Power-One Surging 15% after Yesterday's Earnings Report
Shares of Power-One (NASDAQ: PWER) are seeing much strength during Friday's trading session after the company announced positive fourth quarter results yesterday, which beat analyst estimates.
Power-One announced strong financial results for the fourth quarter 2011. For the quarter ended January 1, 2012, Power-One recorded net sales of $267 million, with Renewable Energy Solutions contributing $191 million and Power Solutions posting $76 million. Net income attributable to common stockholders for the fourth quarter was $32 million, or $0.21 per diluted share.
Due to uncertainty on feed-in-tariffs and other legislation, as well as the global macroeconomic uncertainty affecting end market demand in both SBUs, Power-One announced it would not provide full-year guidance for 2012. For the first quarter of 2012, Power-One guided revenue of $190 million to $210 million, which reflected traditional seasonality in the first quarter.
Currently, shares of Power-One are trading up over 16% at $5.26.
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