint with a single 12V, 24V, or 48V output. The ABC200 utilizes a universal 90 to 264VAC input range with active power factor correction, delivering over 90% efficiency at 230VAC. The series ensures minimal power losses in end-use equipment, thereby facilitating lower operating costs and easier thermal management. The ABC200 is ideal for industrial equipment, high-end AV, telecom, datacom, and other applications.

“The 200W power level of the ABC200 in a 2”x4” package is an industry achievement. Our customers will no longer have to compromise on space when their power needs inevitably grow,” stated Ed Carter, General Manager of Power-One’s Industrial and Transportation group.

Samples are available now. Visit the Open Frame section of the Power-One website for comprehensive data sheets and to learn more:
http://www.power-one.com/power-solutions/products/embedded-power/ac-dc/open-frame

Please contact Power-One for pricing and availability at +1-978-728-5974 (in the North and South America), +44-1903-823323 (in EMEA) and +86-755-29885888 (in APAC), or visit http://www.power-one.com/corporate/contact/power for additional contacts.

Power-One designs and manufactures energy-efficient power conversion and power management solutions for renewable energy, routers, data storage and servers, wireless communications, optical networking, medical diagnostics, railway controls, semiconductor test equipment and custom applications. Power-One, with headquarters in Camarillo, CA, has global sales offices, manufacturing and R&D operations in Asia, Europe and the USA.  Please visit www.power-one.com for more information.

Power-One products are not designed, intended for use in, or authorized for use as critical components in life support systems, equipment used in hazardous environments, or nuclear control systems without the express written consent of the respective divisional president of Power-One, Inc.  The appearance of products, including safety agency certifications pictured on labels, may change depending on the date manufactured. Specifications are subject to change without notice.

Power Conversion Industry To Appeal Synqor Patent Trial Judgment

MARSHALL, TX (August 24, 2011) – Bel Fuse, Lineage Power, and Power-One today announced their intent to appeal the judgment in the SynQor v. Artesyn patent infringement case to the United States Court of Appeals for the Federal Circuit.  Artesyn Technologies, Inc., Astec America, Inc., Delta Electronics, Inc. and Delta Products Corporation, Murata Manufacturing Co., Murata Electronics North America, and Murata Power Solutions are expected to appeal the judgment as well.  The Court in the Eastern District of Texas recently returned a final judgment in the SynQor v. Artesyn suit, which SynQor brought against the AC-DC and DC-DC power conversion industry. 

In December of 2010, a jury found that certain products of the industry defendants directly and/or indirectly infringed five of SynQor’s patents; however, all five patents are currently involved in reexamination proceedings before the U.S. Patent and Trademark Office (USPTO).  In the reexaminations, all of the patent claims asserted at trial stand rejected by the USPTO as being unpatentable.  The defendants will continue to pursue all avenues of recourse in this matter. 

About Bel Fuse Inc.

Bel Fuse Inc. (NASDAQ: BELFA & BELFB) (www.belfuse.com) and its divisions are primarily engaged in the design, manufacture, and sale of products used in networking, telecommunications, high-speed data transmission, commercial aerospace, military, transportation, and consumer electronics.  Products include magnetics (discrete components, power transformers and MagJack® connectors with integrated magnetics), modules (DC-DC converters, integrated analog front-end modules and custom designs), circuit protection (miniature, micro and surface mount fuses) and interconnect devices (micro, circular and filtered D-Sub connectors, passive jacks, plugs and high-speed cable assemblies). Bel Fuse operates facilities around the world.

About Lineage Power

Lineage Power traces our nearly 100 year heritage of innovation to Bell Labs.  We deliver reliable and intelligent power conversion solutions for cloud computing and mobile internet infrastructure with energy-efficient AC-DC power supplies, DC-DC circuit board mounted power modules, telecom energy systems, DC datacenters, and custom power products backed by local field expertise in 25+ locations worldwide. Designed for decades of non-stop operation, the high-availability Total Efficiency™ architecture DC power conversion solutions enable voice, video and data communications while assuring investment protection, total system efficiency, and significantly reduced total cost of ownership.  Our customers include leading U.S. telecom service providers, such as AT&T, Verizon Wireless and Verizon, and leading global OEMs, such as Alcatel-Lucent, Cisco, Ericsson, Hewlett Packard, Huawei, Juniper Networks and Oracle.  More information about Lineage hardware, software, services and training is available at www.lineagepower.com.

About Power-One

Power-One is a leading provider of renewable energy and energy-efficient power conversion and power management solutions and is the world’s second largest designer and manufacturer of photovoltaic inverters.  Its renewable energy products enable the industry’s highest yielding conversion of power from solar arrays for use by utilities, commercial enterprises and homes.  Power-One has a 40 year history as the leader in high efficiency and high density power supply products for a variety of industries including Renewable Energy, Servers Storage & Networking, Industrial and Network Power Systems.  The company is headquartered in Camarillo, CA and has global sales offices, manufacturing, and R&D operations in Asia, Europe, and the Americas. Power-One is traded on NASDAQ under the ticker symbol PWER. For more information, please visit www.Power-One.com.

Power-One Announces Second Quarter 2011 Results

  • Quarterly revenue grows 21 percent year-over-year to $260 million
  • Second quarter diluted EPS reaches $0.21 on operating income of $53 million
  • Customer wins and share gains in the United States, China and India spur renewable energy sales

CAMARILLO, Calif., July 28, 2011 (GLOBE NEWSWIRE) -- Power-One, Inc. (Nasdaq:PWER), a leading provider of renewable energy and energy-efficient power conversion and power management solutions, today announced financial results for the second quarter 2011. For the quarter ended July 3, 2011, Power-One recorded net sales of $260 million, an increase of 21 percent from the second quarter 2010. Net income attributable to common stockholders for the second quarter was $31 million, or $0.21 per diluted share, compared to $24 million, or $0.17 per share for the same period last year.

"Power-One has made significant progress expanding into the fast growing solar markets in the United States, China and India, resulting in important customer wins and increased market share," said Richard Thompson, Chief Executive Officer of Power-One. "Power-One continued to perform well in an uncertain marketplace, highlighting the strength of our products and global business model."

"For the second half of 2011, we anticipate the solar market will begin to gain momentum in Europe and be bolstered by gains in new geographies, while the Power Solutions business continues to show improvements," continued Mr. Thompson.

Renewable Energy Solutions

During the second quarter of 2011, Renewable Energy Solutions posted a 27 percent revenue increase versus the same period last year, as Power-One showed continued momentum in the photovoltaic (PV) inverter market. The Company gained new customers in the United States, China and India which contributed to the increase in Renewable Energy revenue in North American and Asia Pacific, as these regions increased from 4% of total revenue last quarter to 18% in the second quarter of 2011. 

Inverter and related products generated sales of $180 million for the second quarter 2011. During the quarter, Power-One shipped 718 MW of inverters, bringing the 2011 year-to-date total to 1.3 gigawatts, versus 800 megawatts during the same period in 2010.

Power Solutions

Power Solutions increased sales by 11 percent year-over-year, with revenue of $80 million in the second quarter 2011 versus $72 million in the same period of 2010.  During the second quarter, Power Solutions' profitable performance was driven by continued operating efficiencies, including better absorption and reduced delinquencies. The unit continues to focus on reducing operating expenses and will continue to develop and implement plans to achieve its objectives.

Business Outlook

Power-One continues to expand its reach into new customers and geographies. For the third quarter of 2011, Power-One forecasts revenue of $265 million to $280 million, indicating increasing revenue versus the second quarter of 2011. Third quarter revenue is expected to be positively impacted by increased Renewable Energy sales to regions such as North America and Asia, as well as a stabilizing to improving market in the European region. For the year, Power-One anticipates generating revenue between $1.05 billion and $1.15 billion.

Earnings Conference Call

Power-One will discuss its 2011 second quarter results today at 2:00 p.m. Pacific Time. The call will be available both via the telephone at (877) 390-5535 or (631) 291-4579, conference ID #82102371, or over the Internet through the Power-One investor relations Web site at http://investor.power-one.com. To listen to the call, please log-in at least 10 minutes early to register, download, and install any necessary audio software. For those who cannot listen to the live broadcast, the webcast will be available on the investor relations section of the Power-One's web site at http://investor.power-one.com throughout the current quarter. 

About Power-One

Power-One is a leading provider of renewable energy and energy-efficient power conversion and power management solutions and is the world's second largest designer and manufacturer of photovoltaic inverters. Its renewable energy products enable the industry's highest yielding conversion of power from solar arrays for use by utilities, commercial enterprises and homes. Power-One has a 40 year history as the leader in high efficiency and high density power supply products for a variety of industries including Renewable Energy, Servers Storage & Networking, Industrial and Network Power Systems. The company is headquartered in Camarillo, CA and has global sales offices, manufacturing, and R&D operations in Asia, Europe, and the Americas. Power-One is traded on NASDAQ under the ticker symbol PWER. For more information, please visit www.Power-One.com.

The Power-One, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7338

Safe Harbor Statement

Statements made in this press release which state the Company's or management's intentions, beliefs, expectations or predictions for the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and may include statements regarding anticipated future productivity. It is important to note that future performance and actual results could differ materially from those discussed in or underlying such forward-looking statements as a result of risks and uncertainties that cannot be predicted or quantified and that are beyond the Company's control. Important factors that could cause actual results to differ materially include, but are not limited to: economic conditions in general and business conditions in the power supplies and renewable energy markets; foreign exchange rates; the Company's ability to improve its operational and supply chain efficiencies; competitive factors such as pricing and technology; the timing and results achieved in completing product manufacturing transitions to Company facilities in China or other low-cost locations;  the threat of a prolonged economic slowdown or a lengthy or severe recession; continued volatility of the financial markets, including fluctuations in interest rates and trading prices of the Company's equity securities; the results of pending legal proceedings; the Company's ability to secure market share in higher margin, high-growth markets; the market growth of product sectors targeted by the Company as sectors of focus; and the Company's ability to increase working capital. Additional information concerning factors that could cause actual results to differ materially from expectations expressed in this press release are described in the Company's reports filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934 from time to time, which are also available through the Company's Website at http://www.power-one.com/ or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov/. Power-One undertakes no obligation to publicly update or revise any forward-looking statement.

 

POWER-ONE, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except per share data)
(UNAUDITED)
         
         
         
  Three Months Ended Six Months Ended
  July 3, July 4, July 3, July 4,
  2011 2010 2011 2010
         
RENEWABLE ENERGY SALES  $ 180,026  $ 142,276  $ 331,655  $ 224,366
POWER SALES  80,278  72,273  173,192  142,560
TOTAL SALES  260,304  214,549  504,847  366,926
COST OF GOODS SOLD  172,926  135,142  333,211  241,791
GROSS PROFIT   87,378  79,407  171,636  125,135
         
GENERAL AND ADMINISTRATIVE        
Selling, general and administrative  20,895  18,225  41,980  33,199
Research and development  12,086  8,568  23,382  16,946
Litigation Charges  638  --   873  -- 
Amortization of intangibles  468  356  910  733
Restructuring costs and asset impairment  --   2,923  --   3,852
Total expenses  34,087  30,072  67,145  54,730
         
INCOME FROM OPERATIONS  53,291  49,335  104,491  70,405
         
INTEREST AND OTHER INCOME (EXPENSE):        
Interest income  709  26  1,192  26
Interest expense  (1,631)  (2,016)  (3,018)  (4,035)
Other income (expense), net  (4,496)  722  (6,709)  (4,136)
Total interest and other income (expense)  (5,418)  (1,268)  (8,535)  (8,145)
         
INCOME BEFORE INCOME TAXES  47,873  48,067  95,956  62,260
         
PROVISION FOR INCOME TAXES  16,601  23,258  34,052  32,958
EQUITY IN EARNINGS FROM JOINT VENTURE  413  353  595  461
NET INCOME   $ 31,685  $ 25,162  $ 62,499  $ 29,763
         
PREFERRED STOCK DIVIDEND AND ACCRETION  870  855  1,736  1,706
         
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS  $ 30,815  $ 24,307  $ 60,763  $ 28,057
         
BASIC INCOME PER SHARE  $ 0.26  $ 0.23  $ 0.51  $ 0.28
DILUTED INCOME PER SHARE  $ 0.21  $ 0.17  $ 0.41  $ 0.21
         
BASIC WEIGHTED AVERAGE SHARES OUTSTANDING  103,636  88,453  103,713  88,377
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING  140,283  142,278  140,602  140,955
 
 
POWER-ONE, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands)
(UNAUDITED)
     
     
     
  July 3, January 2,
  2011 2011
     
ASSETS    
     
CURRENT ASSETS:    
Cash and cash equivalents  $ 142,715  $ 227,907
Accounts receivable:    
Trade (net of allowance)  238,420  262,546
Other  6,061  7,980
Inventories  177,345  152,286
Prepaid expenses and other current assets  21,829  21,671
     
 Total current assets  586,370  672,390
     
PROPERTY AND EQUIPMENT, net  79,729  63,325
INTANGIBLE ASSETS, net  18,816  18,802
OTHER ASSETS  8,494  7,295
     
TOTAL ASSETS  $ 693,409  $ 761,812
     
LIABILITIES, PREFERRED STOCK AND STOCKHOLDERS' EQUITY    
     
CURRENT LIABILITIES:    
Accounts payable  $ 143,856  $ 213,096
Long-term debt, current portion  --   103
Income Tax Payable  6,340  103,739
Other accrued expenses and current liabilities  63,537  67,888
     
Total current liabilities  213,733  384,826
     
LONG-TERM DEBT, less current portion  35,986  35,911
OTHER LONG-TERM LIABILITIES  53,327  39,445
     
REDEEMABLE CONVERTIBLE PREFERRED STOCK  20,153  19,597
     
STOCKHOLDERS' EQUITY:    
Common stock  104  104
Additional paid-in capital  627,951  629,687
Accumulated other comprehensive income  68,834  41,420
Accumulated deficit  (326,679)  (389,178)
     
Total stockholders' equity  370,210  282,033
     
TOTAL LIABILITIES, PREFERRED STOCK AND STOCKHOLDERS' EQUITY  $ 693,409  $ 761,812

 

CONTACT: Investor Contact:

         Power-One, Inc.

         Kevin Trosian

         Vice President, Finance & Investor Relations

         Investor.Relations@Power-One.com

         (805) 383-5888

Power-One, Inc. Announces Digital Power Management Patent License with ZMDI

Power-One, Inc. Announces Digital Power Management Patent License with ZMDI

Camarillo, CA and Dresden, Germany – June 14, 2011 -- Power-One, Inc. (NASDAQ:PWER), a leading global manufacturer of renewable energy and energy-efficient power conversion and management solutions, and Zentrum Mikroelektronik Dresden AG (ZMDI), an innovative provider of energy efficient analog and mixed-signal semiconductor solutions, announced today that they entered into a non-exclusive, worldwide, Field of Use agreement for Digital Power Technology (DPT) patents from Power-One. 

Digital Power Technology drives increased system efficiency, improved design flexibility, faster time to market, decreased footprint size and lower system costs.  DPT also enables telemetry capability, providing access to critical information including current, temperature and voltage.  Telemetry allows the system to accurately monitor its power consumption and thermal performance, enabling designers to easily engineer key features such as system optimization, fault detection and predictive maintenance features into their end products.  

As applications in server, storage, networking and wireless infrastructure continue to drive board densities higher, requiring complex power architectures to drive FPGA’s, ASICS, DSP’s and other semiconductor devices, Digital Power Technology is an extremely attractive solution.

“Power-One is pleased to license its Digital Power Technology to ZMDI, an emerging market leader in the power-management IC industry, for incorporation into its products,” said Steve Hogge, President of Power Solutions at Power-One. “With the expanding number of leading power supply and semiconductor companies partnering with Power-One, we will continue to expand the market by providing energy-efficient technologies with increased functionality for our customers."

“Leveraging the DPT patents meshes with our goal of delivering energy-efficient solutions for point-of-load applications,” stated Bernhard Huber, ZMDI Business-Line Manager for Standard Components. “We can focus on developing chipsets that address all output loading conditions based on ZMDI’s performance goals.”

To learn more about Power-One products, please visit www.Power-One.com.

About Power-One

Power-One designs and manufactures energy-efficient power conversion and power management solutions for alternative/renewable energy, routers, data storage and servers, wireless communications, optical networking, semiconductor test equipment, industrial markets and custom applications. Power-One, with headquarters in Camarillo, California, has global sales offices, manufacturing and R&D operations in Asia, Europe and the Americas. Power-One is a public company listed on NASDAQ under the ticker symbol PWER.  For more information about the Company, please visit www.power-one.com.

About ZMDI

Zentrum Mikroelektronik Dresden AG (ZMDI) is a semiconductor company focused on energy efficiency. The company is a leading supplier of innovative, highly precise, robust and cost-efficient analog and mixed-signal semiconductors which allow for a maximum of energy efficiency and environmental protection in the automotive, mobile medical, industrial automation, and consumer markets.  The company designs and markets application-specific standard products (ASSPs) and application-specific integrated circuits (ASICs) which are known for their robust, cost-effective performance in demanding environments characterized by high temperature, high voltage and the need for ultra-low power.

Headquartered in Dresden, Germany, ZMDI has 280 employees worldwide and serves customers from its offices in Dresden, Stuttgart, Germany; Milan, Italy; Pocatello, ID, Melville, NY, USA; Tokyo, Japan; Seoul, Korea and Taipei, Taiwan. ZMDI has design centers in Dresden, Stuttgart and Munich, Germany; Varna, Bulgaria and Madison, Wisconsin. See more at www.zmdi.com.

Contacts:

For Sales or Product Inquiries:
Power-One, Inc.
Rob Russell, 978-273-3187
Vice President Marketing & Product Management
robert.russell@power-one.com 
For Investors:
Power-One, Inc.
Kevin Trosian, 805-987-8741
Vice President, Finance & Investor Relations

Innovative New i-PWER™ Low Profile Modular Power Supply Family Launched for Industrial and Communication Markets

Camarillo, CA – May 23, 2011 Power-One, Inc. (NASDAQ: PWER), a leading global manufacturer of renewable energy and energy-efficient power conversion and management solutions, announces the availability of its new i-PWER™ Low Profile Modular (LPM) AC-DC power supply family.

This robust and flexible series offers up to 1500W of power in the form of a six-slot chassis (LPM615 model) or up to 900W of power in a four-slot chassis (LPM409 model).  Additional features include: a universal 85-264VAC input range with Power Factor Correction (PFC), one to six fully-isolated outputs depending on model, a low 1U height (1.6”/40mm) and zero-load operation.

The four available output modules can easily be fitted into the four or six-slot chassis, providing customers with their exact voltage and current requirements, thus ensuring a custom solution without the development costs and a rapid, reduced time to market. 

The i-PWER LPM Series also features the highest power density on the market today – at 17.6W/in3, its typical power density is 20% higher than other modular AC-DC power supplies.  This class-leading power density, with its low 1U height, means the LPM offers more power in less space, so a customer’s product can be smaller, lighter and have less environmental impact.

“The LPM Series is the first of Power-One’s new lineup of industrial-focused power supplies, highlighting our ongoing commitment to providing innovative, market-leading technologies for the process control, military, medical, test and measurement markets,” Ed Carter, General Manager of Power-One’s Industrial and Transportation group noted recently.  “With a highly-flexible, rugged design and utilizing first-class materials, the LPM delivers the class-leading power density, increased cost savings and reduced time to market that equivalent modular power supplies cannot match.”

Each LPM output module is widely adjustable, offering continuous output coverage in ranges from 2V to 51V (2-5V, 5-15V, 15-32V and 15-51V respectively) – providing end-users with immense flexibility, while allowing distributors to stock fewer parts in greater depth.  Modules may be connected in series or parallel for higher voltages or higher currents, while the screw thread and terminal design of the LPM Series ensures the fit-and forget nature of this reliable product.

With its excellent flexibility and many features, coupled with high reliability, the i-PWER LPM Series is ideal for applications in Industrial and Scientific machines.

Visit the Modular section of the Power-One website for comprehensive LPM409 and LMP615 data sheets, as well as a configurator tool to aid in your specific power supply design needs at:

http://www.power-one.com/power-solutions/products/embedded-power/ac-dc/modular/series

Please contact Power-One for pricing and availability at +1-978-728-5974 (in the North and South America), +44-1903-823323 (in EMEA) and +86-755-29885888 (in APAC), or visit http://www.power-one.com/corporate/contact/power for additional contacts.

Power-One designs and manufactures energy-efficient power conversion and power management solutions for renewable energy, routers, data storage and servers, wireless communications, optical networking, medical diagnostics, railway controls, semiconductor test equipment and custom applications. Power-One, with headquarters in Camarillo, CA, has global sales offices, manufacturing and R&D operations in Asia, Europe, and the USA. Please visit www.power-one.com for more information.

Power-One products are not designed, intended for use in, or authorized for use as critical components in life support systems, equipment used in hazardous environments, or nuclear control systems without the express written consent of the respective divisional president of Power-One, Inc. The appearance of products, including safety agency certifications pictured on labels, may change depending on the date manufactured. Specifications are subject to change without notice.

Power-One Announces First Quarter 2011 Results

  • Quarterly revenue grows 61 percent year-over-year to $245 million
  • Operating income rises 143 percent year-over-year to $51 million
  • First quarter diluted EPS reaches $0.20 versus $0.04 in the year ago period

CAMARILLO, Calif., May 5, 2011 (GLOBE NEWSWIRE) -- Power-One, Inc. (Nasdaq:PWER), a leading provider of renewable energy and energy-efficient power conversion and power management solutions, today announced financial results for the first quarter 2011. For the quarter ended April 3, 2011, Power-One recorded net sales of $245 million, an increase of 61 percent from the first quarter 2010. Net income attributable to common stockholders for the first quarter was $30 million, or $0.20 per diluted share, compared to $4 million, or $0.04 per share for the same period last year.

"We are pleased with the performance of both our Power and Renewable Energy SBUs, despite difficult market conditions in the European solar market that affected Power-One's renewable energy sales in the first quarter," said Richard Thompson, Chief Executive Officer of Power-One.

"We anticipate the solar market will begin to gain momentum as Italy recently passed its legislation and the German market is showing signs of heightened activity," continued Mr. Thompson. "Further, we expect our focus on new geographies, particularly North America and Asia, will add revenue in renewables and lead to improving profitability in both our Power Solutions and Renewable Energy Solutions SBUs."

Renewable Energy Solutions

Renewable Energy Solutions posted a revenue increase of 85 percent versus last year as Power-One showed continued momentum in the photovoltaic (PV) inverter market. In the quarter, Power-One continued to build out its infrastructure by increasing U.S. production and gaining new customers in North America. Power-One also opened its China manufacturing facility to meet the burgeoning demand of the Chinese and Indian markets. Additionally, it began shipping utility-grade inverters for new industry leading customers in the U.S. and India.

Inverter and related products recorded sales of $152 million for the first quarter 2011. Renewable Energy Solutions contributed 62 percent of the company's revenue, versus 54 percent in the first quarter of 2010. During the quarter, Power-One shipped 609 MW of inverters.

Power Solutions

Power Solutions increased sales by 32 percent year-over-year, with revenue of $93 million in the first quarter 2011 versus $70 million in the same period of 2010. During the first quarter, Power Solutions' positive performance was driven by better product mix and higher overhead absorption. The unit continues to focus on reducing operating expenses and will continue to develop and implement plans to achieve its objectives.

Business Outlook

Power-One continues to build an impressive pipeline of new business in its new and existing geographies. For the second quarter of 2011, Power-One forecasts revenue of $250 million to $270 million, indicating increasing revenue versus the first quarter of 2011. Second quarter revenue is expected to be impacted by inverter inventory in the channel, albeit at lower levels than in the first quarter, and faster growth in the string inverter market in Europe versus ground mount systems. For the year, Power-One anticipates generating revenue between $1.1 billion and $1.25 billion.

Earnings Conference Call

Power-One will discuss its 2011 first quarter results today at 2:00 p.m. Pacific Time. The call will be available both via the telephone at (877) 390-5535 or (631) 291-4579, conference ID #59753165, or over the Internet through the Power-One investor relations Web site at http://investor.power-one.com. To listen to the call, please log-in at least 10 minutes early to register, download, and install any necessary audio software. For those who cannot listen to the live broadcast, the webcast will be available on the investor relations section of the Power-One's web site at http://investor.power-one.com throughout the current quarter. 

About Power-One

Power-One is the world's second largest designer and manufacturer of photovoltaic inverters. Its renewable energy products enable the industry's highest yielding conversion of power from both solar arrays and wind farms for use by utilities and homes. Power-One has a 40 year history as the leader in high efficiency and high density power supply products for a variety of industries including renewable energy, data storage and networking, industrial and network power systems. The company is headquartered in Camarillo, CA and has global sales offices, manufacturing, and R&D operations in Asia, Europe, and the Americas. Power-One is traded on NASDAQ under the ticker symbol PWER. For more information, please visit www.Power-One.com.

The Power-One, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7338

Safe Harbor Statement

Statements made in this press release which state the Company's or management's intentions, beliefs, expectations or predictions for the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and may include statements regarding anticipated future productivity. It is important to note that future performance and actual results could differ materially from those discussed in or underlying such forward-looking statements as a result of risks and uncertainties that cannot be predicted or quantified and that are beyond the Company's control. Important factors that could cause actual results to differ materially include, but are not limited to: economic conditions in general and business conditions in the power supplies and renewable energy markets; foreign exchange rates; the Company's ability to improve its operational and supply chain efficiencies; competitive factors such as pricing and technology; the timing and results achieved in completing product manufacturing transitions to Company facilities in China or other low-cost locations; the threat of a prolonged economic slowdown or a lengthy or severe recession; continued volatility of the financial markets, including fluctuations in interest rates and trading prices of the Company's equity securities; the results of pending legal proceedings; the Company's ability to secure market share in higher margin, high-growth markets; the market growth of product sectors targeted by the Company as sectors of focus; and the Company's ability to increase working capital. Additional information concerning factors that could cause actual results to differ materially from expectations expressed in this press release are described in the Company's reports filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934 from time to time, which are also available through the Company's Website at www.power-one.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. Power-One undertakes no obligation to publicly update or revise any forward-looking statement.

POWER-ONE, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except per share data)
(UNAUDITED)
     
  Three Months Ended
  April 3,
2011
April 4, 
2010
     
RENEWABLE ENERGY SALES  $ 151,629  $ 82,090
POWER SALES  92,914  70,287
TOTAL SALES  244,543  152,377
COST OF GOODS SOLD  160,285  106,649
GROSS PROFIT   84,258  45,728
     
GENERAL AND ADMINISTRATIVE    
Selling, general and administrative  21,085  14,974
Research and development  11,296  8,378
Litigation Charges  235  -- 
Amortization of intangibles  442  377
Restructuring costs and asset impairment  --   929
Total expenses  33,058  24,658
     
INCOME FROM OPERATIONS  51,200  21,070
     
INTEREST AND OTHER INCOME (EXPENSE):    
Interest income  483  -- 
Interest expense  (1,387)  (2,019)
Other income (expense), net  (2,213)  (4,858)
Total interest and other income (expense)  (3,117)  (6,877)
     
INCOME BEFORE INCOME TAXES  48,083  14,193
     
PROVISION FOR INCOME TAXES  17,451  9,700
EQUITY IN EARNINGS FROM JOINT VENTURE  182  108
NET INCOME  $ 30,814  $ 4,601
     
PREFERRED STOCK DIVIDEND AND ACCRETION  866  851
     
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS  $ 29,948  $ 3,750
     
BASIC INCOME PER SHARE  $ 0.25  $ 0.04
DILUTED INCOME PER SHARE  $ 0.20  $ 0.04
     
BASIC WEIGHTED AVERAGE SHARES OUTSTANDING  103,791  88,300
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING  140,920  95,562
 
POWER-ONE, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands)
(UNAUDITED)
     
  April 3,
2011
January 2,
2011
     
ASSETS    
     
CURRENT ASSETS:    
Cash and cash equivalents  $ 243,570  $ 227,907
Accounts receivable:    
 Trade (net of allowance)  227,827  262,546
 Other  6,179  7,980
Inventories  185,079  152,286
Prepaid expenses and other current assets  20,944  21,671
     
 Total current assets  683,599  672,390
     
PROPERTY AND EQUIPMENT, net  73,109  63,325
INTANGIBLE ASSETS, net  18,524  18,802
OTHER ASSETS  9,470  7,295
     
TOTAL ASSETS  $ 784,702  $ 761,812
     
LIABILITIES, PREFERRED STOCK AND STOCKHOLDERS' EQUITY    
     
CURRENT LIABILITIES:    
Accounts payable  $ 168,000  $ 213,096
Restructuring reserve  303  549
Long-term debt, current portion  110  103
Income Tax Payable  126,455  103,739
Other accrued expenses and current liabilities  59,848  67,339
     
 Total current liabilities  354,716  384,826
     
LONG-TERM DEBT, less current portion  35,952  35,911
OTHER LONG-TERM LIABILITIES  46,200  39,445
     
REDEEMABLE CONVERTIBLE PREFERRED STOCK  19,873  19,597
     
STOCKHOLDERS' EQUITY:    
Common stock  104  104
Additional paid-in capital  625,878  629,687
Accumulated other comprehensive income  60,343  41,420
Accumulated deficit  (358,364)  (389,178)
     
 Total stockholders' equity  327,961  282,033
     
TOTAL LIABILITIES, PREFERRED STOCK AND STOCKHOLDERS' EQUITY  $ 784,702  $ 761,812
CONTACT: Investor Contact:
Power-One, Inc.
Kevin Trosian
Vice President, Finance & Investor Relations
Investor.Relations@Power-One.com
(805) 383-5888

Media Contact:
Edelman for Power-One
Jon Murchinson
Jon.Murchinson@edelman.com
Phone: 415-486-3274

New iPWER™ High-Efficiency 1200W Aspiro™ Rectifier Released with Aspiro Front Access Platform

Camarillo, CA – April 28, 2011 – Power-One, Inc. (NASDAQ: PWER), a leading global manufacturer of renewable energy and high-efficiency power conversion and management solutions, announces the availability of its new XPGe12.48 1200W rectifier for the Aspiro™ network power systems series. The XPGe12.48 raises the bar for high efficiency in medium-size rectifiers, by providing efficiency exceeding 95% across a wide load range.  

To accompany the new rectifier, Power-One is also releasing the iPWER Aspiro Front Access platform, combining high efficiency with user-friendly front access in a compact 2U (19”/ETSI) format.  The new Aspiro platform supports up to four XPGe units and 4.8kW of power output, while offering flexible DC distribution capability derived from its pluggable circuit breakers and system controller.   The Aspiro Front Access management functions, coupled with the XPGe’s high efficiency and 21.8 W/in3 of power density, facilitate the reduction of operating costs and carbon footprints in space-critical applications, through significant decreases in energy, cooling and site management expenses.

“The release of the iPWER XPGe12.48 not only complements our Network Power portfolio with high-efficiency rectifiers in the low-power range, but also paves the way for deploying hybrid solutions in low-power applications like pico cells and microwaves,” Cemil Tolun, Vice President of Network Power Systems noted recently. “The new Aspiro platform is compatible with our Hybrid controller, which together with XPGe12 will deliver the optimum cyclic performance in unstable-grid and off-grid telecom sites”.

The XPGe12.48 rectifier is full-featured, with a wide input operating voltage range, a 46 to 57 VDC output voltage range and 1200W of output power.  This device is also fully-protected, including EN 61000-3-2 harmonics, EN 61000-4-5 surge immunity, plus EN 61000-6-2, EN 61000-6-3 and EN 61000-4 EMC safeguards.

The iPWER Aspiro Front Access platform provides state-of-the-art system control with Web-based management functionality and Simple Network Management Protocol (SNMP) via its PowCom™ software, plus sophisticated features supporting extended battery life and remote monitoring of critical site equipment, such as HVAC and generators.  This platform’s rugged design ensures reliable operation even when grid-level power quality is unstable.

Please contact Power-One for pricing and availability at +1-978-728-5974 (in the North and South America), +44-1903-823323 (in EMEA) and +86-755-29885888 (in APAC), or visit http://www.power-one.com/corporate/contact/power for additional contacts and information.

Power-One designs and manufactures energy-efficient power conversion and power management solutions for alternative/renewable energy, routers, data storage and servers, wireless communications, optical networking, medical diagnostics, military, railway controls, semiconductor test equipment and custom applications.  Power-One, with headquarters in Camarillo, CA, has global sales offices, manufacturing and R&D operations in Asia, Europe and the Americas.  Please visit www.power-one.com for more information.

Power-One products are not designed, intended for use in, or authorized for use as critical components in life support systems, equipment used in hazardous environments or nuclear control systems without the express written consent of the respective divisional president of Power-One, Inc. The appearance of products, including safety agency certifications pictured on labels, may change depending on the date manufactured.  Specifications are subject to change without notice.

Power-One introduces iPWER™ DC-DC converters to address growing demands for Telecom, Datacom and Wireless infrastructure equipment

Camarillo, CA – March 30, 2011 – Power-One, Inc. (NASDAQ: PWER), a leading provider of renewable energy and energy-efficient power conversion and management solutions, introduces the 1/8th brick SQL48T20033 and the 1/16th brick SSQL48T20033. Both products are rated at 20A, provide an adjustable 3.3 volt isolated output and operate over the full 36-75 telecom input voltage range. The converters are DOSA compliant, with outstanding thermal performance for use at elevated temperatures or in applications with reduced airflow.

The optional baseplate feature is ideal for extreme environmental applications found in 3G and 4G/LTE wireless communication deployments. When thermally mated to a system enclosure, the baseplate facilitates effective heat conduction away from the converter and its load.

"The new iPWER™ converters are total package solutions that provide high efficiency and reliability while meeting sensitive cost points. These products are ideal for customers engaged in development of Telecom and Datacom systems targeting access, backbone, networking equipment and cellular infrastructure,” said Steve Hogge, President of Power-One's Power Solutions Division.

The SQL and SSQL converters are fully featured, providing the capability to withstand a 100V input transient for 100ms. iPWER™ products meet EN 60950 Basic Insulation requirements, are UL94 V-0 flammability rated, operate down to no load conditions and will start up into pre-biased loads.

iPWER™ products are fully protected including: hiccup-mode overcurrent, output overvoltage, input undervoltage lockout and overtemperature shutdown.

Evaluation models are available from stock. Please contact Power-One for pricing and availability at +1-978-728-5974 (in the North and South America), +44-1903-823323 (in EMEA) and +86-755-29885888 (in APAC), or visit http://www.power-one.com/corporate/contact/power for additional contacts.

Power-One designs and manufactures energy-efficient power conversion and power management solutions for alternative/renewable energy, routers, data storage and servers, wireless communications, optical networking, medical diagnostics, military, railway controls, semiconductor test equipment, and custom applications. Power-One, with headquarters in Camarillo, CA, has global sales offices, manufacturing and R&;amp;D operations in Asia, Europe and the Americas. Please visit www.power-one.com for more information.

Power-One products are not designed, intended for use in, or authorized for use as critical components in life support systems, equipment used in hazardous environments or nuclear control systems without the express written consent of the respective divisional president of Power-One, Inc. The appearance of products, including safety agency certifications pictured on labels, may change depending on the date manufactured. Specifications are subject to change without notice.

Syndicate content