Active Power swings to profit in Q3 2010

(ADPnews) - Oct 27, 2010 - US back-up power solutions provider Active Power (NASDAQ:ACPW) said on Tuesday it turned to a net profit of USD 55,000 (EUR 39,800) in the third quarter of 2010 from a net loss of USD 1.5 million a year earlier.

The company said its quarterly revenue more than doubled year-on-year to USD 18.5 million, mainly driven by sales of datacentre infrastructure solutions and large repeat orders from customers. Active Power shipped 97 flywheels in uninterruptible power supply (UPS) systems at an average selling price of USD 88,000 per unit during the quarter, compared to 56 flywheels shipped in the third quarter of 2009 at an average selling price of USD 78,000.

Despite ending the July-September period in the black, the company booked zero earnings per share (EPS), compared to a loss per share of USD 0.02 a year earlier.

For the fourth quarter Active Power expects breakeven EPS or loss of up to USD 0.02 per share, on revenue of USD 16 million to USD 19 million. Full-year revenue is seen at USD 62 million-65 million.

(USD 1 = EUR 0.724)

Choose your newsletter by Renewables Now. Join for free!