Power One Sets Restructuring

Power One(PWER Quote) plans to lay off about one-quarter of its workforce in a restructuring. The company also said its previously stated third-quarter guidance is on track, with expected sales to be flat to "slightly up," and earnings consistent with analysts' predictions.

The company expects sales to be between $56 million and $59 million, compared with sales of $56.2 million in its second quarter this year, and to report a loss of 6 cents to 9 cents a share. Analysts expect the company to lose 7 cents a share. ...