Power-One Reports Record Earnings, Revenue

Power-One Inc. in Camarillo reported record earnings and revenues for the year ended Dec. 28.

Total revenues increased 23% to $91.6 million, compared with $74.2 million in 1996. Earnings increased 188% to $8.2 million, or 56 cents per diluted common share, compared with $2.9 million, or 14 cents per diluted common share, for 1996.

Total revenues for the three months ended Dec. 28 increased 65% to $26.9 million, compared with $16.3 million for the comparable period in 1996. Earnings increased to $3.5 million, or 20 cents per diluted common share, compared with $600,000, or 2 cents per diluted common share, for the comparable period in 1996.

During the fourth quarter, Power-One completed an $80.5-million initial public offering, finished a 22,000-square-foot expansion at its Mexican plant and added a state-of-the-art production line.

“Our Mexican manufacturing locale . . . enables us to respond quickly to our customers’ changing needs,” said CEO Steve Goldman. “These plant improvements enhance both our manufacturing efficiency and flexibility.”

Power-One designs and manufactures power supplies for electronic equipment manufacturers in the United States.