Artesyn Reports Second-Quarter 2002 Results

July 22, 2002 by Jeff Shepard

Artesyn Technologies Inc. (Boca Raton, FL) reported financial results for the quarter ended June 28, 2002. Revenue for the quarter totaled $90.9 million, down from $127.7 million a year ago and in line with expectations. The company incurred a loss of $0.13 per diluted share for the quarter, excluding charges, compared to a cash loss of $0.17 per diluted share in 2001, excluding charges.

Total orders in the quarter were $78.4 million, with a book-to-bill ratio of 0.86. Backlog at the end of the quarter stood at $76.9 million, with approximately $71.0 million of this amount shippable in the third quarter.