Power-One Misses Where It Counts
Power-One (NAS: PWER) reported earnings on May 3. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended April 1 (Q1), Power-One beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Power-One chalked up revenue of $225.7 million. The 14 analysts polled by S&P Capital IQ predicted a top line of $203.1 million on the same basis. GAAP reported sales were 7.7% lower than the prior-year quarter's $244.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.03. The 14 earnings estimates compiled by S&P Capital IQ anticipated $0.09 per share. GAAP EPS of $0.03 for Q1 were 85% lower than the prior-year quarter's $0.20 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 24.4%, 1,010 basis points worse than the prior-year quarter. Operating margin was 8.2%, 1,280 basis points worse than the prior-year quarter. Net margin was 2.2%, 1,040 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $234.3 million. On the bottom line, the average EPS estimate is $0.12.
Next year's average estimate for revenue is $955.2 million. The average EPS estimate is $0.54.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 610 members out of 650 rating the stock outperform, and 40 members rating it underperform. Among 112 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 100 give Power-One a green thumbs-up, and 12 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 $6.10.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool owns shares of Power-One. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.