Power-One Inc. (Camarillo, CA) announced that net sales for the fiscal quarter ended March 31, 2002, were $48.4 million, compared with $169.9 million in the first quarter of 2001, a decrease of $121.5 million, or 71.5 percent. Net sales for the first quarter of 2002 increased sequentially by $524,000, or 1.1 percent, compared to the $47.9 million achieved in the fourth quarter of 2001.
Net loss for the fiscal quarter ended March 31, 2002, was $7.2 million, or $0.09 per basic share, compared with net income of $16.4 million, or $0.20 per diluted share, for the same period in 2001. Net loss for the first quarter of 2002, excluding non-recurring items, was $6.6 million, or $0.08 per basic share, compared with net income of $16.4 million, or $0.20 per diluted share, for the same quarter last year.
For the second quarter of 2002, the company currently anticipates net sales to be in the range of $50.0 to $55.0 million with a cash loss per basic share in the range of $0.05 to $0.07.
