* Q4 adj EPS $0.49 vs est $0.40
* Q4 rev more-than-doubles $366 mln
* Sees Q1 rev about $260-$290 mln vs est $313 mln
Feb 3 Power-conversion products maker Power-One
PWER.O posted better-than-expected adjusted quarterly
earnings, but gave a weak first-quarter revenue outlook, hurt
by inclement weather in Europe and a cut in feed-in-tariffs
across multiple markets.
Shares of the company fell 21 percent in extended trading.
Since late last year, green energy incentive cuts across
the world, especially Europe, have hurt renewable energy
Feed-in tariffs -- prices utilities are obliged to pay to
generators of renewable energy -- are the sector's lifeline as
long as grid-parity, the point at which renewables cost the
same as fossil fuel-based power, has not been reached.
For the fourth quarter, net income was $53.5 million, or 35
cents a share, from $5.4 million, or 5 cents a share, a year
Excluding items, the company earned 49 cents, compared with
analysts' view of 40 cents, according to Thomson Reuters
Revenue more than doubled to $366 million, beating
analysts' expectation of $352.5 million.
The company said it expects first-quarter revenue $260-$290
million, much below analysts' view of $313 million.
Shares of the Camarillo, California-based company were down
21 percent at $9.25 on Thursday in trading after the bell. They
closed at $11.75 on Nasdaq.
(Reporting by Mayuresh Tungare in Bangalore; Editing by