February 4, 2010 / 10:06 PM / 9 years ago

UPDATE 1-Power-One Q4 results surprise; shares jump 26 pct

* Q4 EPS $0.05 vs est. loss/shr $0.03

* Q4 rev up 9 pct

* Shares rise 26 pct after market

Feb 4 (Reuters) - Power-One Inc PWER.O posted a higher quarterly profit, against analysts’ expectations of a loss, mainly helped by an increase in inverter product revenue, sending its shares up 26 percent in extended trade.

“With the increasing demand for our renewable energy and power products, we look forward to a strong year in 2010,” Chief Executive Richard Thompson said in a statement.

For the fourth quarter ended Jan. 3, the company reported earnings of $5.4 million, or 5 cents a share, compared with earnings of $1.7 million, or 2 cents a share, in the year-ago period.

Net sales rose 9 percent to 142 million.

Analysts on average were expecting a loss of 3 cents a share, on revenue of $114.9 million, according to Thomson Reuters I/B/E/S.

Shares of the company were at $3.90 in trading after the bell. They closed at $3.10 Thursday on Nasdaq. (Reporting by Bijoy Koyitty in Bangalore; Editing by Unnikrishnan Nair)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below