Power-One Inc. Beats Analysts’ Estimates

Power-One Inc. in Camarillo posted a strong rise in fourth-quarter earnings that beat Wall Street estimates on record sales driven by growth in all business segments.

Power-One, which makes power-conversion products for communications systems, reported net income of $18.8 million, or 23 cents per share, for the quarter ended Dec. 31, compared with $8 million, or 11 cents per share, a year earlier.

Cash earnings, or earnings before amortization of intangibles and acquisition-related charges, was 27 cents per share, compared with 12 cents in the same period a year ago. Analysts expected Power-One to post earnings of 26 cents a share, according to First Call / Thomson Financial.

Power-One remains optimistic about its future growth despite the recent softness in parts of the communications industry, company officials said. It predicted first-quarter net sales of $174 million to $178 million, with earnings ranging from 27 cents to 28 cents per share.

For 2001, the company forecast sales to rise 55% to 60%, or $790 million to $810 million, with cash earnings ranging from $1.33 to $1.35 per share, officials said.