This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Power-One Updates Outlook For Fourth Quarter Of 2012

Stocks in this article: PWER

  • Expects revenue of $190 million to $195 million and a net loss for the quarter
  • Earnings release date set for January 31st

CAMARILLO, Calif., Jan. 17, 2013 (GLOBE NEWSWIRE) -- Power-One, Inc. (Nasdaq:PWER), a leading provider of renewable energy and energy-efficient power conversion and power management solutions, today provided an updated outlook for its fourth quarter 2012 financial results. The Company expects to report fourth quarter revenue of $190 million to $195 million, which is below the previously estimated range of $210 million to $230 million. Softer than expected market conditions in the Renewable Energy business, primarily in Italy and Germany, driven by reduced feed-in tariffs and a difficult financing environment, led to lower sales in the quarter. As a result, the Company expects to report a net loss of $12 million to $15 million for the quarter due to lower than expected gross margins resulting from the revenue shortfall and new product ramp-up costs. Included in the expected results is a loss, net of tax, of approximately $6 million on foreign currency remeasurement due to the strengthening of the Euro versus the dollar late in the fourth quarter.

"Greater than anticipated weakness in key European markets was the chief contributor to revenue being below our expectations," said Richard Thompson, Chief Executive Officer of Power-One. "We continue to  believe that Europe will be a major market for solar power over the long-term, however, near-term demand will be more volatile as the market adjusts to the recent changes in PV incentives."

Power-One will report its fourth quarter 2012 financial results on Thursday, January 31, 2013. In conjunction with its financial results announcement, members of the public are invited to listen to the company's live quarterly conference call on the Internet on Thursday, January 31, 2013 at 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time. The conference call will feature Richard Thompson, Chief Executive Officer and Gary Larsen, Chief Financial Officer.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs