Jul 29, 2011 - US clean energy technology firm Power-One (NASDAQ:PWER) said on Thursday it expected third-quarter revenues to reach USD 265 million (EUR 185m) to USD 280 million.
The company expects growing sales in North America and Asia in the renewable energy segment and better market conditions in Europe.
Full-year revenue is seen at USD 1.05 billion to USD 1.15 billion.
In the second quarter of 2011, Power-One's net profit went up to USD 31 million, or USD 0.21 per diluted share, from USD 24 million a year before. Revenue was up 21% on the year to USD 260 million.
Sales of inverters and related products stood at USD 180 million, accounting for the bigger portion of revenues. The company shipped 718 MW of inverters.
During the quarter Power-One bolstered its market share globally, adding new customers is the US, China and India, the company said.
(USD 1 = EUR 0.700)
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Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.