stocktrader001
12 years ago
ABB to Buy Solar Power Firm Power-One for $1B
Automation technology group ABB said it was buying renewable energy firm Power-One Inc for around $1 billion, an effort to step up its presence in the growing solar inverters market.
ABB said the boards of both companies had agreed that ABB will acquire Power-One at $6.35 per share in cash, a deal which includes Power-One's net cash of $266 million, ABB said in a statement on Monday.
The transaction would position ABB as a leading global supplier of solar inverters, the "intelligence" behind a solar photovoltaic system, ABB said.
Subject to shareholder and regulatory approvals, the transaction is expected to close the second half of 2013.
http://www.foxbusiness.com/news/2013/04/22/abb-to-buy-solar-power-firm-power-one-for-1-billion/
stocktrader001
12 years ago
Power-One Inc Lowers Q4 2012 Revenue Guidance; Issues Q4 2012 Net Loss Guidance Below Analysts' Estimates
Thursday, 17 Jan 2013 07:00am EST
Power-One Inc updated outlook for fourth quarter of 2012 and expects to report 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 fourth 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. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $221 million and net income of $11 million for the fourth quarter of 2012.
http://www.reuters.com/finance/stocks/PWER.O/key-developments/article/2675829
stocktrader001
12 years ago
Great work east, thank you! Im back from holidays, it was so good. Just waaay too short.
If youre ever in europe, visit Rovinj/Rovingo. Its a nice small place in the north of croatia. It has a beautiful, beautiful old town and we had a very good, and relaxing time there.
One day, i will charter the super yacht "Follow Me V Douglas" and go there by sea way.:D
We saw it in the port of Rovinj/Rovingo. My guess is you need 100'000 Euro per week for it. Crew included.
eastunder
12 years ago
Power-One shares fall despite strong 2nd-qtr results boosted by strength in Europe
Associated Press – Fri, Jul 27, 2012 3:12 PM EDT.. .
http://finance.yahoo.com/news/power-one-shares-fall-despite-191218159.html
NEW YORK (AP) -- Shares of Power-One Inc., which makes equipment used in solar panel systems, lost steam Friday after investors weighed the company's long-term struggles against its strong second-quarter results and bright outlook for the current quarter.
The stock rose as much as 20 percent after the results were released Thursday and opened 5.5 percent higher Friday. But shares turned lower Friday afternoon, along with shares of several other solar equipment makers, as investors fretted over the strength of demand in Europe as more countries there fall into recession.
The Camarillo, Calif., company attributed the 52 percent gain in its net income to the solar market in Europe.
Profit came to $46.7 million, or 30 cents per share, in the three months through July 1, compared with $30.8 million, or 21 cents per share, a year earlier. Revenue jumped 24 percent to $321.5 million.
Analysts polled by FactSet had had much lower expectations, predicting profit of 12 cents per share on revenue of $250.3 million.
Power-One shipped 1.2 gigawatts of inverters for solar panels in the spring quarter, driven in particular by European businesses installing rooftop solar systems.
For the current quarter, Power-One expects a smaller revenue increase than in the second quarter as demand in Germany and Italy moderates. It predicted that revenue will rise 10 percent from a year ago, to $260 million to $280 million. Analysts had projected revenue of $239 million.
But overall, demand for solar is dropping in Europe after cash-strapped governments cut renewable energy subsidies.
Cantor Fitzgerald analyst Dale Pfau said he considers Power-One's "spectacular" quarter a reflection of a demand spike before further subsidy cuts in Europe. While Power-One is gaining market share, the company still expects revenue from Europe, which made up 91 percent of revenue in the second quarter, to drop next year. And he said it's struggling to ramp up its U.S. manufacturing.
Shares shed 24 cents, or 5 percent, to $4.64 in afternoon trading Friday. They've lost about 35 percent of their value over the past 12 months, but have rebounded 25 percent in 2012.
eastunder
12 years ago
Power-One Beats on the Top Line
By Seth Jayson
July 27, 2012
http://www.fool.com/investing/general/2012/07/27/power-one-beats-on-the-top-line.aspx
Power-One (Nasdaq: PWER ) reported earnings on July 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended July 1 (Q2), Power-One crushed expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share expanded significantly.
Gross margins dropped, operating margins contracted, net margins grew.
Revenue details
Power-One logged revenue of $321.5 million. The 13 analysts polled by S&P Capital IQ anticipated a top line of $251.5 million on the same basis. GAAP reported sales were 24% higher than the prior-year quarter's $260.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.24. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.12 per share. GAAP EPS of $0.30 for Q2 were 43% higher than the prior-year quarter's $0.21 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 30.3%, 330 basis points worse than the prior-year quarter. Operating margin was 18.6%, 210 basis points worse than the prior-year quarter. Net margin was 14.5%, 230 basis points better than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $237.3 million. On the bottom line, the average EPS estimate is $0.10.
Next year's average estimate for revenue is $960.0 million. The average EPS estimate is $0.41.
Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 612 members out of 652 rating the stock outperform, and 40 members rating it underperform. Among 102 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 86 give Power-One a green thumbs-up, and 16 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Power-One is outperform, with an average price target of $5.63.
eastunder
12 years ago
Explain This One
http://www.forbes.com/sites/taesikyoon/2012/07/27/explain-this-one/?partner=yahootix
By just about any measure, Power One (PWER), a provider of renewable energy and energy-efficient power conversion and power management solutions such as photovoltaic inverters used in solar power applications, had a blowout quarter. Not only did second quarter revenues of $322 million destroy the consensus estimate for $250 million, earnings of 30 cents per share exceeded expectations by 150%.
Of course, with the record number of companies guiding lower, beating expectations simply isn’t good enough. Fortunately, PWER had this covered too. The company expects Q3 revenues of $260-280 million. This is at least 9% higher than what analysts were expecting.
Just to give you an idea of just how impressive PWER’s quarter was, when combined with earnings from the first quarter, the company has now earned 38 cents per share in the first half of the year. The consensus estimate for the full year based on no less than 17 analysts is 40 cents per share. In just two quarters, PWER has nearly matched what industry professionals expected the company to earn for the entire year.
These strong results obviously took investors by surprise, so much so that shares were halted for a short period last night after the company released its earnings report. Once trading resumed, the stock spiked, rising more than 20% at one point. When a company beats expectations by a mile then provides guidance for the current quarter that exceeds even the most optimistic analyst forecast, gains of this magnitude are not unusual. It also came as a welcome relief considering the thrashing it and other solar power-related stocks, such as GT Advanced Technologies (GTAT), First Solar (FSLR), MEMC Electronic Materials (WFR), SunPower Corp. (SPWR) and Veeco Instruments (VECO) have taken in past year and a half on weaker than expected global demand.
That’s why I was surprised to see the stock up just 5% in premarket trading today. Nevertheless, I figured that once the equity markets opened and real trading began, the stock would be rewarded for its exceptionally strong outperformance and optimistic near term guidance.
Boy was I wrong. On a day where stocks are clearly in rally mode, shares of PWER are currently down 4%. To add insult to injury, today’s rally is largely the result of increased optimism that additional actions will be taken by the ECB to support and strengthen the deteriorating European economic situation. You’d think this would be taken as good news for PWER considering weakness from this region was among the main concerns associated with owning shares.
Now some may say that it isn’t about the past quarter or even the current quarter but rather about prospects over a longer term. And in this regard, there remains plenty of uncertainty. I cannot disagree with this. But I also know that this concern is well worn. After all, you don’t often see a stock fall 60% in a year and a half without some concern over its long-term health as was the case for PWER heading into its Q2 earnings report.
I’ll highlight again what the company achieved in the past quarter, because I think it bears repeating. PWER beat its revenue and profit expectations by 29% and 150%, respectively. Of the 17 analysts that cover this stock, not a single one even came close to projecting this level of outperformance. The company also provided revenue guidance for Q3 that is at least 9% higher than what the current consensus calls for. As for its finances, they are about as strong as its gets. PWER has $259 million in cash and no debt. On a per share basis, this indicates that a third of its value is straight cash. These are facts and they are indisputable. If a market can’t reward outperformance of this magnitude, what incentive is there for investors to own shares of any company?
eastunder
12 years ago
Power-One beats estimates, forecasts strong 3rd-qtr sales
http://www.reuters.com/article/2012/07/26/power-one-results-idUSL4E8IQ8N920120726?feedType=RSS&feedName=rbssEnergyNews&rpc=43
Thu Jul 26, 2012 5:02pm EDT
* Q2 EPS $0.30 vs est $0.12
* Q2 rev $322 mln vs est $249.9 mln
* Sees Q3 sales $260-$280 mln vs est $238.9 mln
* Shares up 16 pct after market close
July 26 (Reuters) - Power-One Inc, the world's second-biggest maker of inverters for the solar power market, posted better-than-expected quarterly results on higher demand in Europe and forecast strong third-quarter sales.
The company forecast revenue of $260 million to $280 million for the third quarter. Analysts were expecting sales of $238.9 million, according to Thomson Reuters I/B/E/S.
Net income for the second quarter rose to $47 million, or 30 cents per share, compared with $31 million, or 21 cents per share, a year earlier.
Sales rose 24 percent to $322 million.
Analysts on average had expected a profit of 12 cents per share on revenue of $249.9 million.
The company's inverter shipments rose 76 percent to 1,263 megawatts in the second quarter.
Shares of the Camarillo, California-based company rose about 16 percent after the bell. They closed at $4.88 on Thursday on the Nasdaq.
eastunder
12 years ago
Jefferies Maintains a 'Buy' on Power-One (PWER); Strong Beat and Raise; Attractive Despite Euro Risk
Jefferies maintains a 'Buy' on Power-One (NASDAQ: PWER) price target of $6.00.
http://www.streetinsider.com/Analyst+Comments/Jefferies+Maintains+a+Buy+on+Power-One+%28PWER%29%3B+Strong+Beat+and+Raise%3B+Attractive+Despite+Euro+Risk/7609879.html
Analyst, Jesse Pichel, said, "PWER delivered significant Q2 upside and guided Q3 well above Street expectations, though a seq decline from Q2. PWER appears to be gaining share in all markets despite a challenging overall environment, with a strong balance sheet with no debt, $1.66/sh in cash and has a saleable power solutions asset that may fetch $150-200M. Shares offer attractive risk/reward at current levels despite its high exposure to the European market."
FY12 EPS estimate raised from $0.49 to $0.63, FY13 cut from $0.70 to $0.65.
eastunder
12 years ago
PWER
7/27/12
4.88 as of close 7/26/12
Finviz, StockTA, Stoxline, yahoo
SEC, nasdaq, Earnings.com
Bigcharts, Insider, ShortSqueeze
eastunder
12 years ago
Power-One Announces Second Quarter 2012 Results
http://www.streetinsider.com/Press+Releases/Power-One+Announces+Second+Quarter+2012+Results/7608190.html
EPS Growth %: -42.9% Exceeds revenue guidance with quarterly revenue of $322 million; up 24% year-over-year
A record 1,263 megawatts of inverters shipped in the quarter
Reports second quarter EPS of $0.30
Operating cash flow of $56 million in the quarter
CAMARILLO, Calif., July 26, 2012 (GLOBE NEWSWIRE) -- Power-One, Inc. (Nasdaq: PWER), a leading provider of renewable energy and energy-efficient power conversion and power management solutions, today announced financial results for the second quarter of 2012. For the quarter ended July 1, 2012, Power-One recorded net sales of $322 million with Renewable Energy Solutions contributing $255 million and Power Solutions posting $67 million. Net income attributable to common stockholders for the second quarter was $47 million, or $0.30 per diluted share. This includes a gain, net of tax, of $0.06 per share on foreign currency remeasurement due to the recent weakening of the Euro versus the dollar.
"In the second quarter of 2012, Power-One shipped over 1.2 gigawatts of inverters, a company record, primarily driven by strength in Europe, particularly in the commercial rooftop segment of the market," said Richard Thompson, Chief Executive Officer of Power-One, "Demand is very robust for our recently introduced TRIO 20/27.5KW inverters which have become our largest selling product line."
"The higher revenue along with reductions in material costs enabled us to increase our operating income in the second quarter to $60 million, or 19% of revenue," continued Mr. Thompson. "Improved profitability and working capital management added to our liquidity as cash and equivalents increased to $259 million. This further strengthens Power-One's bankability in the renewable market."
Renewable Energy Solutions
In the second quarter of 2012, Renewable Energy (RE) Solutions benefited from strength in the European region, particularly in Italy and Germany. Inverter and related products generated sales of $255 million and an operating margin of 26% for the second quarter of 2012. Operating margin doubled sequentially from the first quarter due to stable pricing, cost reductions in materials, and improved absorption on higher volumes. In the quarter, Power-One shipped 1,263 megawatts of inverters, up 88% sequentially and up 76% year-over-year.
Power Solutions
Power Solutions recorded sales of $67 million and an operating margin of 4% for the second quarter of 2012. In the quarter, the Servers, Storage and Networking segment faced weaker demand as some customers delayed their orders as a result of macroeconomic uncertainties. Power Solutions operating margin declined sequentially as a result of the reduced volumes and corresponding lower overhead absorption.
Balance Sheet
At July 1, 2012, Power-One had cash and cash equivalents of $259 million, as compared with $205 million at January 1, 2012. During the quarter, Power-One repurchased 1.1 million shares of common stock for approximately $5 million.
Business Outlook
As demand in Germany and Italy is expected to moderate, Power-One forecasts revenue of $260 million to $280 million in the third quarter of 2012. At the midpoint, this would represent a 10% increase over the revenue generated in the third quarter of 2011.
Balance sheet continued at:
http://www.streetinsider.com/Press+Releases/Power-One+Announces+Second+Quarter+2012+Results/7608190.html
eastunder
12 years ago
PWER 2Q earnings 7-26-12 AMC
Power-One Sets Date for 2012 Second Quarter Earnings Release
Press Release: Power-One, Inc. – Fri, Jul 13, 2012 8:00 AM EDT.. .
CAMARILLO, Calif., July 13, 2012 (GLOBE NEWSWIRE) -- In conjunction with Power-One, Inc.'s (PWER) 2012 second quarter financial results announcement, members of the public are invited to listen to the company's live quarterly conference call on the Internet on Thursday, July 26, 2012 at 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time. The purpose of the conference call is to discuss the company's 2012 second quarter financial results. The conference call will feature Richard Thompson, Chief Executive Officer and Gary Larsen, Chief Financial Officer.
Financial results will be released over the newswires after the market closes on Thursday, July 26, 2012. The press release will also be posted on Power-One's corporate website. The call will be available both via the telephone at (877) 390-5535 or (631) 291-4579, conference ID #99604981, or over the Internet through the Power-One investor relations website at: http://investor.power-one.com/events.cfm. To listen to the call, please log-in at least ten minutes early to register, download, and install any necessary audio software. An online re-broadcast of the call will also be available on the site.
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BigLoser64
12 years ago
conix
12 years ago
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